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Tax Related

Military Spouse Annuitant Gets SBP With DIC and SSIA

Writing Q&A, Questions and Answers on a blackboard.

“Dear Jim, Military spouse annuitant account. Receives SBP with a DIC offset also SSIA. Where do I report this income? Mike” Don’t miss our free Get Out of Debt – “How To” Guide Series on a number of topics, for loads of practical advice, tips, and help to beat back debt. – Click Here The Answer Hi Mike: I do ... Read More »

Can Our Old Home Qualify for Tax Forgiveness if We Rented it? – Kevin

IRS

“Dear Jim, Bought a house in 2006 as my primary residence for 185k. In 2009 we receieved an appraisal of the property for 90k from the county. In the middle of 2009, I had to take another job which required a move across the US. With no time to try to sell the house, I decided to rent it out ... Read More »

I Receive a 1099 for a Forgiven Student Loan. How Do I Pay the Taxes? – John

IRS

“Dear Jim, Parent plus loan forgiven in Permeant disability. Received 1099C for $53,000 Loan amount and $33,000 in Interest. How does one pay the taxes when the only income is SS Disability. John” Don’t miss our free Get Out of Debt – “How To” Guide Series on a number of topics, for loads of practical advice, tips, and help to ... Read More »

My Husband Committed Suicide and Left Me With IRS Debt. – Kathy

IRS

“Dear Jim, I’m dealing with a situation where I was married for 11 years. It was a very abusive marriage. To make a long story short, he committed suicide, since then the IRS has been hounding me, garnishing my wages and threatening holds on my bank account as they have made me liable for all of his back taxes, which ... Read More »

I Can’t Get a Private Student Loan to Finish My Nursing Degree With a Tax Lien. – Shelia

education

“Dear Steve, In February 2012 I filled for an Offer In Compromise with Georgia Department of Revenue. I am a nursing student and I am not employed. I received a call from the State Department wanting me to make payment arrangements for $50.00. I explained that paying $50.00 a month will cause a hardship and is not feasible since I ... Read More »

Can I Be On Two Different Payment Plans With the IRS? – Mary

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“Dear Jim, Currently on a payment agreement with the irs for one year, with payments being $25.00 a month. I’m not employed, but I am seeking employment. Most likely my next employment will be of minimum wage. I have nothing, no properties, cars, nor any type of valuables. The due amount is about $16,000. For taxes of Yr 2010. I ... Read More »

Capital One Sued Me and Lost But Issued Me a 1099 and Now I Have to Pay the IRS. – Paul

IRS

“Dear Jim, Capital one sued me on a debt and it was dismissed without prejudice , they didn’t show up. about 7 months later they sued me again. this time i hired a lawyer and it was dismissed with prejudice. they can’t sue me again..yay. now almost a year later. i get a letter from IRS saying i owe back ... Read More »

Why Did the Credit Union Report My Forgiven Debt on a 1099C? – Anthony

Form-1099C

“Dear Jim, I took a personal and car loan out from a federal credit union was unable to pay. Just spoke to IRS they had me setup payment arrangement & told me that i might not owe because bank did a 1099c. Supposedly it was reported as earned income,but this is the first time I’ve heard about it. If i ... Read More »

I Owe the Government Money and They Are Taking it From My Pay. – Vince

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“Dear Jim, i need to pay the gov. back over 10,000. they are taking my money from my pay leaving me with hardly enough to live.on.i need to pay back taxes to them. plus the mva. i want to pay but its taking to much and to long. i need help of some kind please! can you help me with ... Read More »

What is My Best Course of Action to Resolve My Problem With the IRS? – Steven

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“Dear Jim, I failed to file for the years 1999 through 2006. I have now filed all of the missing returns, as of the end of 2011. The resulting tax and penalties is $300,000+. My financial situation is very bad, as the result of two periods of unemployment. I don’t have the savings or the income to pay this debt. ... Read More »

I’m Way Behind in Paying My Payroll Taxes. How Can I Work With IRS? – Daniel

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“Dear Jim, I own a fire protection company that does around 4 million a year. It is a c corp. We are $500,000 behind in payroll tax,s. Our business is picking up substantually and I believe we will make it through this extreme situation Can you help me What is the best way to work this out with the IRS ... Read More »

The IRS Rejected My Offer in Compromise Submitted by an Attorney, Twice. What Now? – Bradley

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“Dear Jim, Presently paying state 616 per month for 60 months paying. Paying fed 1780. Per month for 72 months After using an in effective attorney failed offer in compromise twice is there a better deal that I can make with state and fed? Bradley” Don’t miss our free Get Out of Debt – “How To” Guide Series on a ... Read More »

It’s Been So Long. Do We Still Owe the IRS? – Sam

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“Dear Jim, The IRS is still trying to collect $15,000 from 2000. We were in Chapter 13 in ’08-’10 and the BK was DISMISSED in Dec. ’10. In Oct. of 2011 we began making monthly payments of $50. These payments are toward the $15,000 and $640.00 assesed for 2009. Do we still owe the $15k? We entered the agreement AFTER ... Read More »

My Husband Died Recently. How Should I File My Taxes? – Theresa

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“Dear Jim, My husband dies 2 months ago. He didn’t have life insurance. His pension stop & I work so I won’t get SS. We didn’t have taxes taken out of his pension or SS. We paid it when we filed. We have 2 daughters 1 14 & the other 18 and started college. How should I file my taxes? ... Read More »

What Company Can Setup a Levy Release Payment Plan With The IRS for Me? – Yolanda

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“Dear Jim, I currently own back taxes and just had my bank account hit with Levy. What tax relief company can help get the levy off and set up payment paid that can support my budget. I just started work and have alot of bills. The levy placed my account in a negtive, can’t pay my rent and other items ... Read More »

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