2007-01-01 03:28:06 · 8 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
You should go down to the local IRS Tax office and explain your situation and they should take care of it for you. I once had the IRS say that I had interest in a bank account that I didn't declare.
At first I automatically was going to pay the increase in taxes, but then I thought to my self, If I had that much interest on an account then the account would have had an enormous amount of money in it and I knew I didn't have any account with that much money. So I went to the bank and talked to a manager and he checked it out and found that no such account existed and he wrote a letter for me stating as much and that the IRS made a mistake. (Oh, yes, when I went in, I told them that I wanted to close out the account - if I had that much money somewhere I wanted it) I sent the letter to the IRS and that was the end of the problem. Or if I were you, I would go the person who made out your taxes and show them what the IRS is claiming and he will have to straighten it out for you. If you had made out your own taxes, then go to a tax adviser and have him straighten it out for you. He will charge you naturally, but it will be worth it.
2007-01-01 03:40:26 · answer #1 · answered by Dale 6 · 0⤊ 1⤋
You can go to the IRS website and search for an "Offer in Compromise". Also required is a financial statement that you would need to fill out, showing your cost of living and all your assets. The IRS has standards that they use to show how much you need to live on.
You can go bankrupt on the IRS, but the debt needs to be no less than three years old.
First, I would get a tax professional to look over your prior tax returns and see if there were mistakes made, or deductions not taken. I wish you the best of luck on this one, just remember, you need to jump on this quick, because interest is constantly building and causing the debt to go higher.
2007-01-01 11:40:55 · answer #2 · answered by sylvrrain 2 · 0⤊ 0⤋
Get a tax attorney or enrolled agent to represent you in dealings with the IRS under these circumstances. This is not going to just go away.
Do you disagree with their calculations? Remember that interest and penalties will have been accumulating. If at one time you really did owe them, and haven't paid, you have a huge problem. They can and will take many of your assets to satisfy your debt.
If you feel you do NOT really owe these amounts, that mistakes have been made in the calculations, then you'll need documentation to prove this - take that to the person you hire to represent you.
Good luck.
2007-01-01 11:34:12 · answer #3 · answered by Judy 7 · 1⤊ 0⤋
The IRS will give you a payment plan, or Will allow you a one time settelment Talk to them. You can't file a bankruptcy on the IRS
2007-01-01 11:31:04 · answer #4 · answered by Anonymous · 0⤊ 0⤋
It is not a crime to owe money. It is a crime to fail to report income. I am assuming you owe money and did not fail to report anything. Sit down with the IRS and they will work out a payment plan with you. Good luck!
2007-01-01 11:33:30 · answer #5 · answered by Orion777 5 · 0⤊ 0⤋
Pay it or they will hound you for ever. Get a lawyer will help but if you owe them they will collect some how....
2007-01-01 11:30:13 · answer #6 · answered by Texan 6 · 3⤊ 0⤋
call ronni today!!! she settles irs taxes for as low as $20
2007-01-01 11:31:19 · answer #7 · answered by silentjealousy77 4 · 0⤊ 2⤋
File for bankruptcy.
2007-01-01 11:30:44 · answer #8 · answered by Anonymous · 0⤊ 3⤋