2007-09-20 12:16:50 · 6 answers · asked by maw 1 in Business & Finance ➔ Taxes ➔ United States
In some cases YES you can get amnesty for some or all of your debts to the IRS. You really need to see a tax lawyer for this issue to best protect yourself. You can go to the website irs.gov and check on the forms.
2007-09-20 12:23:24 · answer #1 · answered by aswkingfish 5 · 0⤊ 0⤋
To best of my knowledge, the feds have never had a amnesty program of any sorts.
If you qualify, you may be able to make a settlement offer for less than you owe. This is a rather complex process. The "form" itself is 64 pages long. Go to IRS.gov and look up "Offer in Compromise". Be forewarned, settlement offers with the IRS are for people who can not pay and are not for people who do not want to pay. Unfortunately, most people fall in to the latter category. Also, the IRS says "No" over 80% of the time to settlement offers.
A true "amnesty" program is where you pay all of your taxes and interest and the agency in question waves the penalties. The IRS doesn't have anything like this. They will, in some cases, wave penalties but it is on a case-by-case basis.
2007-09-20 12:46:17 · answer #2 · answered by Wayne Z 7 · 1⤊ 0⤋
There is no amnesty. Repeat no amnesty. If you are unable to pay your liability in full and IRS agrees, you can submit an offer in compromise for less than the full amount. If you can pay nothing now without causing hardship, your account can be reported as currently not collectible. If you need more detailed information, you can send me email through my profile.
2007-09-20 12:43:43 · answer #3 · answered by Anonymous · 0⤊ 0⤋
If Hillary gets into the white house there probably will be. She wants to give amnesty to EVERYONE.
2007-09-20 12:23:45 · answer #4 · answered by Anonymous · 0⤊ 2⤋
there is a form where you can declare yourself insolvent, but its difficult to find. look on the back of form 1099c. Its form 982. Hope that helps.
2007-09-20 15:10:54 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Consult with a tax attorney not here on Yahoo.answers
2007-09-20 13:19:51 · answer #6 · answered by Gary 5 · 0⤊ 0⤋