Anonymous
07/18/2012 20:21
Subject: Re:Has anyone ever negotiated a deal with the IRS?
I don't have any advice, I just wanted to offer you some sympathy. I'm sorry you're in this position.
Anonymous
07/18/2012 17:47
Subject: Re:Has anyone ever negotiated a deal with the IRS?
OK, I'm nosy, but what did he do that resulted in owing $100K? This blows my mind, but my salary is far less than yours -- I make @80K a year.
Anonymous
07/18/2012 17:23
Subject: Has anyone ever negotiated a deal with the IRS?
OP, BTDT and I found an attorney to be helpful. He did cost me 4K but got over 10K penalty waived, he took away the stress and I did pay them over 3 years on a plan. Now, they will put a Lien on your assets if your debt exceeds a certain amount, you may want to pay down to the level to avoid this,
Call a legit, capable attorney. I used Frank Rooney in Arlington, he's a CPA, JD that was an atty for IRS in prior life. I owe him my sanity. Good luck
Call a legit, capable attorney. I used Frank Rooney in Arlington, he's a CPA, JD that was an atty for IRS in prior life. I owe him my sanity. Good luck
Anonymous
07/18/2012 17:16
Subject: Has anyone ever negotiated a deal with the IRS?
Anonymous wrote:DH made stupid stupid decisions -- apparently for years -- and took a seriously bad risk just months before the 2008 recession.
Because of a family death that blindsided me, I was stupidly ignoring everything and not asking questions. Now I am told that we are deeply in debt to everyone including $100K to the IRS. We're selling everything but still won't come close to paying it off. I never had a penny in debt before we married, and I cannot believe the situation I find myself in.
Aside from divorcing DH which is an option we can apparently no longer afford, is there anything I can do to negotiate a settlement? You see those ads on TV, but my husband says that our income (between $200K and $300K) is too high.
Please no lectures. I know that I should have had a handle on family finances regardless of what DH was telling me. I can't believe that his judgement could be so poor. I need advice re the big IRS bill. (I've already done the first step, which is that I'm now in charge of the money. DH gets an allowance from our combined salaries).
1) All of those ads on TV are scams. Ignore them.
Make an appointment with an Enrolled Agent and have a conversation about your options. Google the National Association of Enrolled Agents.
Anonymous
07/18/2012 17:13
Subject: Re:Has anyone ever negotiated a deal with the IRS?
Honestly, although you never expected this to happen to you, they have cases like this every day. Just contact the case worker who audited you and tell them you need to set up a payment plan. They'll schedule you for a payment plan. Pay it off as aggressively as you can afford to do, to avoid additional penalties and/or interest.
The IRS really likes to work on payment plans and such because there are many, many people who avoid trying to pay and dodge and hide. Someone who actively works to pay off the debt without them having to dog your heels for many years, is actually welcome to them.
The IRS really likes to work on payment plans and such because there are many, many people who avoid trying to pay and dodge and hide. Someone who actively works to pay off the debt without them having to dog your heels for many years, is actually welcome to them.
Anonymous
07/18/2012 16:20
Subject: Re:Has anyone ever negotiated a deal with the IRS?
My sister works for the IRS, in their Taxpayer Service division. They are EAGER to talk to taxpayers and help negotiate a reasonable payment plan. You won't get out of paying back taxes due, but they will help you set up a plan that doesn't require selling everything you own. Please, call them.
Ask about the recent decision that allows innocent spouses to avoid penalties for decisions made by their idiot DH. That may reduce what you owe.
Ask about the recent decision that allows innocent spouses to avoid penalties for decisions made by their idiot DH. That may reduce what you owe.
Anonymous
07/18/2012 16:18
Subject: Has anyone ever negotiated a deal with the IRS?
OP. I owed over 100K to the IRS and their idea of a settlement was for me to pay them back $1500 per month. It took 7 years with interest and penalties but I finally did it. I feel rich now.
Anonymous
07/18/2012 16:07
Subject: Re:Has anyone ever negotiated a deal with the IRS?
My sister's husband was equally messed up and owed 100K. However, the household income at this time was about 33,000 for a family of 5. They had to pay 1,500 and it was behind them. It was TONS of paperwork and took alot of time to do. From her research, it would be very tough to to at your income level. A good friend tried to do that for 60K owed and she maid around 150K and they said no.
Anonymous
07/18/2012 15:19
Subject: Has anyone ever negotiated a deal with the IRS?
Anonymous wrote:We owe a smaller sum to the IRS and it was very easy to set up a monthly payment plan. Just call the number on the notice they sent you.
Agree with this. We just finished paying off some back taxes. Just to note -- the IRS's computers apparently date to the 1980s and aren't very, what's the word -- integrated? useful? So if your tax returns in the past have had DH's name and SSN listed first, keep doing it that way. Don't put your name and SSN first just because your in charge of the money now. It will totally confuse the system.
Anonymous
07/18/2012 14:37
Subject: Has anyone ever negotiated a deal with the IRS?
We owe a smaller sum to the IRS and it was very easy to set up a monthly payment plan. Just call the number on the notice they sent you.
Anonymous
07/18/2012 14:35
Subject: Re:Has anyone ever negotiated a deal with the IRS?
I agree with the PPs.
To add - you should immediately take control of all household finances. Cut up his credit cards (all but one with a low limit). Get the help of a financial planner if you don't know the basics or its gotten too complicated for you to handle.
Good luck.
To add - you should immediately take control of all household finances. Cut up his credit cards (all but one with a low limit). Get the help of a financial planner if you don't know the basics or its gotten too complicated for you to handle.
Good luck.
Anonymous
07/18/2012 14:27
Subject: Has anyone ever negotiated a deal with the IRS?
I had a much much smaller amount owed with back penalites but I find the IRS to be surprisingly helpful. Do the Offer and compromise but usually means one lump payment. eg, they know you will never be able to pay back 100k but if you can make a lump sum payment of 50k and be done with it that may take that. DO NOT go through a third party (as seen on TV). the IRS has 1000s of employees whose job it is is to deal with these issues. As for your husband. I feel your pain. I dated a guy for 4 years who owed about 40k to the IRS and I finally dumped him because he was such a financial fuck up.
Anonymous
07/18/2012 14:23
Subject: Has anyone ever negotiated a deal with the IRS?
14:23 again. Just wanted to say good luck.
Anonymous
07/18/2012 14:23
Subject: Has anyone ever negotiated a deal with the IRS?
If you legitimately owe the debt and have income to support a payback, it is usually difficult to get the IRS to settle.
I would give them a call and ask them about the process for a Offer of Compromise.
I would give them a call and ask them about the process for a Offer of Compromise.
Anonymous
07/18/2012 14:15
Subject: Has anyone ever negotiated a deal with the IRS?
DH made stupid stupid decisions -- apparently for years -- and took a seriously bad risk just months before the 2008 recession.
Because of a family death that blindsided me, I was stupidly ignoring everything and not asking questions. Now I am told that we are deeply in debt to everyone including $100K to the IRS. We're selling everything but still won't come close to paying it off. I never had a penny in debt before we married, and I cannot believe the situation I find myself in.
Aside from divorcing DH which is an option we can apparently no longer afford, is there anything I can do to negotiate a settlement? You see those ads on TV, but my husband says that our income (between $200K and $300K) is too high.
Please no lectures. I know that I should have had a handle on family finances regardless of what DH was telling me. I can't believe that his judgement could be so poor. I need advice re the big IRS bill. (I've already done the first step, which is that I'm now in charge of the money. DH gets an allowance from our combined salaries).
Because of a family death that blindsided me, I was stupidly ignoring everything and not asking questions. Now I am told that we are deeply in debt to everyone including $100K to the IRS. We're selling everything but still won't come close to paying it off. I never had a penny in debt before we married, and I cannot believe the situation I find myself in.
Aside from divorcing DH which is an option we can apparently no longer afford, is there anything I can do to negotiate a settlement? You see those ads on TV, but my husband says that our income (between $200K and $300K) is too high.
Please no lectures. I know that I should have had a handle on family finances regardless of what DH was telling me. I can't believe that his judgement could be so poor. I need advice re the big IRS bill. (I've already done the first step, which is that I'm now in charge of the money. DH gets an allowance from our combined salaries).