Tax Debt Relief EXPLAINED: How to SETTLE With the IRS [BY YOURSELF]

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  • เผยแพร่เมื่อ 5 ต.ค. 2024

ความคิดเห็น • 65

  • @MarkMcAlister-k5h
    @MarkMcAlister-k5h 8 หลายเดือนก่อน +9

    I sent Logan an email, and within 10 min had response followed by 30-min phone consultaion . . . . well worth the time and thank you for the guidence !! Cheers

  • @JDelights453
    @JDelights453 6 หลายเดือนก่อน +7

    I own my business- I owe over $6000 for the current return just filed. I’m barely making rent every month (mind you, I only pay $375 because my husband covers the rest). I cried and cried when that number came back. Thank you for this

  • @ethanmiles20
    @ethanmiles20 16 วันที่ผ่านมา

    Certainly going to be contacting you 🙏🏼 I filed and haven't been able to make my tax liability payments and with a heavy credit card I'm working on paying off, ive been looking into any type of settlement options as i make commission and do get large sums inconsistently in this market so i figured a smaller lump sum can be doable

  • @sutherlandpetty
    @sutherlandpetty 9 หลายเดือนก่อน +6

    We owe $6000 ….. how can we get rid of this quick ?

  • @QuandriaLaunese
    @QuandriaLaunese 3 หลายเดือนก่อน +2

    I setup a consultation and received a person name Alec. He was very RUDE. I ended up telling him “I will go somewhere else” and I hung up !!! I don’t understand why someone would be so confusing and rude to someone looking for help. I’m highly disappointed because I really thought this person in this video would be best to help me.

    • @LoganAllec
      @LoganAllec  3 หลายเดือนก่อน +2

      Hi Quandria. So sorry about this! He is new. Please call my assistant Hailey at 213-296-2838 today or next week and ask to speak with Mary (she is my most experienced and has been in this industry longer than I have) and let me know here how the call with Mary goes.

    • @QuandriaLaunese
      @QuandriaLaunese 3 หลายเดือนก่อน +2

      @@LoganAllec Ok thanks

  • @FollowLeonIsMyRealtor
    @FollowLeonIsMyRealtor 5 หลายเดือนก่อน +2

    I need your help.

  • @christiancancino1839
    @christiancancino1839 6 หลายเดือนก่อน +3

    Hello! I owe 12k from last year and am expecting to owe this year as well what should I do!😢

    • @Holistretch
      @Holistretch 5 หลายเดือนก่อน +2

      Same. Mine is $15K. I just filled out the form 656-B.

  • @marieotoole9920
    @marieotoole9920 3 หลายเดือนก่อน

    The form doesn't mention subtracting monthly expenses from my bank account amount. Would I do that myself before writing down the amount in the account? Ex. monthly expenses: 2000, bank account: 1800, so then I write 0 and then 0 - 1000 = 0?

  • @Chris-ul1iq
    @Chris-ul1iq 9 หลายเดือนก่อน +2

    How does child support factor into this?

    • @freewillchoice8052
      @freewillchoice8052 5 หลายเดือนก่อน

      It doesn’t, taxes and child support are two different things

  • @anthonygrant2902
    @anthonygrant2902 หลายเดือนก่อน

    I don't own anything and I been out of work for a year and going to have surgery tomorrow should I let the IRS know this or not.

  • @anthonygrant2902
    @anthonygrant2902 2 หลายเดือนก่อน

    Logan, if you have no assets or money to pay and are receiving SSI and VA benefits, how do you navigate dealings with the IRS.

  • @CW-xw9rd
    @CW-xw9rd ปีที่แล้ว +3

    Love you logan keep it up!

  • @mistyamburgey3023
    @mistyamburgey3023 2 หลายเดือนก่อน +1

    What if my home is owned by a revocable trust?

    • @LoganAllec
      @LoganAllec  2 หลายเดือนก่อน

      Hi Misty. I've shared my thoughts here: th-cam.com/video/ZTpih4Y6KuA/w-d-xo.html

  • @s_kan5885
    @s_kan5885 7 หลายเดือนก่อน +2

    I owe $7,500 from 2021 tax year. Just received notice Dec of 2023. I already filed my taxes with the irs and it showed they have already applied my return to the past due balance owed.
    Is there anything I can do to still receive a first time tax forgiveness?
    Thx

    • @ACigarReviews
      @ACigarReviews 7 หลายเดือนก่อน

      They sent me showing I owe like 5K for crypto but would not count losses. We see how these fuckers are paying for all the illegals and Ukraine now by screwing us over.

    • @JoeOliver-ln6qe
      @JoeOliver-ln6qe 5 หลายเดือนก่อน

      Thanks to *hack12jimmy_* I was able to move from distressing experience

  • @carlosguerrero332
    @carlosguerrero332 6 หลายเดือนก่อน +1

    About to start emt school 2 weeks (unemployed currently)
    Filed taxes, owe 79k (50fed,30state) as of today filing, due to pulling my 401 from last job, have 30k in the bank, dont know what to do, please help

    • @youtubertoo
      @youtubertoo 5 หลายเดือนก่อน

      Any luck?

  • @johnnykheng3470
    @johnnykheng3470 8 หลายเดือนก่อน +2

    Hi allec!I owe 48k!can I get it reduced?

    • @LoganAllec
      @LoganAllec  8 หลายเดือนก่อน

      Maybe! Depends on a lot of things! Book a free tax relief consultation here: choicetaxrelief.com/free-tax-relief-consultation/

  • @n3wy3ar83
    @n3wy3ar83 8 หลายเดือนก่อน +1

    What if I have a vehicle upside down in equity?

    • @LoganAllec
      @LoganAllec  8 หลายเดือนก่อน

      You would still include it on the 433, but there’s no includable equity for RCP purposes, i.e., the vehicle won’t count against you.

    • @n3wy3ar83
      @n3wy3ar83 8 หลายเดือนก่อน

      Good news . I started filing out the 433 last night after watching your videos. One thing I am wondering is when I give them my account numbers what am I consenting to? Do they have the right to comb through all my accounts as much as they want once I file a 433?

  • @DamianoOkaie
    @DamianoOkaie 9 หลายเดือนก่อน +1

    Logan, the Refunds for past filed taxed years were were not collected yet. Only documents, account transcripts received. What happened?
    Need your opinion s assistance

    • @LoganAllec
      @LoganAllec  9 หลายเดือนก่อน

      Hi. You're saying that you filed your returns but did not receive your refunds?

    • @DamianoOkaie
      @DamianoOkaie 9 หลายเดือนก่อน

      Allec, you are doing fantastic tutorial on tax.
      response to question on refund ,"YES!!"

  • @reynita0722
    @reynita0722 8 หลายเดือนก่อน +1

    What about when the Irs says you owe almost 200k but it was your ex husbands business and you have never made that kind of money in your life. Legit has me not able to get a normal job. And a lawyer wants 16k to fix it. I dont make that kind of money. So what am i supposed to let them throw me in jail while my ex husband has taken off to mexico with his new love. I hate that i helped him I just feel stuck in a corner and un able to live. I have nothing in the bank and i dont own any property or cars

    • @LoganAllec
      @LoganAllec  8 หลายเดือนก่อน

      In your situation, I'd probably go for equitable relief with the backup plan being a doubt as to collectibility offer in compromise. These are complicated cases. We could probably do it for something like $12,000 if you qualify for financing.

  • @-thecastletvshow-8206
    @-thecastletvshow-8206 4 หลายเดือนก่อน +1

    I need help

    • @LoganAllec
      @LoganAllec  4 หลายเดือนก่อน

      Give us a call at 866-8000-TAX

  • @Hiphopbaby_0177
    @Hiphopbaby_0177 8 หลายเดือนก่อน

    What if it's a person 10th yr of irs debt.. will you recommend filing your taxes on tha 10th year or 11th year?

  • @DamianoOkaie
    @DamianoOkaie 9 หลายเดือนก่อน

    Apologize for comments of the...

  • @itry2brational
    @itry2brational 10 หลายเดือนก่อน

    Our RCP is 100%. We've got the money in cash BUT the audit is not correct. The auditor claimed income as solely to my physician wife alone but not her partner or the practice. Her partner was a co-signer on the bank account used. Nearly 100% of this income was to be used on marketing expense for a new procedure and machine and it was. But the auditor, when making her adjustments, did not list those expenses to balance the income. We have all the bank trxs and proof but none of it appears to have been considered. Now we are in collections and losing faith in our accountant in their ability to handle the situation and after 3yrs of this are only NOW wanting more money for the situation they essentially caused.

    • @LoganAllec
      @LoganAllec  10 หลายเดือนก่อน +1

      When was the audit closed?

    • @itry2brational
      @itry2brational 10 หลายเดือนก่อน

      @@LoganAllec We are not sure it ever was. Is there a document which has a close date or which makes it clear it was closed? We have every document the IRS sent us. After the examination our accountant at the time said the exam was "unfair" and (allegedly) filed an appeal. It appears none of the updated information we provided was considered. We have our emails to our accountant asking about updates but were kept in limbo.

    • @LoganAllec
      @LoganAllec  10 หลายเดือนก่อน +1

      ​@@itry2brational The IRS sometimes uses different form numbers (sometimes arbitrarily), but here's a common sequence we see assuming the taxpayer takes no action (e.g., filing an appeal or petitioning the Tax Court to contest the IRS' determination):
      For correspondence audits (audits conducted via mail):
      - IRS sends Letter 525 (30-Day Letter) and Form 4549 showing the IRS' audit adjustments
      - If not responded to, IRS will then send the Statutory Notice of Deficiency (Letter 3219).
      - If not responded to, the IRS will then assess the additional taxes, penalties, and interest due to the audit, which would be reflected on the taxpayer's account transcript.
      - Once tax is assessed, IRS will typically send collection notices (e.g., CP14, CP501, CP503, CP504, LT11).
      For in-person audits:
      - IRS sends Letter 915 (30-Day Letter) and Form 4549 showing the IRS' audit adjustments
      - If not responded to, IRS will then send the Statutory Notice of Deficiency (Letter 531).
      - If not responded to, the IRS will then assess the additional taxes, penalties, and interest due to the audit, which would be reflected on the taxpayer's account transcript.
      - Once tax is assessed, IRS will typically send collection notices (e.g., CP14, CP501, CP503, CP504, LT11).

    • @itry2brational
      @itry2brational 10 หลายเดือนก่อน +1

      @@LoganAllec Thank you VERY much for your responses. According to these sequences, it would seem our accountant never filed for the appeal right after we got the assessment/adjustment despite this being our understanding the entire way through. However, in reviewing correspondence with the accountant my wife sent documentation directly to the auditing agent to contest/correct the results but nothing came of it. It really seems our accountant failed us and put us in this situation.

    • @LoganAllec
      @LoganAllec  10 หลายเดือนก่อน +1

      @@itry2brational You're welcome! Glad I could be helpful here. If your appeals period has closed, you may want to ask your accountant about audit reconsideration (which is a thing).
      Also, if you have just a few seconds to spare, I'd really appreciate it if you could leave me and my company a Google review at this link: g.page/r/CeURce_TaQjPEB0/review
      These reviews really help my business, and I really appreciate it if you're able to leave one!

  • @DamianoOkaie
    @DamianoOkaie 9 หลายเดือนก่อน

    Still not receive refund since efiled return late September 2023

    • @Iamsb2022
      @Iamsb2022 หลายเดือนก่อน

      I filed a late one in 2020 and didn’t get it until 2022

  • @baaghisingh198
    @baaghisingh198 9 หลายเดือนก่อน

    Hey Logan, a friend* of mine owes $10,351 in federal back taxes (2012-2018) how can you help

    • @LoganAllec
      @LoganAllec  9 หลายเดือนก่อน +3

      For that low of an amount of debt, your friend would have to be fairly broke to qualify for a hardship-based resolution such as an offer in compromise (settlement with the government for less than he owes). Obviously that could be the case if his financial situation is dire and not likely to improve. But more realistically for folks who owe around $10,000 what we do is look at penalty abatement (not guaranteed) and stretching out their payment plan with the IRS as long as possible. Also checking the CSEDs to see if any of the older years will fall off soon.

  • @noumans2495
    @noumans2495 4 หลายเดือนก่อน

    I do not own a home or vehicles. Do I qualify?

    • @noumans2495
      @noumans2495 4 หลายเดือนก่อน +1

      I owe 85k to the irs

    • @LoganAllec
      @LoganAllec  4 หลายเดือนก่อน +1

      Hi! Your assets are only part of the equation. The IRS also considers your net disposable income every month. Give us a call at 866-8000-TAX or fill out the form on on our website choicetaxrelief.com/ for a free consultation.

  • @deanwalker7216
    @deanwalker7216 5 หลายเดือนก่อน +8

    The IRS somehow holds 5 ACES w no wild cards. Just pay your debts people. The Ukraine needs it. 🙄

    • @kawayneparker2058
      @kawayneparker2058 2 หลายเดือนก่อน

      😂😂

    • @Iamsb2022
      @Iamsb2022 หลายเดือนก่อน

      😂😂😂 screaming!! 😂😂😂

  • @Leslie-t3e
    @Leslie-t3e 7 หลายเดือนก่อน +2

    I was denied due to owning my home free and clear. Now what

    • @LoganAllec
      @LoganAllec  7 หลายเดือนก่อน

      Are you able to take cash out of your home?

    • @Leslie-t3e
      @Leslie-t3e 7 หลายเดือนก่อน

      @@LoganAllec I owe 6000. I was willing to settle for 2000

    • @clockleon
      @clockleon 6 หลายเดือนก่อน

      @@Leslie-t3epocket change lol just pay it man😂

  • @DamianoOkaie
    @DamianoOkaie 9 หลายเดือนก่อน

    Hi Allec, efiled 2022 with other software in September 2023. Your contacts please!

  • @WeldJones
    @WeldJones 5 หลายเดือนก่อน

    SCAM

    • @LoganAllec
      @LoganAllec  3 หลายเดือนก่อน

      What do you mean?