I received this question recently from this site: Need to decide which to file first bankruptcy or OIC. Have outstanding medical bills of approx 12,000 and credit card debit of approx 19,000 plus IRS of $80,000. IRS debt is old and they have filed liens, current status collectible. Heart surgery in 2007 and am disabled. [...]
Archive | August, 2009
Offer in Compromise for Payroll Taxes Not Paid
I was recently asked whether you could file an offer in compromise for payroll taxes that have not been paid. Well, the short answer is, yes, you can file an offer in compromise with the IRS for unpaid payroll taxes. The sticky situation you run into with payroll taxes is that these are corporate taxes [...]
Divorce and Taxes
Recently I read about a divorce matter where the couple had a large amount of IRS tax debt jointly, but in the divorce agreement, one of the parties (the husband, let’s assume) agreed to take on all of the tax debt and hold the wife harmless. You know what happened next, don’t you. Husband did [...]
Getting an IRS Wage Garnishment Released with Unfiled Returns
There’s nothing worse than getting that call or that tap on the shoulder from your payroll person at work wanting them to come talk to you because they have just received a notice from the IRS about the wage garnishment (or IRS wage levy as I may call it) on your paycheck next week. There [...]
IRS Videos and Information on iTunes and YouTube
Our government is getting pretty technical. In fact, it is pretty impressive. First, we get a president that insists on being able to keep his Blackberry by his side and now the IRS has announced that it is beginning to disseminate information for the American public on iTunes and on YouTube. The information will be [...]
IRS Offer in Compromise Returned; Should I Keep Paying?
I recently received this question from a visitor: We filed Ch. 7 Bankruptcy last summer and it was discharged in October. Then, this past Spring, we received a letter form the IRS saying we made an error on our taxes two years ago and owed several thousand after all. We filed to OIC with the [...]
Can You Go to Jail When You Owe Back Taxes?
Question: I received a letter in the mail recently from the IRS stating that I owe taxes, penalties and interest of over $20,000. I don’t have that kind of money. What can I do? Will I go to jail? Answer: I’m sorry that you find yourself in this situation, but to ease your mind, you [...]
