12/01/15 – Paragon Financial Announces 100th Small Business Funding with IRS Tax Issues

Posted by on December 1, 2015 in | Comments Off on 12/01/15 – Paragon Financial Announces 100th Small Business Funding with IRS Tax Issues

MIAMI, FL – Paragon Financial Group, a 21 year old factoring company, announces the 100th small business has now benefited from their IRS tax funding program. The funding program caters to businesses that have experienced a lack of available working capital funding options stemming from federal or state tax issues such as payroll tax debt, tax liens and levies. Securing commercial financing or other type of bank financing is very difficult when a company is experiencing taxing authority issues. Chris Curtin, National Sales Manager of Paragon Financial says, “When companies have IRS or state tax issues, it is more important than ever for them to have healthy cash flow. We are proud to have now helped 100 companies with tax issues meet their critical working capital needs.” Curtin continued, “We have access to up-to-date information on IRS liens, levies, tax compliance history, business name discrepancies, accrued tax liabilities and IRS installment agreements — every relevant piece of information we need to ensure that there is a reduced risk of your receivables being taken by the IRS to fulfill back-tax obligations.” Paragon Financial advisors have the ability to negotiate a subordination agreement between the IRS and the small business client. Often times this results in resolving both the businesses debt to the IRS and providing working capital. Paragon Financial’s working capital funding program offers non-recourse accounts receivable financing, invoice factoring, credit protection and purchase order financing to non-bankable small business clients that have IRS problems or bad credit. About Paragon Financial Group For over two decades, US companies across all industries have selected Paragon Financial to meet their working capital needs. Non-Recourse Accounts Receivable Facilities are available to $3,000,000 USD. From government contractors to distribution companies, from staffing firms to manufacturers; business owners have successfully grown their companies with Paragon Financial’s Non-Bank Invoice Factoring, Accounts Receivable Management, Credit Protection and Purchase Order Financing Programs. For fast funding now, please call 888-271-9347 ext 1 or visit our website...

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Top 5 Myths Lenders Have About the IRS

Posted by on September 28, 2015 in Uncategorized | Comments Off on Top 5 Myths Lenders Have About the IRS

  Myth 1: If no federal tax lien has been filed, my collateral is safe. Your collateral can be seized without notice. Many lenders don’t realize that the IRS doesn’t have to file a lien to issue a levy against your collateral. In fact, less than 40% of IRS liabilities currently have liens filed in the public record. Using a public records search to assess your risk is understandable, but not nearly enough to protect you from your true IRS risk. The bottom line is, you are not protected unless you know for sure that your client doesn’t have outstanding federal tax liabilities. Myth 2: Filing a Form 8821 and waiting for the mail has me covered. Form 8821 may not effectively cover you, and you may never be notified of your client’s tax issue. Filing form 8821 and waiting for the IRS to send you a letter that may never come is a passive risk assessment measure. The reality is that the IRS often makes mistakes when entering form 8821 information into their system. Even when they do input it correctly, they fail to copy lenders on important correspondence like a federal tax lien approximately a quarter of the time. Tax Guard obtains information directly from the IRS and proactively monitors your entire portfolio on a monthly basis. Myth 3: Three years of tax compliance history is enough to assess IRS risk. Three years is just scratching the surface. 50% of all IRS debt is older than five years, so requiring or reviewing only three years of tax information for funding approval leaves the door wide open for missing additional tax liabilities. Tax Guard gives you a verified, complete IRS compliance snapshot going back as far as 10 years. Myth 4: Articles filed with the Secretary of State will confirm my client’s identity and give me the correct name for a public records search. Information filed with the Secretary of State (SOS) may not match information in the IRS system. SOS Offices and the IRS often rely on taxpayers to voluntarily provide the information submitted on the original SOS filings, along with any subsequent changes. Prospects may provide incorrect information to the IRS or fail to notify the IRS of business name changes. A public records search for a name listed with the SOS can still miss a federal tax lien if the IRS files it under a different name. Tax Guard reports are based on the EIN, so no matter what name your client or prospect has on file with the SOS, any IRS issues will be identified. This ensures that your due diligence is as accurate as possible and you don’t miss hidden tax risks from federal tax liens. Myth 5: I don’t need to worry about an IRS Final Notice of Intent to Levy. I only need to worry about a federal tax lien. Your collateral is at risk once the IRS issues a Final Notice of Intent to Levy. A Final Notice of Intent to Levy – IRS Letter 1058 or LT11 – is mailed 30 days before the IRS can begin seizing assets from a business or individual who owes taxes. Knowing when the Final Notice of Intent to Levy is issued is the most important factor in determining whether your collateral is at risk of enforced IRS levy or seizure. The IRS does not have to file a federal tax lien before they can levy and seize assets. Ready for fast, secure funding now? Paragon has been providing funding solutions for businesses with IRS issues for over two decades. To learn more,...

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Accounts Receivable Factoring: Is It Right For Your Business?

Posted by on July 28, 2015 in | 0 comments

Accounts receivable factoring is great tool for funding your company. It helps your small business get the working capital needed to maximize opportunities and keep profitable.  Below, we will discuss scenarios where receivable factoring is a funding option that makes sense. Is Your Business New? Startup businesses do not typical have a lot of working capital.  Having the ability to meet payroll, invest in a new idea or buy raw material can make or break the company.  Often times, new businesses are not able to secure bank funding giving them few options to raising capital. Selling their accounts receivables can be an effective way to raise money without taking on debt.  To be quickly approved the accounts receivables should be associated with clients with a solid credit history and aging report.   With receivable funding the factoring company looks at the startup clients payment history(aging report) and their clients overall credit. Does your company have IRS tax related issues? Accounts receivables factoring is an amazing funding tool to use when your company is experiencing IRS tax issues like liens.  An experienced factor will negotiate the subordination with IRS and get you the funds you need quickly to get the tax lien lifted. If your current finance company has cut you off, the factor can buy them out. Do you have only one or two clients? Client concentration is typically a non-starter for obtaining financing.   With receivable factoring it is not an issue.   Lets say your only client is Walmart, the Federal Government, Comcast or the City of Dallas.    This gives the factoring company a safe bet these big clients will pay the invoices in full.  A good factor understands your relationship with your clients is critical and we work in a cordial and professional way with your customers that strengthens your relationship and improves cash flow. Do you sell to the Government? Many banks and accounts receivable funders specifically exclude Government Receivables from availability. Only the most experienced and knowledgable factoring companies handle government factoring arrangements.   Do you homework and find a factoring company that effectively deals with all levels of Federal, State and Local governments. Get Funded with Account Receivable Factoring! apply securely now, call 888-400-5931, email us or chat with us. Money When Your Business Needs It...

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Business Funding with IRS Issues

Posted by on March 20, 2015 in | 0 comments

If you have unresolved back-tax issues with the IRS, it is very difficult to obtain the funding you need for working capital to grow your business.  Working with an experienced funding source can resolve your tax issues and provide necessary financing. Founded in 1994, Paragon Financial offers FAST-GROWING companies an alternative to bank financing. When banks either WILL NOT loan or offer TOO LITTLE funds, Paragon promptly supplies a steady stream of cash through Invoice Factoring. The Problems You May Face: If you owe the government money, and you have not arranged with the IRS to make payment on that obligation, the IRS has the authority to issue a lien against your assets, including those that you have used as collateral for loans. This includes potential liens and levies against your accounts receivable – receivables you intend to factor for needed funding.  In addition, the IRS is known to seize assets in the past without notification! Many times the IRS does not even issue a lien, and will go straight to the “intent to levy stage” – where they will take possession of your assets if you do not make payment or appeal the intent-to-levy notice within 30 days. Furthermore, the IRS often makes a “wrongful levy” – e.g., when a lender already has a prior secured interest or lien on the accounts receivable or other financial or physical assets. The IRS DOES NOT conduct a lien search prior to issuing a levy, and thus does not know whether the assets on which it intends to levy are being used as collateral. Even if the levy is wrongful, and the IRS had no legal right to those assets, it is very difficult, time-consuming and costly for you to get the assets back from the government. If you are experiencing any of these back-tax-related problems, most financing firms will not even consider factoring your accounts receivable, leaving you with a shortage of necessary working capital. In addition, even if your attorney or CPA firm is working on negotiations with the IRS to settle your tax obligation, you will not be able to factor those receivables unless a payment deal is in place AND arrangements have been made for the IRS to subordinate or have an agreement in place with your funding source … Paragon Financial Is the Solution … Paragon Financial is ahead of the curve in dealing with the back-taxes problem. As a leading factoring firm for 23 years, we have the tools to ensure that you do not have any issues with the IRS that could hinder your ability to factor your receivables. We have access to up-to-date information on IRS liens, levies, tax compliance history, business name discrepancies, accrued tax liabilities, and IRS installment agreements – every relevant piece of information we need to ensure that there is no risk of your receivables being taken by the IRS to fulfill back-tax obligations. If you do have back-tax issues and cannot meet the obligation immediately, we also have the resources to help you negotiate a payment agreement and avoid the liens and levies that can obstruct your ability to factor your receivables with Paragon. For fast, secure funding even with tax issues, please contact Chris Curtin, National Sales Manager via the contact form or toll-free (888) 400-5931 ext 1. Money When Your Business Needs It...

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Company Financing with a Lien

Posted by on March 17, 2015 in Accounts Receivable Financing | Comments Off on Company Financing with a Lien

If your company owes the government money, and you have not arranged with the IRS to make payment on that obligation, the IRS has the authority to issue a lien against your assets, including those that you have used as collateral for loans. This includes potential liens and levies against your accounts receivable.  What happens if you need financing for working capital? Paragon Financial is ahead of the curve in dealing with the back-taxes problem. As a leading factoring company for 20 years, we have the tools to ensure that you do not have any issues with the IRS that could hinder your ability to factor your receivables. If you do have back-tax issues and cannot meet the obligation immediately, we also have the resources to help you negotiate a payment agreement and avoid the liens and levies that can obstruct your ability to factor your receivables. Paragon Financial has been providing companies with tax liens funding through receivable financing, purchase order financing with credit protection and AR management for over 20 years.  Give us a call at 888-400-5931 today, fill-out the form to the right or chat with us....

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