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Less than $30,000 $30,000 to $50,000 $50,000 to $90,000 More than $100,000 Amount Owed

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Lesley Bunning
President, TNC

 

Ron asked on 7-5-09

Back Taxes (I owe them and I know it!)
Hi Lesley, I had several years of unfiled taxes. I contacted the IRS last fall and they let me know that they needed the returns before we could work anything out so I completed the returns and sent them in. They then started with teh letters and have now contacted my work to garnish my wages. The total amount in question is ~$10k with all of the fees and penalties. If you look at the returns (from 2003-2008) some years I owed and some years I got money back (I owed on my 2003, 2004, 2005 returns and got refunds on 2006, 2007, 2008). The total delta between what I owed for the 6 years and my returns is $2600. They already applied my refunds to what I owe. So now it is teh $2600 and another $7500 in fees, interest, and penalties. I know I owe them and am willing to make payments, an OIC, whatever they will do but cannot seem to get a single consolidated number from them. I know the State of CA has a reputation as being tougher to deal with than the feds, but I have had a payment arrangement with CA FTB and everything has been fine for more than 8 months now. The IRS will just not make it simple for some reason and they are getting ever more aggressive. Can you help? Thanks - Ron

Answer:

Ron, You have several issues going on and we will probably need to talk privately or you can email me at les@taxnegotiationcenter.com for a deeper indepth answer to your questions. Yes, it appears an offer is your answer but that is based on a formula. Would you please go back to this website under take the test drive and listen to my 7 minute video on who is eligible and for what amount of compromise. If you are anywhere close you may be a candidate and we will move forward from there?I wrote a program the Tax Freedom ToolBox for 129.00 to 999.00 to help people with their offers and we can talk about that after we see where you are.I actually have better luck with the IRS than the State, so you were lucky. If you are not a candidate for the offer then we can get the total owed for you and we are very lucky at getting payment plans where they are affordable. let's talk latter lesley

Aaron

On 4th of July Aaron asked
I know I owe and have owed monies to the IRS. I've actually paid them back twice. This year, however, the IRS has come to me three times about two different tax years and money I moved from my 401k to buy my home. I know I should've paid taxes on the 401k money, but I was under the assumption that if all of the money was used for my first home I didn't have to pay it. Right now between owing for 2006 and the house money in 2007, the IRS is saying I owe 23,000 dollars including fees and penalties. How do I handle this? It seems that if I pay the IRS once or twice they just keep hitting me up as if I'm always going to pay with no questions asked. It's like they're a big bully looking for my lunch money. Please help if you can. Aaron

Answer:

Happy 4th of July Aaron, I am sorry you were misinformed about the 401K and borrowing on it for a 1st home purchase. You can borrow from an IRA and not be taxed, but not a 401K. You will find people borrowing against a 401K, then repaying over a structured time frame. That would avoid the money being taxable.That may be where the confusion came in, you should always call your tax preparer or financial advisor prior to touching retirement funds.

Well, you owe it so let's see what we can do to help you. Could you afford to pay 400.00 or 500.00 per month for 60 months? If that won't work for you then you will need to contact the IRS, they will have you fill out a financial statement that will determine if and what your monthly payment will be. Either way you will have to contact them and fill out paperwork due to the the dollar value of what you owe with interest and penalties.

If you are uncomfortable talking to them, like most people.... give us a call and we can talk about our helping you. Please email me at les@taxnegotiationcenter prior to calling them and I will help you with the National Standard questions they will ask. This will ensure you get all of the deductions you are allowed."

" The majority of people that I have worked with in the last 2 decades who fill out their own 433A statements for the IRS;find that they are doing a disservice to themselves and their family. I hope this helped you?If you need additional help, feel free to email me. Lesley"

"

Tom asks on July 1st 2009

ATTN: The IRS is aggressive and not giving notice right now!
Tom asks "if the irs levys my wages do they take everything? so i dont get a check anymore?"

Tom - The IRS will not take your entire check but they will take a large percentage of it based on your gross earnings and your take home pay will be greatly reduced. Do you have a 10 day notice? This is very important, because all of the rules have changed on enforcements right now. The IRS is active and aggressive these last few weeks. Their activity is up and they mean business.

It used to be you get one notice 5 times six weeks apart prior to action from them. NOW We are finding they are not giving us that 20 to 30 week highway to work on. They are bypassing them and going directly to the bank or the employer. Please don’t wait this time.

I need to ask you a few questions to better help you. It is better to go to them prior than their coming to you. I am a professional and it takes me 5 hours to get a garnishment on wages released. Are they doing so because you owe taxes on years you filed but could not afford to pay? Or are they doing due to un-filed back returns?

There are several things we can do to stop this if we know ahead of time what it is about. I would need to now if you are married, how many in your household, what you make and what you owe them?

If you have filed all years but can not pay them and your facts support that; then they have an UNCOLLECTABLE status you can go on for a year. That will give you the breathing room you need to catch up. If you are un-filed, which isn’t all that unusual…I get people who have not ever filed daily. If that is the case and we call them, we are fairly lucky at securing a 60 day HOLD on wage garnishments while we get the returns current. Or you prepare them or a relative or a preparer in your town, either way they will need to be done. We would have access to the income information for the back years provided to us by the IRS.

Arnold

Corporate payroll tax owe over 425K
My Corporation is closing down due to the loss of revenue I have to close the doors. I am President and my daughter is the Vice President and we both signed the paychecks and we responsible for the deposits. The IRS just left our office and informed us both we could go to jail and we both are responsible. My wife works with us but didn't sign checks she was the dispatcher, is she on the line also? How can I ever at 64 payback this enormous debt? My daughter is a single mom and 34 with a long life to live, how can I take all of the responsibility and leave her free from the IRS? Is there a way to save her? Help I have ten days to be to IRS and be interviewed. APW

Dear APW,

The interview you will be attending is called the “Trust Fund Recovery Penalty” interview. It is standard protocol for your situation and it can be held at your place of business or at the IRS.

The meeting is to establish who in the corporation had the decision making authority over the flow of funds. They are searching for who directed the money. Was it one person? Possibly two people or a board of people? Did any person or persons abscond with the money due for taxes; such as in taking an additional 450,000 dollars to build a vacation home?

If for example; your daughter signed the P/R tax deposit checks and gave you those checks along with the other bills to pay and you didn't do it, then you made the decision and it is possible that you can be held solely responsible. It will all depend on your answers and the circumstance that unfolds.

It is a fact and circumstance meeting.They will be looking for who is and was on the bank signature cards for the periods not paid, they will summons your bank records and they will dig deep.

One more example; In other cases when a business might hire an outside bookkeeper or CPA to come in once a week and they direct those types of decisions then they become the culpable party, also. It isn’t always the owners, it is the director or director's of the funds.

If you were my client I would fill out the form with you ahead of time. We would go to the interview together.We would plan our answers.

Your wife based on the facts you submitted is not responsible.

Here is My 25 year suggestion based on many of these interviews;

1. Don’t miss or be late for the meeting

2. It is one hour and for that one hour you should remain calm and poised. No anger, or aggressive behavior they retain the power during this meeting.

3. If they infuriate you, smile.

4. If they threaten jail, cry.

5. Very few people ever go to jail.

6. There are many options open to you to salvage what you have left; such as the IRS Offer in Compromise program. .

Please let me know if I can help you further - Lesley

Deb asks on June 29th

paying off back taxes
hello, I am from Florida, My husband was hurt in 2004 during a hurricane and I am also a dialysis patient, between both of us we have been in and out of the hospital many, many times. I sent in my tax returns, but the IRS said they didn't recieve them, I made copies and sent in my 2004, 2005 and 2006 returns. We want to pay the taxes, but with the penalties and interest it is beyond all the money we can borrow. We just want to compromise a reasonable amount so we catch up and clear everything up. what can we do?

Answer:

Great question Deb, What I like to tell people is that there are several options to look at based on a fact pattern. To help answer your question we have prepared a 7 minute video on this site that describes what an offer in compromise to the IRS is, and who can qualify for one.

Based on your question you should qualify for the offer program. When you have an illness it can promote a more lenient compromise.

Have you filed your 07 and 08 tax returns? You need to be current on all filing requirements to start an offer. An offer is the ideal program for accomplishing what you are asking, in fact the only program that will do what you are asking.

The Offer (OIC) was devised to do what you are trying to accomplish; over 90% of all offers are rejected for several reasons. All situations are different and an individual assesment is needed for your situation.

Here are some basic questions we need answered. 1. How old are the two of you? 2. How much do you earn each month? I need gross and net if you are wage earners or an income source if self-employeed. I NEED TO UNDERSTAND HOW YOU RECIEVE YOUR INCOME AND I NEED IT dividually? Please don't use names or give anything that someone could use against you in this format. It is an open forum for all to read, we are looking for scenarios that represent your particular problem. 3.Do you own a home and do you have equity in anything? A house a car a rental or how about retirement accounts where do they stand? 4. How many people in your household?

I just need approximations for now. I am working on an offer theory based on the IRS OFFER calculations and formulas. So, when you get back with me I can better help you.

josie asks this on June 24th

location
Where are you located? Are you a big firm? Can you help me even if I do not live in your State?

Answer:

Josie we are a small firm located in Sacramento Ca. we are comprised of 4 main partners My self Barbara Corona,Rachelle Reynolds and Jyothie Armbruester. They are respectfully 30 and 20 year retired IRS agents, Revenue Officers and training team leaders in the Offer in Compromise division of the IRS. They know all of the in roads behind the IRS curtain.

Then there is me...I am a 25 year veteran working up against the taxing authorities brokering the best deals I can for my clients. Our firm has yet to ever lose an OFFER, but then again we make sure that it is an acceptable offer before we take our clients money.

Jyothi is our newest addition as partner due to her compassion and empathy for all people she is our greatest new talent and she is very good at helping our clients find the help they deserve and figure out a solution especially with respect to payment plans...for our services.

We have offer experts, garnishment guru's, lien subordination heros etc. That's us.

We have 75 years of combined experience in the IRS Problem Arena. Across state lines we help people daily. With today's technology it is very easy to service people.We have one couple in Tailand we are helping and one in Costa Rica many more in Florida and New York to name a few.

THIS is your life and the wrong person or firm can cost you thousands, waste your money, do nothing for you and you could lose your case. Trust me when I say "I see it daily." It is more important to find the rating of the firm, the length of time in business in their community and their expertise. Be careful as you move through the internet in search of a reputable firm. There are lots of good firms out there if you do your homework. Lesley

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