Question: Dear Jim, Over 23 years ago I owe the IRS $6000 for an overpayment/refund from them. Over the years that amount was changed with penalties and interest is now $200000 or more. Now I 72 years old and have been receiving SSN with a garnishment payment every month. Last year they took $2000 out. …
Question: Dear Steve, In December of 2012, my wife was laid off from her job. As a result, I sought, and by the grace of God, obtained a new job that paid a lot more. When we filed our 2013 taxes, she failed to inform me of “other” income that she had received, including unemployment …
Getting a mortgage will probably be the largest transaction of your life — no doubt, it will have an impact on your finances for the next 30 years. With that in mind, when it comes to how much you can borrow for that big transaction, any debts you have now will reduce that amount. And …
“Dear Steve, My boyfriend has the IRS after him from a 2009 audit that went into noncollectable status in 2010. Recently, we have had a knock on the door and a note left from the IRS with impending doom. My girlfriend said that adding a second person on the bank accounts will prevent any bank …
“Dear Jim, I was audited by its in 2006. It was because the tax preparer was listing me as single when I was filing head of household I am married but my husband worked seasonal. The irs sent me a letter stating I owed them $12,000. So they took my taxes. I filed for bankruptcy …
“Dear Steve, 56 yrs old getting a divorce, left with much Irs debt from husband have to go back to school to refresh my nursing skills. Selling my house to pay off Irs and morgage and car. Will have to start all over (small apt, work full time ect.) My bank of america loan from …
“Hi Steve, I am the perfect storm of a life changing full life debt nightmare!( A little dramatic perhaps, but here goes) I am a 34 year old mom of a wonderful son. I started a small(and at the time, successful) business out of my home in 2005. Things were great, bought a house in …
“Dear Lewis, I’m on a fixed income being on disability and can’t aford to pay off the items on my credit report. Can I file on my entire credit report, including my IRS fines? Michael” Dear Michael, That is a common misconception in bankruptcy – that one can file on certain debts, but not others. …
“Dear Steve, About a 5 months ago I went on a payment plan with the IRS for past due taxes of 5 years. 34000 – $578 monthly. After I went through my finances with IRS $578 is what I have left after all my living expenses. IRS dose not include Charge cards Payments as expenses …
“Dear Steve, I have spent the last 6 years being involved in risky startups and ventures. I have used my life savings for these ventures as well as racked up a good amount of credit card and tax debt. We just had a baby boy 4 months ago – and I am completely focused on …