Located at 3414 Webbs Mill Road N in Floyd, Tee’s Tax Resolution is owned and operated by tax professional, Terena Meador. After graduating from high school, life took Terena Lester Meador to South Carolina for over twenty years.  In all that time away, however, she never forgot her home.  She longed for Floyd County and the Blue Ridge Mountains that surrounded it.  Memories of her family’s dairy farm in Alum Ridge made her miss the rhythm of country living.
While in South Carolina, Terena met and married David; originally from West Virginia.  After hearing Terena’s stories about Floyd County, David joined Terena in her longing to once again be among the trees and the hills.   With mountainsides in their eyes and country living in their hearts, the two eventually decided to leave costal South Carolina for Terena’s beloved Floyd County.  “It was a no brainer,” David recalled.  “After years of Terena’s stories, I knew that I wanted to call Floyd home.”
Leaving South Carolina, however, also meant starting new careers.  Taking another leap of faith, Terena decided to devote herself to a part-time bookkeeping and tax business she’d started twenty-five years earlier.  She wanted to add tax resolution to her portfolio, but that required being an enrolled agent with the IRS.  Eager to move forward, Terena finished the nine-month training course in just three months. “I have always wanted to help people,” says Terena.  “Now I can help them resolve their tax issues. A lot of clients contact me when they are at their lowest point.  Levies have been put their assets, or their wages have been garnished. I get the levies and garnishments lifted so we can proceed with a resolution.”
On a new path, Terena’s business grew so rapidly that she added two employees.  Though her office is in Floyd County, she has clients all over the United States, as well as in Puerto Rico.  By converting her dining room into a home office, she was able to cut down on overhead and pass the savings on to her clients.  Terena prides herself on being able to offer prices that big companies just can’t match.
“It’s amazing to see what Terena can do,” says employee, Judy Dickerson.  “She keeps up with all the new tax laws and looks for every deduction when she prepares a tax return.  I never knew that an enrolled agent could negotiate with the IRS to resolve tax issues that benefit the tax payer, but she does.”
In addition to all the new IRS laws, Terena also keeps herself up-to-date with all the latest state-level laws. She also has a high success rate in dealing with troublesome tax issues.  “It is rewarding to see a client go from a state of despair to being at peace with the situation.”  Here are a few of her success stories:
One client owed over $104,000 to the IRS.  After reviewing the taxpayer’s information, Terena proceeded with an Offer in Compromise to completely resolve his tax debt.  The IRS reviewed the information and accepted the offer.
Another client owed over $400,000.  Based on the taxpayer’s information, Terena recommended proceeding with a Currently Not Collectible Status to prevent collection activity until the Collection Statue expired. The Currently Not Collectible information was reviewed and accepted by the IRS.  The client was placed in Currently Not Collectible Status. Yet another owed almost $20,000.  This time, Terena recommended the client proceed with an Installment Payment Arrangement, since he did not qualify for an Offer and Compromise or a Currently Not Collectible Status. The IRS suggested a monthly payment amount that did not fit into her client’s budget.  Terena negotiated a lower payment amount, which the IRS ultimately reviewed and approved.
Terena would like everyone to know: “The worst thing a tax payer can do is to not file taxes and ignore the IRS. You can always ask for an extension or work out an installment agreement plan.  By ignoring the situation, mountains of interest and penalties accrue until you are overwhelmed. Eventually, the IRS will file levies and garnishments.”
She recalls one client who’d not filed their tax returns for five years. The IRS had prepared returns on the client’s behalf; assessing large amounts due on each year without any expenses taken into consideration. The final figure was substantial, and the client was frantic about not being able to pay. After reviewing the expenses for each of the missed years, Terena recommended the benefits of filing the original returns using expenses incurred. Once the returns were posted, the client’s IRS debt was significantly decreased.  A payment plan was then set up that the client could afford.
With a smile on her face, Terena says, “Every day, I am glad that I moved back to Virginia and decided to devote my time to a business that I enjoy operating. It’s great to be back home.”

Tee’s Bookkeeping and Tax Service www.teestaxes.com • 540-505-4200 • teesbookkeeping@swva.net