we were audited with our 2004 tax refund and given 90 days to give all receipt we file.and we owe 40,000 aside from thati dnt know what to we are on low income.but good job im tired working already.i want to start homemade bussiness that means i have to get money from our monthly income again.i dnt want to consolidate or file bankrupcy.pls help.
2007-04-11 09:57:26 · 10 answers · asked by shebang 1 in Business & Finance ➔ Taxes ➔ United States
Yes, you need to pay. The IRS is one creditor that you don't want to mess with -- they can take nearly everything. And bankruptcy won't help because a debt to the federal government isn't discharged during bankruptcy. Plus, you can likely be charged extra fees for evading payment.
The best thing to do is probably to be direct with them about your financial situation. They can work with you to set up a payment plan. Other than that, you might want to talk with an attorney.
2007-04-11 10:08:32 · answer #1 · answered by Julie 3 · 0⤊ 0⤋
Yes, you need to pay, and if you suddenly quit a good job to avoid having money for them to take, don't expect them to just say OK because you're tired of working - they'll start seizing your assets, or if this is seen as deliberate, you could be in serious trouble.
If you couldn't produce receipts when you were audited, you can't have been real surprised that you ended up owing money over items you had claimed but didn't have documentation for.
Filing bankrupcy wouldn't discharge your tax debt anyway.
2007-04-11 11:08:17 · answer #2 · answered by Judy 7 · 1⤊ 0⤋
I don't know how an Attorney can help you?
You can't Sue the Government.
Work out a payment schedule with them.
Do It now before it's due.
2007-04-11 10:09:27 · answer #3 · answered by elliebear 7 · 0⤊ 0⤋
You're better off trying to avoid paying a loan shark than the IRS.
2007-04-11 10:11:27 · answer #4 · answered by Barry auh2o 7 · 0⤊ 0⤋
Yes, you'll have to pay. But you can apply for an installment plan with the IRS.
2007-04-11 10:53:48 · answer #5 · answered by Bettina C 2 · 0⤊ 0⤋
Bankruptcy wouldn't help you anyway.
yes, you need to pay. They WILL take everything you own, now and in the future. They charge killer interest.
You stole $10k from the American Citizens. We want it back.
2007-04-11 10:01:36 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Don't worry, the government will find a way for you to pay them back.
2007-04-11 10:05:24 · answer #7 · answered by chelebeee 5 · 1⤊ 0⤋
the IRS will MAKE you pay. you don't have to do anything. they will take care of it all.
however, you can work out a payment schedule with them to pay it.
2007-04-11 10:00:26 · answer #8 · answered by Debt Free! 5 · 2⤊ 0⤋
you need to pay.
Ask for a revised payment plan? Maybe they do that.
2007-04-11 10:01:06 · answer #9 · answered by Donna W 3 · 1⤊ 0⤋
What you need is an attorney.
2007-04-11 10:00:49 · answer #10 · answered by BosCFA 5 · 0⤊ 0⤋