I CANT AFFORD TO PAY THE IRS....AND I DONT HAVE ANYTHING THEY CAN TAKE.......IS THERE ANYBODY THAT CAN HELP ME??????
2006-12-18 16:33:23 · 8 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Even if you can't pay, contact the IRS immediately and work with them to set up something (an installment plan) to allow you to pay even a small amount each month.
Dont' wait. You don't want to go to jail because of unpaid taxes.
2006-12-18 18:06:21 · answer #1 · answered by AK 5 · 1⤊ 0⤋
All this talk of going to jail is ridiculous. First of all, you will receive (and ignore) at least 5 letters from the IRS before they will even threaten to take your property. Second, they don't send people to jail just because you can't afford to pay. They generally reserve that for fraud cases.
If you call them, or even go down to the local IRS office, they will sit down and work with you. Basically, the worst that will happen is that they keep adding interest, so you need to talk to them as soon as possible.
Be strong, Grasshopper!
2006-12-18 23:01:52 · answer #2 · answered by Anonymous · 2⤊ 0⤋
Offer in compromise is form 656, available on the IRS web site. Application for an installment plan is on form 433D. In either case, you will need to give them your financial info on form 433A. The offer in compromise has to represent the value of at least as much as they could collect from you. If you have $100 per month after expenses, they would take the present value of $100 for 48 months to determine the value of your offer. My guess in the example would be about $4,500 as a lump sum. You may also ask for a part pay offer in compromise, where you shoot for paying back part over time.
2006-12-19 06:57:48 · answer #3 · answered by mattapan26 7 · 0⤊ 0⤋
You can make an offer in compromise with them. You wold show them your assets, liabilities and income and expenses. Make an offer of 5 cents or 10 cents on the dollar. If they agree that you can't pay they may accept your offer. If they don't agree they would work out a payment plan with you.
If you are not sure how to do this I would recommend that you engage a CPA or a tax attorney that is familiar with offers to help you.
2006-12-18 22:18:23 · answer #4 · answered by waggy_33 6 · 0⤊ 0⤋
I would advise that you contact IRS before the possibility of going to jail becomes an issue.
2006-12-18 16:45:36 · answer #5 · answered by badbill1941 6 · 0⤊ 0⤋
Contact the Taxpayer Advocate office in your area. They will help you with an Offer in Compromise. Download forms 433-A and 433-B if needed. Fill them out as completely and honestly as you can. Take the forms to your meeting with the Advocate. Good luck.
2006-12-19 02:59:42 · answer #6 · answered by daoco 4 · 1⤊ 0⤋
If the taxes are for income, more than 3 years old, and none of the above options work you might take a look at bankruptcy.
2006-12-19 08:38:54 · answer #7 · answered by woodluvto 2 · 0⤊ 0⤋
You need a real answer. Go to the library and look up births around the time you was born. Get a new identity and voilaa. Look up anarchy cookbook for the rest of the info.
2006-12-18 17:02:14 · answer #8 · answered by Randy Jay 1 · 0⤊ 2⤋