Settle in compromise is a lot harder than what he is explaining . It’s a big scheme companies claim they can do for you but can’t
@enricke805 ай бұрын
What is the way then??
@ClaireBradley-lq4fu4 ай бұрын
@@enricke80You can reach out to *hack12jimmy_* I was able to move from distressing experience
@doughawk15074 ай бұрын
IRS is not part of the government.It is not a registered agency.In the chapter thirty one it is a private collection agency for the private federal reserve
@donnagunnell54556 ай бұрын
Income tax is 💯 % illegal. This is sick. On ss and can barely get by. They tax my ss to the tune of 3 grand a year. How am i suppose to save that much on ss. Tell me HOW
@ClaireBradley-lq4fu4 ай бұрын
Thanks to *hack12jimmy_* I was able to move from distressing experience
@tayyibah48 Жыл бұрын
I had a CPA do my taxes for the first time in 2018 and he apparently forgot to check an box on the form according to an H&R block rep I saw in 2018 and I am now $17 thousand in debt to the IRS! I live alone and pay check to pay check! I appreciate your video and will be looking into the OIC and financial hardship options! Thank you so much!
@ladylyonteeth39522 жыл бұрын
When you liquidate a part of portfolio to pay the taxes (generated by “sells”), you generate more tax burden because you owe now on those “sells” until there is no more. Then they take your house anyway. Such a great system.
@bella500085 ай бұрын
Thank you! On hold with IRS. Had no idea about financial hardship option.
@Jeff_Fulton5 ай бұрын
*hack12jimmy_* saved me from a living nightmare
@Randysmith14 ай бұрын
*hack12jimmy_* was the turning point in stopping the prolonged
@PrivacyPlease9002 жыл бұрын
??? ...free gift from the IRS??? I consider them to be illegal to begin with. Where does it say that people have to pay taxes, in the first place.
@lorigirl659 ай бұрын
I don't disagree. The IRS STEALS money from the American people. However, the 16th Amendment to the Constitution grants Congress the authority to issue an income tax without having to determine it based on population. It reads: "The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration." What a mess.
@SirCavemaninthewest7 ай бұрын
And this kids is why you don't take on the IRS. this mffer will be out of prison in 15 years.
@leetos.49155 ай бұрын
Bible principle or commandment Matthew 22:21 this is the 1st place for someone obligated to pay taxes
@bks2524 ай бұрын
It’s says it in the Constitution. I can’t remember what amendment but I believe it was first passed in 1913 instituting in a Federal Income Tax. It’s bullshit but it’s there.
@gilbertorodriguez1066Ай бұрын
Your gonna be in prison for your tax evasion
@salvadorsalvador47355 ай бұрын
Personally all I can say is that I had enought of this country,came here legally when I was 12 now I'm 32 and every year is the same shit I have to pay or something else happens when filling my taxes, I cant wait into I go back to my country no more paying to sam, personally I'm very disapointed of this country👎
@Jeff_Fulton4 ай бұрын
*hack12jimmy_* is a true hero.
@lamamjforlife3 ай бұрын
✌🏾
@myopiniongoodyouropinionbad2 ай бұрын
And where do those taxes go? Military industrial complex, bloated "education" system, social programs for people who will *NEVER* contribute to society...and every year it gets worse.
@salvadorsalvador47352 ай бұрын
@@myopiniongoodyouropinionbad yes I totally agree with you 👍
@Troubleclef52 Жыл бұрын
I haven’t had to file since 2016. They’ve turned over my $10 offer on my 2011 tax debt ($now $10k) to an investigator in that dept. My SS is nowhere near their allowances. I can’t afford to live in the US anymore. Moved to Ecuador in 2016. 4 1/2 mos to tell me I’ll be contacted in 6 wks.
@anadaker3939 Жыл бұрын
Most people that qualify for IOC are insolvent. In other words, they don't have any assets to pay off the liability. Also, if you receive an IRS notice, don't pay it right away. Give it to a tax professional for a thorough review. Approximately, 30% of IRS notices are inaccurate.
@psalerno69 Жыл бұрын
Omg I'm praying there's hope for my boyfriends situation. He owes 90k and has been so stressed out with no hope of ever paying it back. This video is the first glimmer of hope we've had. He owns nothing and makes less than 40k a year. There's no way he can pay this back and I'm very concerned about his health and well being. Thanks for posting this..I will show it to him!
@TaxLawGuy Жыл бұрын
Yes! There absolutely is hope! Check out the video, and if you have any questions, feel free to give us a call at 330-331-7611.
@psalerno69 Жыл бұрын
@@TaxLawGuy he will be calling you today!! Thank you🙏
@jakesontiano Жыл бұрын
Sounds like you need a new boyfriend
@cat140025 күн бұрын
20 a month for life fakkk it
@cat140025 күн бұрын
Abeyment
@holyddogg75 ай бұрын
Offer in Compromise success rate-have equity in my home and yes have 401k through employer-married with child I have more debt than I make? As far as first time abatement:I believe I did file an extension 2020/2019 is that still considered filing on time-thanks for the information most well explained video on the subject
@bad_vaporizer2 ай бұрын
Ever notice how the federal government is more stringent on the people than on politicians?
@handiable2 ай бұрын
Period! I've noticed that too.
@TheAstralNomad Жыл бұрын
I must be missing something. How can I be current and compliant yet delinquent at the same time?!
@TaxLawGuy Жыл бұрын
You have to be current with your estimated tax (for future taxes owed) and compliant with your tax filing obligations (all of your returns filed). So you may have back taxes owed, but you have "stopped the bleed" so that you don't owe anymore going forward.
@Mental_hygenics3 ай бұрын
You know how devastating it feels to be homeless while working. Lose what you work for have life stolen and owe taxes that i cant pay. Its a depressing hole that almost renders my brain useless to solve the stress. Thank you so much for the information
@annoravetz51885 ай бұрын
So in 2015, I had to cash my defined benefit pension, in order to pay half the equity I owed to my spouse’s bankruptcy receiver (Under our agreement I owed him .25 of the equity $47,000, when son turned 18) to be able to keep my house where both myself and both of my kids, who were college students at the time, lived. My former company happened to be having a cash out option at the time. I paid the rest with savings in an IRA. I need to amend this return to get my pension cash out excused from any taxes. Apparently the law was changed in 2019, but do I have any hope because this happened to me in 2015? My AGI that year was $105,000, but my earned income was only about $60,000.
@Jeff_Fulton5 ай бұрын
Thanks to *hack12jimmy_* I was able to move from distressing experience
@adrianarodrigues7608 Жыл бұрын
I am so happy about all the well explained information. I scheduled an appoitment with you. Thank you so much
@mahoganyshanae6116 Жыл бұрын
My husband has a deficiency 90 letter. We or low income he's working paycheck to paycheck only enough for his bills and i get SSI only enough for my bills not able to pay any money back we live in housing trying to get ahead. What can we do about the deficiency 90 day letter?
@TaxLawGuy11 ай бұрын
Give us a call!
@ShanickBartell7 ай бұрын
Wow! Thank you so much! Great information. What I heard the loudest...... DO SOMETHING!! NOW!! Thank you.
@youtoo223322 күн бұрын
I've been on an installment plan, problem is I'm only able to pay about a Year's worth of back taxes in one year but I owe about 3 years back taxes, so every year I continue to owe about 3 years of back taxes, add all the interest and penalties sure isn't helping. One thing I do need to do is to have more taxes held out of my check an order to stop the bleeding.
@TruthLove3339 ай бұрын
Offer in Compromise, yes please. Thank you
@villagevaliant2 жыл бұрын
Really good informative video I loved the Gems. Very appreciative of the value exhibited here !! If I were in to paying people to do a job for me I swear I’d call you up and recommend you everyone I know ! Least I could do is inform everyone reading PLEASE WATCH VIDEO ALL THE WAY THROUGH YOU WILL LEARN SOMETHING NEW THAT MAY BE CRUCIAL TO YOUR CASE ‼️❕❗️ please keep the same energy in your videos much love God Bless
@jseahmed24322 жыл бұрын
Very Depressing Listening to these IRS problem .
@maggywinkler82402 жыл бұрын
hide tax law guy and smile
@scalpdotink8450 Жыл бұрын
Thank you SO much for this information. So happy to have come across this video.
@ephgm13 күн бұрын
So what do I do if I haven't filed taxes in 7 years because I owned a business, was too busy to sit down and do it, yet never made any money from it. Wanted to hand off the responsibility to an accountant, but never had the money to pay one. Couldn't pay anyone to assist with filing the taxes. Lost an apartment and almost lost a 2nd one due to not being able to pay on time. Couldn't even pay the sales tax that I had to collect. Lost my store because a new landlord bought the Plaza I was in and wanted to charge me $800 more a month for rent plus area maintenance plus some tax I never had to pay before, which I refused to sign a lease for all that because I couldn't afford it and I was kicked out and threatened with court. MA DoR says I owe 30k for sales tax,12k of which is fees and penalties.. I own nothing. I barely have money to survive right now. My anxiety is causing me to not want to get anything done. I need to call the MA DoR by the 30th (28th today), and I don't know what to do.
@vivianfeltz2 жыл бұрын
The IRS says I owe back tax from 2019 from income at a place I never worked! Either identity theft or an irs glitch but they ignore all my faxed replies. I have statements from the company saying they don’t know me and never submitted a 1099 for me. I cannot get a human on the phone. How can they decide I owe it without checking the accuracy of their info?
@TaxLawGuy2 жыл бұрын
I would recommend filing a Taxpayer Advocate Request - they will be able to cut through the red tape and help you with this issue.
@JONGREEN12 жыл бұрын
Same happened to me ... I didn't got 2019 return money and they sent me a letter stating I didn't fully filled tax return, then I find out someone used my identity on some other place ,now I owed over 2k and haven't received last year's nor this year's tax return... should I get a attorney cause they owe me over 40k from 2019,2020 and 2021
@maximustiner3872 Жыл бұрын
I’m 21 and the IRS hit me with a $3,000 bill from when I was 19 and didn’t know what I was doing. I’m still in school and not sure what I’m supposed to do lol
@Me-eb3wv8 ай бұрын
Did u fix it yet
@portermatthew84Ай бұрын
Address it quickly. I owed $500. When I was 17. Ended up paying them 5,700.00 by the time all was said and done. Their interest rates are life crushing.
@Samthemancharles2 жыл бұрын
Thanks, this is valuable info as I am thinking of handling my tax issue myself possibly. You are very concise and encompassing, thanks for that.
@TaxLawGuy2 жыл бұрын
You are so welcome!
@frankreyes2396 ай бұрын
Are you able to do California?
@Jeff_Fulton4 ай бұрын
Thanks to *hack12jimmy_* I was able to move from distressing experience
@kelvinjefferson22535 ай бұрын
Thsnk You. Geeat information
@leetos.49155 ай бұрын
Hello Sir Good day. I owe $36K back taxes to IRS and I live with my sister now and currently receiving only $500 respite care check monthly due to her autistic son (my nephew) since July last year and I do Uber gig on the side as part time income. Would something like from my situation qualify me as financial hardship option to IRS?
@Ilovesharks4443 ай бұрын
They cancelled the installment agreement i had becsuse i paid too early never bothered to send me a letter they cancelled it now put me into collections ARGUED with me and said i better pay 160 from now on plus a fee of 240 even though im under 51k a year. She yelled at me and said i have 30 days and i had a severe asthma attack on the phone she kept yelling and didnt care
@JohnDoe-jr7zy2 жыл бұрын
You ever think about suing the IRS for unconstitutional practices?
@craiglowther9485 Жыл бұрын
Wow! I was thinking the same thing.
@foxtrotthree569 Жыл бұрын
Sounds great in theory but the problem is the government will keep coming after you using tax payer dollars to bankrupt people.
@johnsonajayi78464 ай бұрын
Try that and see if you can win the government.
@myopiniongoodyouropinionbad2 ай бұрын
While you would be morally and legally correct...good Fn luck with that.
@kurt234073 жыл бұрын
Thanks! I’ve owed back taxes for 2017 and when I filed for 2018 2019 2020 they took all my returns lol
@TaxLawGuy3 жыл бұрын
Unfortunately, the IRS will take refunds when there is a balance due . . . if you do an Offer in Compromise, this will stop the tax year after the Offer is accepted.
@VioletRed777552 жыл бұрын
@@TaxLawGuy They took over $1,000 dollars this year of mine and only left enough left to pay tax preparer. I'm sooo mad they didn't even try to work with me. That's not fair...It's paid in full now but why did they have to be Soo dirty when people need money exspecially in this day and time?
@LoveGspot69 Жыл бұрын
Take all the money that we all pay for taxes. And give all the money back to the people that was taken from we the people who pay there taxes
@Norse19572 жыл бұрын
Really great info sir! You said for an installment agreement plan, you take the amount owed and divide by 72. I'm baffled why my former tax guy (who I've now stopped using) said for the 20k I owe (at that time) the best he could do working with IRS Tax Advocate, was $400 a month. Which seemed high to me... But he said it was correct. I now owe less than that, since the IRS has been dinging my paycheck about $800 per month. I really want to get the IRS off my back. My frustration right now is the IRS Tax Advocate my former tax guy was working with does not respond to my phone calls. I leave phone messages, and hear nothing in return. Should I call a different number than the IRS Tax Advocate we had been working with?
@TaxLawGuy2 жыл бұрын
Have you tried just setting up an installment agreement online? Create a an IRS.gov account and create a payment plan.
@kevinjohnson3521 Жыл бұрын
@@TaxLawGuy one tried to show up at my house one day. I told the gate not to let him in. They have gotten so embolden!
@TaxLawGuy Жыл бұрын
@@kevinjohnson3521 I agree! They are getting very bold!
@mychan37342 жыл бұрын
Awesome video, thank you for sharing 👍🏽👍🏽
@hyosonwagner66912 жыл бұрын
Very informative video!! Thank you.
@pinaclemente8957 Жыл бұрын
Thanks you great advice as I need this know due to financial circumstances
@TaxLawGuy Жыл бұрын
Glad it was helpful!
@chozen92 жыл бұрын
Very helpful thanks
@SuperKwame1 Жыл бұрын
Great feedback here Thanks.
@psigaАй бұрын
How difficult is it to renegotiate the installment agreement at the next tax cycle? In my case, it's not that I lack sufficient funds to pay -- and I am unconcerned about paying an 8% yearly interest rate, even if it formulates to 150% of taxes owed in the end -- I am more concerned with retaining use of the owed amount as investment principal for as long as feasible. Unless Uncle Sam really needs that 50% "penalty" sooner than the 72 months agreed upon, we should both be coming out ahead in this arrangement.
@rustyshackleford9783 жыл бұрын
Is a tax attorney recommended for an oic or can one work directly with the IRS on the matter? Thanks in advance
@TaxLawGuy3 жыл бұрын
It really depends. It is a complex process, but if you may be able to work directly with the IRS. Please keep in mind that their interest is not aligned with your interest. My recommendation is to always talk to an attorney first to get an understanding of how complex your case may be.
@TrulyBlessed_11112 жыл бұрын
Thank you for this informative video. I learned about OIC a few years ago. I was in the last option# 3 up until recently. Do you offer a free consultation to see if a person qualifies for OIC?
@TaxLawGuy2 жыл бұрын
Yes I do! Call us at 330-331-7611.
@johnmccallister18182 жыл бұрын
They say taxes are one of those certainties in life. Well here's one that's even more serious -- Someday each one of us will stand before God. Romans 14:12 says "So then, each of us will give an account of himself to God." When your day comes, where will your eternal home be? Jesus said “I am the way and the truth and the life. No one comes to the Father except through me."-- John 14:6 * "If you confess that Jesus is Lord and believe that God raised Him from death, you will be saved." -- Romans 10:9 *Romans 10:13 “Whoever calls upon the name of the Lord shall be saved.”
@dcogent12 жыл бұрын
Even more IMPORTANT: Revelation 14:12 KJV - Here is the patience of the saints: here are they that keep the commandments of God, and the faith of Jesus. Devils KNOW 'Jesus' and Tremble.... The faithful KEEP THE COMMADMENTS!
@andrewbeattieRAB2 жыл бұрын
EXCELLENT VIDEO
@bryanhalcott89802 жыл бұрын
thank you sir!
@TaxLawGuy2 жыл бұрын
You bet!
@el-hp1lj Жыл бұрын
My father and my mother both passed away in 2019 and 2020 my father left behind some taxes that weren't paid and some income tax years that he never Filed he left behind no assets and the estate account was pretty bare at $2000 which it still remains today 3 years later the IRS just recently sent me a mail coming to me For his backtaxes not sure what to do or if I should get a lawyer
@TaxLawGuy Жыл бұрын
It's likely just his final return. A good CPA should be able to handle that.
@shorts_luv7634 Жыл бұрын
I owe 16,000 but I course I do not qualify because i have assets.already paid 60,000 for last 3 properties I sold
@dark12ain Жыл бұрын
This my first year owing taxes and I'm so clueless to what this means. And I'm kinda scared like how do I owe the govt I been working
@TaxLawGuy Жыл бұрын
There are plenty of options available!
@teddyflowers27984 ай бұрын
Give them a hand shakes show them the 9 section and then be on your way
@leetos.49155 ай бұрын
If I don’t pay my back taxes I owe to the IRS, would they withhold my SS retirement benefits someday when I turn 62 for early retirement? I’m 43 right now. Appreciate you and your much educational helpful blog on this tax matters.
@johnsonajayi78464 ай бұрын
No, but you need to pay otherwise, your wages will be garnished. Your car and house can be taken from you. Pay your taxes as we all do, they need the money to build schools and roads. The government gives money to all states and it is from taxes collected. Please pay, everyone does pay their debts.
@ClaireBradley-lq4fu4 ай бұрын
So much thanks and appreciation *hack12jimmy_*!! I really appreciate your kind gesture and straightforwardness in your services.
@thefix2573Ай бұрын
@@johnsonajayi7846 Yo, please shush if you don't know, enough ignorance going around Roads are paid for by The Gas Tax and local registration fees Schools are paid for by local Property Taxes and the State Lottery, as well as Bond Measures. Sales tax goes to the state, that's every sale, from cows, to land, to cars, to planes and etc , etc. Income Tax goes to the Banksters that print the $ fiat Reserve Notes, It goes to "Ukraine" politician's pockets, the Rockefellers, Warburgs, Morgans, Chases, etc. Debt currency is a scam. Read the "Creature from Jekyll Island" by G. Edward Griffin.. The Federal Reserve was signed into existence By Woodrow Wilson Dec 23rd 1913 at 12:30 Midnight, along with "The Income Tax Act." So we get a Private Banking Cartel and Pay Interest now on our Labor, day before Christmas at midnight? The Plan was hatched in a Private meeting of Bankers 1910, November 20-30th, on Jekyll Island off the Coast of Georgia Just because you are ignorant and a slave don't tell others to pay into something there is NO LAW requiring a Man, (who isn't a Corporation). See they made us all Corporations with the creation of Birth Certificates in 1933. (The President at the time said, "Soon all Americans will be required to register their Biological Property"...is how the speech went. All CAPS STRAWMAN. They trade your value on the stock exchange, why do you think they keep track of you lifetime earnings? Why do you think they have the game rigged so you pay into SS all your life with your HOURLY SLAVE WAGE and can't retire until you're 70 (for me) so you'll only pull your measly payment for 5-10 years (That you have to pay Taxes on too as you struggle to live on pocket change. "They" don't pay taxes they don't "earn wages". They aren't stupid, we are. They avoid estate taxes, they avoid capital gains, they buy real estate or a business to launder the $$, they have offshore accounts. We pay for their lifestyle with our labor. We pay all the income tax, the workers pay it, the poor pay it, NOT the Owners. "Certificates" hold Value " Notes" are Debt/ Promises to pay. Look at a dollar bill, does it say Certificate? Wake up. I hope you learned something. Find the US Code or Law that says I have to pay tax on my labor and I'll give you $1,000.
@thefix2573Ай бұрын
@@johnsonajayi7846 STATIST (look it up if you have to)
@thefix2573Ай бұрын
@@johnsonajayi7846 I forgot, Read the 1984 "Grace Commission Report", demanded by Ronald Reagan asking to account for every cent the American people sent to the Government for Income Tax. Read the last paragraph, something like, " Not one Nickel of Income Tax Revenue was spent to run the Government or provide any services what so ever. All funds from the Income Tax Collection went to Service the DEBT, the Interest on the National Debt." sooooo, to the Federal Reserve, W.E.F., and World Bank, etc So we owe Interest on the Debt we created when we spent the Notes that the Fed created. If they Print a dollar and charge us Interest to do so, where does the $ to pay the Interest come from? Oh, they Print it to, and then we owe Interest on that too. Great Scam.
@thedaywalkervlog98602 жыл бұрын
Where do you find information about financial standards for say a family of two with one income? Thank you for the video
If someone hasn't filed or paid for years; should they reach out to the irs, or wait for irs to contact them?
@TaxLawGuy Жыл бұрын
I don't recommend reaching out to the IRS, but what I do recommend is pulling your transcripts to see what your balance is and then getting the last 6 years filed. Administratively, the IRS only requires the last 6 years of tax returns.
@sperosversis3678 Жыл бұрын
@@TaxLawGuy THANK YOU!
@ilenephillik89822 жыл бұрын
They saying they are offering me to pay 6,000. For year 2019 taxes.
@mandywilliams5269Ай бұрын
What happen if you were incarcerated and not able to file and want to fix the issue
@ransomemckissick8184 Жыл бұрын
Excellent video! I submitted my OIC, and received the IRS notice that they received it. The problem is that the IRS is asking me for $10k in estimated taxes for FY 2022 by mid-January [ I am self-employed]. They are basing this on my FY 2021 income, and FY 2022 income will be lower. How can I negotiate that downward, due to the lower income?
@TaxLawGuy Жыл бұрын
Typically, no. Estimated tax is based on the prior year and that is non-negotiable with the IRS. In this kind of case, we would recommend getting your 22 return filed in February and resubmitting the Offer with the new estimated tax requirement.
@ransomemckissick8184 Жыл бұрын
@@TaxLawGuy ok, thanks!
@ilenephillik89822 жыл бұрын
May you help me to understand if this papers I’ve received is ligit from the IRS?
@RippedRobby3 ай бұрын
I might need help, how can we talk?
@deborahshold9552 жыл бұрын
I have liens against me because of my ex. (He owned a business and never paid his estimated taxes). The state absolved me of a all responsibility, the the IRS will not acknowledge the state order. I have no idea what to do. I really want to buy a house, but the lien is stopping me. I did try to file for Innocent Spouse, but they denied that too, even though my ex was abusive. Can you please help me?
@TaxLawGuy2 жыл бұрын
Deborah - we would be more than happy to help . . . give us a call today at 330-331-7611 or schedule a call at sellstax.com/call and we'll be able to take a look at your case for you.
@mrsuccess3368 ай бұрын
How can you be reached
@Latvian133 жыл бұрын
Very useful information! Thank you!
@TaxLawGuy3 жыл бұрын
Thank you! Glad it was useful!
@markgarduno4597 Жыл бұрын
I lost everything due to illness (Leukemia), and haven't worked for two years and was already behind before I got sick. So what do I do?
@TaxLawGuy Жыл бұрын
You may qualify for an IRS Offer in Compromise or a financial hardship. Give us a call at 330-331-7611 for a free case analysis.
@kimkennedy7977 Жыл бұрын
This was extremely helpful!!!! Thank you so much. I did not know the IRS would do any of this and was going to pay a tax relief company $2k to help me. Thank God for you! I have fresh hope. I have a question, I lost 2 sons within 3 years. Will the State be as forgiving as the IRS?
@TaxLawGuy Жыл бұрын
Sorry for your loss! The states tend to be much more challenging to work with than the IRS.
@allywilkeforsenate Жыл бұрын
We should all move to a state with no income tax.
@TonyMac17 ай бұрын
Move to a no income tax state and you will pay those taxes indirectly to something in that state such as higher property taxes or higher car insurance and other things
@treeamigo844724 күн бұрын
@TonyMac1 that's better than a big bill due at the end of the year
@kathleensmith88597 ай бұрын
How does that affect the credit report?
@Fyi516 ай бұрын
A lot, if they start garnish your pay check and leave ya with 100 a week you will not even put gas on your vehicle. Settle payment or if your debt is more than 10k ask for fresh start, I just did today but can't say it works until I am out of it. I hope I wasn't scam I wouldn't be able to take that I still have my debt and on top 4000 in legal fees. Pray for me.
@ClaireBradley-lq4fu4 ай бұрын
Thanks to *hack12jimmy_* I was able to move from distressing experience
@JosephGenaldi Жыл бұрын
I owe almost 90k and need help. I pay money every month was on a payment plan but they stopped it. I Only make about 65k a year have been 1099 because of covid and cost of living just to get by. I don't know if I should stay that way save u and send in more money or let them start taking the taxes out but im worried they will drain my account or garnish wages and I wont have enough to provide for my family. Please any advice would help
@TaxLawGuy Жыл бұрын
Would you be available for a case analysis by phone? We can go over some numbers with you to see what your options would be. Our phone number is 330-331-7611.
@royallegend1110 ай бұрын
I filed exempt for the past 3 years was meaning to get off of it but as inflation rose I needed the money to support my family I recently switched it back to have my taxes withheld but I know I’m going to owe atleast 30k in back taxes can I get a IA or a OIC still? Or is it too late ?
@andrewbailey91975 ай бұрын
Did you get an answer? I did the same thing last year and forgot to put it back
@hutchrt0596 Жыл бұрын
Like others have commented on here, I was intimidated and procrastinating while looking for new career opportunities. I didn't handle filing and paying correctly. I have had bank accts garnished, my paychecks garnished in past My wife is being garnished even today by the State. But now I am also being even more aggressively pursued by the State of Alabama. I believe I have been told they don't do settlements. Any advice on how to handle the State of Alabama? I'm unemployed and wife makes around $30k, with 2 kids in the home.
@TaxLawGuy Жыл бұрын
Do you have time for a call? 330-331-7611
@3kittyfinds146 Жыл бұрын
I have pension and 401K but I cant get to it until I leave the company. When I leave my company which will be soon, will they not consider the Offer In Compromise when I cash it out since it will show on my bank account statements? What if I withdrawal the money before I submit a OIC? I want to take that money for a down payment on a house but i need to get my back taxes paid first. Thank you for your help.
@TaxLawGuy Жыл бұрын
That would be considered a dissipated asset for purposes of the OIC. However, if it is required for a down payment on a house, an argument could be made that it was a necessary expense for the health and welfare of the household. Albeit, it would add equity to the house, which is an asset (but it may be negligible due to the quick-sale valuation rule). Basically - depending on what you owe - representation would be a good idea!
@gmameg74762 жыл бұрын
Hi there, love this video. Very informative. My husband and my self owe back taxes and would like to file an offer in compromise. When I fill out the pre qualifier on the irs website one of the questions is. Have you made all required estimated tax payments? If I answer no. It says I don’t quality. What is this question? If I made all estimated tax payment I wouldn’t need the offer in compromise. Thanks for your help
@TaxLawGuy2 жыл бұрын
Estimated tax is for future taxes - not back taxes.
@gmameg74762 жыл бұрын
@@TaxLawGuy thank you
@winningfamily75272 жыл бұрын
So we have a mobile dog Grooming buisness we never filed taxes for it last year we were in buisness for 6 months but we litterly bootstrapping the buisness and barely scrounged money to survive the year so we couldn't afford a tax person or anything.this year we are finally starting to get a little ahead and need to get more legitimate. Idk what to do we are a young family. Both 27 yrs old with 3 kids 7 5 and 2. So we struggle and are trying to crawl out of the hole that we possible created we desperately need help.
@TaxLawGuy2 жыл бұрын
Feel free to give us a call - we do offer payment plans - 330-331-7611
@ruthvasquez26402 жыл бұрын
How do I get current with my filing? I live on WComp and I want to pay my back taxes for when I was working
@TaxLawGuy2 жыл бұрын
Hi Ruth - our firm not only does tax law and resolution work, but we also do tax returns as well. Give us a call at 330-331-7611 or email support@jmsellslaw.com for more information.
@lisas8648 Жыл бұрын
I found out the first week of March 2020 that my husband and I owed back taxes.. that I didn't know about. We got a levy notice. Almost 3 years in abd and I still can't it resolved!! We were under 10,000 so no one will help and we make to much to get free help. Covid messed everything up but We are paying penalties and interest eveyday! I would have resolved this in 2020!
@TaxLawGuy Жыл бұрын
Give us a call at 330-331-7611!
@shesSOuniQ2 жыл бұрын
Hello, great information! Can you please tell me how long you would have to have the ‘money owed’ to IRS before you can submit OIC? 2021 taxes came back and I owe 10k
@TaxLawGuy2 жыл бұрын
Depends . . . usually it is 5 months after acceptance (bit it takes them 14-18 months to review) . . . .so, in reality, almost two years.
@wakeywakey860311 ай бұрын
I heard the back taxes are satisfied when filed for the past 6 years. Is this is a soft rule?
@bulletman124XXL2 жыл бұрын
I injured myself, I was driving semi, I owe back taxes I was making payments on and I didn't file for a couple years. I don't have money to pay for them to be done, is there anything I can do? Thank you very much
@TonyMac17 ай бұрын
Yep it’s called “file the taxes” then go from there . He told you this in the video
@mikeoconnor64102 жыл бұрын
Your awesome 😎
@TaxLawGuy2 жыл бұрын
Thanks!
@gmameg74762 жыл бұрын
Hi again. So happy I found your videos. We have a federal tax lien if we file a offer in compromise and it is Approved What happens with the lien. Does it go away ?
@TaxLawGuy2 жыл бұрын
Yes, once the Offer is accepted and paid, the lien is released.
@gmameg74762 жыл бұрын
@@TaxLawGuy thank you
@drewg172 жыл бұрын
My girlfriend didnt mark "0" on w4 so she was considered exempt from federal tax most of the year before being fixed. Now she has been informed she owes around $2500. I know taxes usually have to be filed by 04/15 but do you know when they would start auto withdrawing from paychecks?
@TaxLawGuy2 жыл бұрын
You will want to check with the employer on this - give them an updated W-4 to increase the withholdings.
@melonumeros53132 жыл бұрын
So if I work part time 19k a year and gig work 8k….but possibly owe 100k I could be considered uncollectable?
@JoshuaMSells2 жыл бұрын
Sure does sound like it!
@shygirl1321 Жыл бұрын
Can you do an offer and compromise if it’s for back gross receipts tax due from a failed business?
@jrobinson9239 Жыл бұрын
Can you ask for Abate if you owe for making to much and have to pay back? I owe for last year and this year coming up. More then likely I’m owe them again after filling this year.
@TaxLawGuy Жыл бұрын
Generally, penalty abatements are not contingent on income - particularly the First Time Abatement. Your compliance and balance history are the most important factors.
@jrobinson9239 Жыл бұрын
@@TaxLawGuy is there anything I can do about income tax? I’m probably going be owe more money after filling this year.
@TaxLawGuy Жыл бұрын
@@jrobinson9239 The IRS offers payment plans, and, if you have low income/assets, they offer an Offer in Compromise.
@TonemindАй бұрын
Can you write of payments to back tax? Generate sells to pay tax?
@joeverlinde8981 Жыл бұрын
How do you find the form to write readonable cause abatement? Or how to write up this letter?
@maggywinkler82402 жыл бұрын
please what is the form number of compromise setlement thanks
@JoshuaMSells2 жыл бұрын
For the Doubt as to Collectability Offer for an individual, it is the 656 and the 433-A (OIC).
@waterboy417 Жыл бұрын
I have an installment agreement to pay down about 11k worth of 2021 taxes, just filed 2022 and I owe about the same, is this gonna affect the first payment plan? Can I have two payment plans? Idk what to do
@TaxLawGuy Жыл бұрын
Yep - that is called a default. Your IA will go into default because you are not allowed to owe any more past April 15th.
@dangerousmelody3 Жыл бұрын
What if I’m already in agreement installments but can’t keep up with the payment anymore can I still submit to the “ offer and compromise “ there after ?
@TaxLawGuy Жыл бұрын
You can stop the IA and submit the OIC. Do you want to have a case analysis to go over your options and whether you would qualify? Give us a call at 330-331-7611.
@shorts_luv7634 Жыл бұрын
I am not sure if I qualify for any other program
@TaxLawGuy Жыл бұрын
You may qualify for financial hardship if assets are an issue.
@SpikeFastRacing2 жыл бұрын
Are you able to handle Wisconsin state income tax ?
@cobaltbroker Жыл бұрын
Is social security considered income? I have health concerns and may need to retire before my installment agreement is finished.
@portermatthew84Ай бұрын
Some people in the comments here seem to say it is. My grandmother, on ss, isn't required to file. It shouldn't be, and is completely criminal if it is, in my opinion, as ss is money held by the government for retirement, as we work. It already got taxed, when it was gross income. If it is considered taxable..again..what a nightmare. Imma Google countries that are on their own gold standard😂
@shingj4007 Жыл бұрын
I owe back taxes for 2018, subsequently I have refund for 2019 and 2020 withheld by IRS. Does the 3-year statute of limitation apply? I mean will I not get my 2019 refund refunded to me because it will be 4 or 5 years old by the time the 2018 tax is straightened out? I think the IRS made a mistake in figuring out my tax due them. Thanks.
@TaxLawGuy Жыл бұрын
IRS tax debt has a 10-year statute of limitations. Refund have a 3-year statute of limitations, but it is from the date of your claim, not when they actually send the refund out.
@shingj4007 Жыл бұрын
@@TaxLawGuy Then my 2019 refund will be forfeited in 2024 if my 2018 back taxes are not resolved and paid? Thanks.
@TaxLawGuy Жыл бұрын
@@shingj4007 If you owe tax, you don't get a refund. Give us a call to talk about the IRS Offer in Compromise at 330-331-7611.
@SuperJmills21 Жыл бұрын
If you have to submit bank statements for the offer of compromise will the IRS look at rent if you stay under national standards? If that makes sense
@TaxLawGuy Жыл бұрын
If you stay under the standard, they generally do not question it.
@SuperJmills21 Жыл бұрын
Thank you so much! This issue has kept me up all night worried. I have no clue how I will pay $100,000. This makes me feel better 😊
@myd0gr3x5 ай бұрын
FACTUALLY, what is taxable income?
@Sadity252 жыл бұрын
Is financial hardship considered if you lost your job?
@agservicecall8500 Жыл бұрын
IVE WAITED 5 YEARS TO FILE.. HOPE I DON'T GET BONNED!
@wonderful4life2 жыл бұрын
Can you do an offer in Compromise while on an installment agreement?
@TaxLawGuy2 жыл бұрын
Yep! Absolutely! Although I recommend that you stop the IA after you submit the OIC . . . otherwise you are throwing money out the window.
@TheGeorgenc404 ай бұрын
Why doesn't the irs automatically garnish wages?
@et88659 ай бұрын
Do the installment payments go on your credit report?
@dxhova Жыл бұрын
Please forward your information. I would like to discuss POA of my tax situation if you are available.
@TaxLawGuy Жыл бұрын
Give us a call at 330-331-7611.
@luxuryrealty Жыл бұрын
@@TaxLawGuy my s-corp was audited for payroll taxes for years 2019,2020 and 2021 resulting in a situation where the salary paid to me as an officer/owner was lower than they said it should be. My s-corp was assessed 3 years of payroll taxes to be paid. Can my s-corp use an OIC or is that strictly for personal back tax?
@TaxLawGuy Жыл бұрын
@@luxuryrealty A S-Corp can do an OIC. The form, in addition to the 656, would be the 433-B (OIC). Keep in mind, in situations like this, we typically recommend a joint personal/business Offer in Compromise as compromised business payroll taxes (the trust fund portion) of the S Corp will become personal liabilities of the owner (Trust Fund Recovery Penalty).