Hope you guys can help me out, here is my situation. I am 25 years old, I was 20 when I started my own business. The store did well for awhile but I ended up closing it up and I owed money to IRS. I have paid my income taxes I was behind on down to 425.00 and I checked my credit report and I have a tax lien on my report from 2005. I'm sure it's sales taxes from about 3 months where I didn't pay, I wanted to but I was dead broke. The lien was on the store itself and inventory in it but the store's inventory was sold right before the lien was filed so the lien is still on me. The problem is I don't know how much I owe, this was a small business and my taxes wheere usually like 300 a month so I'm figuring I owed about 900 to start with plus late fees. Who do I contact to work out a payment arrangment? & Should I keep my bank account?
2007-08-05 05:47:55 · 6 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Yes, I have a personal bank account with all my money in it. I don't want them to take all of it so should I get it out?
2007-08-05 06:41:30 · update #1
Contact your state department of revenue. If you told us what state, we could give you the website link. You need to get it cleared up, as the lien will not go away, but will keep getting larger.
2007-08-05 09:28:59 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I had one of these once for a business that I closed. I did not owe anything but it took five years to convince them and get it corrected. The lien still appears on some credit reports although I think I have notified them all. Anyway you need to contact the agency that collects sales tax in your state. Once you have gotten it all resolved you need to go to the records office in your county and get a copy of the "removal of lien". Carry that with you any time that you are going to do anything that involves credit. As for money in your personal bank account I can't advise you to remove it, however those funds are subject to seizure if they wish to do so.
2007-08-05 06:44:35 · answer #2 · answered by ? 6 · 0⤊ 0⤋
The state government is probably the one who administers the sales tax. Maybe the Dept of Revenue. Check the state's web site.
If the business is closed, what are you talking about when you refer to the bank account. Is there money in the account? Use it to pay the taxes you owe.
2007-08-05 06:01:47 · answer #3 · answered by hottotrot1_usa 7 · 1⤊ 0⤋
Do not be at all shocked to find your amount due is now triple what you owed back then with penalties and interest.
Are you tallking your personal account so they can not take it?
The IRS and probably State taxing agencies do not have to get judgments in order to take money from your accounts.
2007-08-05 06:21:23 · answer #4 · answered by Anonymous · 0⤊ 0⤋
no longer understanding the finished tale, I refuse to bypass judgment on every person. From my very own adventure i will say that each individual could make a mistake, even on their tax varieties. notwithstanding, that's unquestionably pathetic that a number of the incorrect wingers rant a pair of few democrats making blunders on their tax varieties commencing from some hundred funds to three thousand funds, calling them "tax cheats" and accusing them of "tax evasion" yet then turn around and infer that Arnie's $79k mistake is negligible while in comparison with a $1k errors.
2016-10-01 11:03:18 · answer #5 · answered by ? 4 · 0⤊ 0⤋
Contact the state tax office that handles sales taxes. The debt has probably ballooned since '05 but they can tell you what you owe.
2007-08-05 06:00:45 · answer #6 · answered by Bostonian In MO 7 · 1⤊ 1⤋