I had my pwn bussiness and now owe money for taxes becuase i went out of bussiness do to lack of income. I need to figure out what i am going to do so that i dont get in trouble. I already lost everything so they cant take anything from me.
2006-12-28 13:22:54 · 2 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
If you owe money to the IRS that you can't afford to pay, you should at least contact them and explain the situation. They might give you an installment plan. Being honest with them is better than doing nothing, because if you just hide from them they will view that as a lack of cooperation and then they will come after you.
2006-12-28 13:30:16 · answer #1 · answered by njyogibear 7 · 0⤊ 0⤋
Call IRS at 1-800-829-4933 (for businesses)
They will arrange something that will be easily affordable.
2006-12-28 22:26:59 · answer #2 · answered by KillerKat 3 · 1⤊ 0⤋