Tag Archives: back taxes
- My Parents Are In Serious Debt. Should They Save for Retirement? – Elizabeth
My dad lost a job many years ago, and was depressed and didn’t file their income taxes for 10 years. They owe 77k to the government, and they put in an offer in compromise with the IRS, but were told that they should be able to pay they full amount. At this point they have [...]
- Can I Get Rid of Back Taxes in My Chapter 7 Bankruptcy? – Jacquelyn
“Dear Jim, I am converting from chapter 13 to a chapter 7 and I have owed federal taxes in it they will work with me on it won’t they? Will they work with me to pay back my taxes? Jacquelyn” The Answer: Dear Jacquelyn, Thanks for the question. Although bankruptcy is filed in federal US [...]
- I Did Not File My Taxes and Now I Have an Outstanding Back Balance. I’m So Depressed. – Dan
“Dear Jim, I have aquired a huge mess by not filing my taxes and need advise. I am very depressed about my situation. I have an outstanding balance for back pay child support and now I have back taxes I owe. I have a wife and a six year old beautiful child. I am a [...]
- I Owe the IRS a Lot of Money and They’ve Put a Lien on Me. What Do I Do Now? – George
“Dear Jim, I own IRS appx 40,000., 65,000, with penalties and interest in back taxes. IRS recently notified me of a lien for almost 40,000. I want to set up an installment plan with the irs over 5 years to pay all the monies due. I am a retired federal employee and make approx 90,000., [...]
- Owe The IRS? Here Are Eight Awesome Insider Tips to Make it Less Painful and Cheaper
The following guest post was contributed by Jim Buttnow. Jim is a licensed CPA who spent 19 years with the IRS coordinating large compliance teams of IRS agents and specialized personnel. In the last 5 years, Jim has invented consumer and practitioner software and treatises on how to address many different tax issues. He has [...]
- Former IRS Agent Tells Tax Debt Relief Services May be Dangerous to Consumers
photo © 2007 paul stumpr | more info (via: Wylio)Jim Buttonow, a CPA and former IRS Agent has released information about why the very premise of selling tax relief services for an advance fee is something consumers should be protected from. Below you will find submitted comments to the Federal Trade Commission regarding the selling [...]
- Can I Get Rid of IRS Debt in Bankruptcy? – Julia
“Dear Steve, If I file bankrupcy will any of my IRS debt be forgiven? I owe for every year since 2000. Julia” The Answer: Dear Julia, Yes, you can discharge IRS debts in bankruptcy. The taxes must be more than three years old at the time the Bankruptcy was filed. The three-year period begins to [...]
- Phony Tax Relief Scams Need to Be Avoided
As tax day approaches, California Attorney General Edmund G. Brown Jr. today urged Californians to avoid “phony tax-relief companies” that charge taxpayers up to $3,000 in up-front fees to reduce or eliminate back taxes owed to the Internal Revenue Service (IRS), but provide no actual relief. “Every tax season, phony tax-relief companies emerge to exploit [...]
- How Do I Uncover My Wife’s Hidden Debts? – Denny
Denny wrote to me through the GetOutOfDebt.org site and asked the following question. If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free. Income from the GetOutOfDebt.org site advertising is used to help alleviate poverty. If you would like to [...]
- I Recently Bought a Business That Isn’t Doing Well and Owes the IRS. – Susan
“Dear Steve, I recently bought a business that isn’t doing well. I’m just making enough to pay the business expenses with zero left over. I’ve accumulated $68000 in debt plus an additional $81,000 in a Home Equity loan due to a gambling problem I have. I’ve since gotten help for the habit and haven’t gambled [...]
- Advertisements About Eliminating IRS Debt Not Honest
Attorney General Abbott Charges JK Harris With Misrepresenting Its Ability To Reduce Unpaid Tax Debts South Carolina firm’s advertisements overstated, misrepresented its tax resolution services AUSTIN – Texas Attorney General Greg Abbott today charged JK Harris & Company, LLC, its owners and two related firms with materially misrepresenting their ability to help Texans resolve their [...]
- Tina Says “My CPA is Under Investigation For Fraud”
Tina wrote to me through the GetOutOfDebt.org site and asked the following question. If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free. Income from the GetOutOfDebt.org site advertising is used to help alleviate poverty. If you would like to [...]