Question: Dear Steve, I owe over 10,000. in taxes. I have been in prison 3 times in 10 years. Can I file for an offer of comprise to get rid of this issue? The 10,000.imposed come from came pills found on me and sent off to be analyzed and money I got from a home …
Question: Dear Steve, I have recently received letters from the IRS about taxes owed from previous filings (2012, 13, 14). I don’t have the financial resources to pay them outright. I am considering using Roth IRA funds to settle the debts. The IRA was initiated over 5 years ago. One of the exceptions to the …
Bob never intended for it to get this far. When he filed his return in April, he thought, “I’ll pay this off in a month or two.” Somehow, like many Americans, his good intentions fell by the wayside as other urgent financial obligations arose and his unpaid balance at the IRS remained unpaid longer than …
If you owe the IRS taxes and you’re having a difficult time paying, you’re not alone. In 2010, 23.9 million individual taxpayers filed a tax return with a balance due. More than 20 million taxpayers paid the tax with their return, after the first IRS notice, or after receiving an extension to pay from the …
“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 …
“Dear Steve, Single, female unemployed architect for several years picking up small jobs here and there. Recently experienced a traumatic and devastating engagement breakup causing me to replace all of my belongings, while unemployed. Have gone through life savings and 401K while unemployed and temporarily disabled. $78,257 DEBT of which $23,337 is student loans (on …
I do not normally get motivated by IRS changes in collection rules, but yesterday’s change to the Offer in Compromise (OIC) program was fairly significant. As you know, this program allows taxpayers, who qualify, to settle their tax liability in full for an amount less the full liability owed. There are many deceptive companies who …
“Dear Jim, I owe the IRS $26,000. There were some years I failed to file taxes and some years I filed and owed, but they said I never filed, I have the copies. I have all the information except one year. My question is will the IRS settle with me for a lesser amount or …
In an article brought to my attention by a great tipster (send in your tips here), the IRS says it will file fewer tax liens and make it easier to get those liens removed from credit records once the debt has been resolved. Kind of a form of legal credit repair. In these tough economic …
The Federal Trade Commission has issued the following warning to consumers. It’s good advice. Owe Back Taxes? Tax Relief Companies Can Result in More Pain than Gain We’ve helped thousands of people settle their tax debts for a fraction of the amount owed. We can stop wage garnishments, bank levies, tax levies, property seizures, and …
