2007-10-04 14:24:37 · 7 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Hey Judy, get real!!
2007-10-04 15:09:23 · update #1
And Bostonia, when they say " don't pay for now " what would YOU call that?
2007-10-04 15:12:38 · update #2
Thanks Wartz, your right but still I ask' " is that fair ?''
2007-10-04 15:16:01 · update #3
dude, pray for fair tax.
2007-10-04 14:26:46 · answer #1 · answered by Anonymous · 0⤊ 1⤋
The IRS is aware of who should be paying back the credit, as evidenced by the letter. While it's too early to say right now, it's likely that they will notice that he didn't include the payment on his return and that this will delay any refund. If he gets a full refund he should file an amended return immediately and include the $500 payment with the amended return. If they deduct the payment from his refund he won't need to take any further action. He should wait and see what happens. Simply mailing in a $500 payment will probably gum up the system.
2016-05-21 02:37:05 · answer #2 · answered by ? 3 · 0⤊ 0⤋
I don't think you understand the situation. Are you unable to pay what you owe right now? If so, and IRS agreed, your account is classified as currently not collectible. Your payments aren't on hold, your account is on ice and will stay that way until your financial condition improves. Penalty and interest will continue to accrue but you won't be hounded for payments. You can still make payments if money is available or attempt to settle the account with an offer in compromise but for now, those choices are up to you.
2007-10-04 15:07:26 · answer #3 · answered by Anonymous · 0⤊ 0⤋
As long as you owe the IRS money, whether the IRS is collecting payments or not, you will have penalties and interest added to the balance due until it is paid off.
What you have for now is the IRS assurance that they will not pursue further collection efforts right now, which would mean seizing your assets, garnishing your paycheck, freezing your bank account, etc.
2007-10-04 16:45:14 · answer #4 · answered by ninasgramma 7 · 0⤊ 0⤋
Are you saying that you are not being required for the time being to make payments on what you owe, but that interest and penalties are continuing to accrue? Sure they can - what's not fair about that.
2007-10-04 14:32:58 · answer #5 · answered by Judy 7 · 0⤊ 0⤋
They can do whatever they want unfortunately.
2007-10-04 14:45:53 · answer #6 · answered by Anonymous · 0⤊ 0⤋
The IRS doesn't put payments "on hold". Please provide details!
2007-10-04 14:31:44 · answer #7 · answered by Bostonian In MO 7 · 0⤊ 0⤋