Have a taxpayer who is/was a securities broker (series 7). Had a authorized second business that failed and owes the IRS 30k+. That is workable for me.
FINRA suspended his brokers license due to the tax lien (standard procedure) does anyone know upon resolution with the IRS can the FINRA suspension be reversed. What the time frame and procedures? Anyone have experience here? Eric?
Just to follow up, I had a client that requested to be able to raise money for a chain of hamburgers restaurants with a former NFL coach who was revered here in St. Louis and was friends with my client. which the B/D signed off on and he was a good producer. Someone complained broker got license revoked by Finra and the B/D turned on the producer and cut and ran. Producer hired excellent attorney but to no avail and my client was done.
Best advise your client needs to find an attorney who specializes in this and hopefully he will have a good outcome.
I thought I responded but my post seems to have vanished.
I would first take care of the IRS: Call ACS and request first time abatement and then get them into a streamlined IA.
The moment that is set up I would file a 12277 and request the Notice of Lien be withdrawn because the taxpayer is in a payment plan and now has lost his license and ability to make money. I bet the lien unit will agree. If they ultimately refuse with withdraw it file a 911 and argue hardship.