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
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
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!
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👎
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.
My life changed too when I started doing this and putting money in stocks. The first few years it as really great, but this year I haven't felt like my portfolio is doing well. I have lost more than $40,000 from my portfolio the past four months, and it's now very worrisome.
The year has been really rough for everybody. But I've been able to cushion the effect though. Have you thought of using an investment advisor? They can make you good money especially during uncertain times like this.
Yes, I agree. I use a financial advisor too. Same person since 2020. I don't worry about whether the economy is going up or down or sideways. I always ride through.
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
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.
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
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!
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.
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.
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.
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?
With respect to an installment agreement, I live in the Philippines and I have no credit cards or checking account. The IRS will not accept money orders or cash transfers from private companies. I ran into that problem one time in my 20 years in the Philippines. I actually had to send cash to a friend in the States who then made the payment for me with the IRS. But my question is how can I make installments when I have no financial instrument to do it with. Sending cash to a friend is risky for every installment is burdensome. I only owed $1,000, so I made a one time payment. That was due to a car repo while I was in the States 25 years ago.
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.
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.
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.
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?
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
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.
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
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?
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.
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
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.
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
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.
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.
@@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.
@@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.
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
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.
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.
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.
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.
Generally, penalty abatements are not contingent on income - particularly the First Time Abatement. Your compliance and balance history are the most important factors.
I owe 97,000 for back taxes. I suffer from anxiety and Vertigo and work just enough for essentials. I have equity in our home, but no credit. Bank denied Loan.They want to seize my home now. What can i do?
@@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?
@@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).
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.
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.
With respect to April 15th deadline, I live in the Philippines and it takes a month for me to receive a letter from the US. My W2s are often late and sometimes it is past April 15th before I get to submit a return. I usually so not have to pay as I am retired and live off of Social Security, but what happens if my return is not submitted timely even though I owe no money? Can I be fined for a late return even if I owe no money? Thanks.
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?
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
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.
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?
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.
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 ?
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.
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.
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!
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?
Legal fees vary for an Offer in Compromise and depend on if you have a lot of returns that need caught up - give us a call today at 3303317611 and we can give you a free case analysis.
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 ?
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?
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.
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 ?
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.
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.
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
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😂
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
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
So if I qualify for hardship which I know I do I barley make it I’m having always get help from family single mom with kids my debts are more than I make . I owe from 2019 less 10k do I call for that or write letter ? And do I need make sure all my taxes are filed before I do this . Thank you
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
What is the way then??
@@enricke80You can reach out to *hack12jimmy_* I was able to move from distressing experience
Thank you! On hold with IRS. Had no idea about financial hardship option.
*hack12jimmy_* saved me from a living nightmare
*hack12jimmy_* was the turning point in stopping the prolonged
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
Thanks to *hack12jimmy_* I was able to move from distressing experience
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
Basic Consumer rights violation...
Or private rights violation
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!
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👎
*hack12jimmy_* is a true hero.
✌🏾
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.
@@myopiniongoodyouropinionbad yes I totally agree with you 👍
My life changed too when I started doing this and putting money in stocks. The first few years it as really great, but this year I haven't felt like my portfolio is doing well. I have lost more than $40,000 from my portfolio the past four months, and it's now very worrisome.
The year has been really rough for everybody. But I've been able to cushion the effect though. Have you thought of using an investment advisor? They can make you good money especially during uncertain times like this.
Yes, I agree. I use a financial advisor too. Same person since 2020. I don't worry about whether the economy is going up or down or sideways. I always ride through.
Oh, really? I have never thought of that as an option. Can I ask who it is you've been working with? I bet I could use some help myself.
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
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.
Thanks to *hack12jimmy_* I was able to move from distressing experience
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
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!
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.
@@TaxLawGuy he will be calling you today!! Thank you🙏
Sounds like you need a new boyfriend
20 a month for life fakkk it
Abeyment
Ever notice how the federal government is more stringent on the people than on politicians?
Period! I've noticed that too.
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.
Are you able to do California?
Thanks to *hack12jimmy_* I was able to move from distressing experience
Thsnk You. Geeat information
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.
How can you be reached
I must be missing something. How can I be current and compliant yet delinquent at the same time?!
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.
@@TaxLawGuyis it possible to get a refund still taxes are owe ?
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?
Give us a call!
With respect to an installment agreement, I live in the Philippines and I have no credit cards or checking account. The IRS will not accept money orders or cash transfers from private companies. I ran into that problem one time in my 20 years in the Philippines. I actually had to send cash to a friend in the States who then made the payment for me with the IRS. But my question is how can I make installments when I have no financial instrument to do it with. Sending cash to a friend is risky for every installment is burdensome. I only owed $1,000, so I made a one time payment. That was due to a car repo while I was in the States 25 years ago.
I am so happy about all the well explained information. I scheduled an appoitment with you. Thank you so much
I might need help, how can we talk?
??? ...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.
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.
And this kids is why you don't take on the IRS. this mffer will be out of prison in 15 years.
Bible principle or commandment Matthew 22:21 this is the 1st place for someone obligated to pay taxes
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.
Your gonna be in prison for your tax evasion
How does that affect the credit report?
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.
Thanks to *hack12jimmy_* I was able to move from distressing experience
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?
I would recommend filing a Taxpayer Advocate Request - they will be able to cut through the red tape and help you with this issue.
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
Very Depressing Listening to these IRS problem .
hide tax law guy and smile
I owe like 20k. Make 60k a year but i have almost 20 k on credit cards and 2 loans dont own any assets whats my options?
Thank you SO much for this information. So happy to have come across this video.
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.
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
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?
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.
Try applying to have the penalties & interest reduced.
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
Did u fix it yet
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.
@@portermatthew84hello Porter, I am curious how long did it take for them to give you a notice about the unpaid tax?
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
It's likely just his final return. A good CPA should be able to handle that.
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.
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.
So much thanks and appreciation *hack12jimmy_*!! I really appreciate your kind gesture and straightforwardness in your services.
@@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.
@@johnsonajayi7846 STATIST (look it up if you have to)
@@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.
Offer in Compromise, yes please. Thank you
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
Wow! Thank you so much! Great information. What I heard the loudest...... DO SOMETHING!! NOW!! Thank you.
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
There are plenty of options available!
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.
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?
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.
please what is the form number of compromise setlement thanks
For the Doubt as to Collectability Offer for an individual, it is the 656 and the 433-A (OIC).
What happen if you were incarcerated and not able to file and want to fix the issue
I am not sure if I qualify for any other program
You may qualify for financial hardship if assets are an issue.
If someone hasn't filed or paid for years; should they reach out to the irs, or wait for irs to contact them?
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.
@@TaxLawGuy THANK YOU!
Can you write of payments to back tax? Generate sells to pay tax?
So where can I find an attorney to help me do this
Give us a call at 330-331-7611.
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.
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.
Generally, penalty abatements are not contingent on income - particularly the First Time Abatement. Your compliance and balance history are the most important factors.
@@TaxLawGuy is there anything I can do about income tax? I’m probably going be owe more money after filling this year.
@@jrobinson9239 The IRS offers payment plans, and, if you have low income/assets, they offer an Offer in Compromise.
I owe 97,000 for back taxes. I suffer from anxiety and Vertigo and work just enough for essentials. I have equity in our home, but no credit. Bank denied Loan.They want to seize my home now. What can i do?
Please forward your information. I would like to discuss POA of my tax situation if you are available.
Give us a call at 330-331-7611.
@@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?
@@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).
Is a tax attorney recommended for an oic or can one work directly with the IRS on the matter? Thanks in advance
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.
You ever think about suing the IRS for unconstitutional practices?
Wow! I was thinking the same thing.
Sounds great in theory but the problem is the government will keep coming after you using tax payer dollars to bankrupt people.
Try that and see if you can win the government.
While you would be morally and legally correct...good Fn luck with that.
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
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.
They saying they are offering me to pay 6,000. For year 2019 taxes.
With respect to April 15th deadline, I live in the Philippines and it takes a month for me to receive a letter from the US. My W2s are often late and sometimes it is past April 15th before I get to submit a return. I usually so not have to pay as I am retired and live off of Social Security, but what happens if my return is not submitted timely even though I owe no money? Can I be fined for a late return even if I owe no money? Thanks.
Where do you find information about financial standards for say a family of two with one income?
Thank you for the video
www.irs.gov/businesses/small-businesses-self-employed/collection-financial-standards
Thanks you great advice as I need this know due to financial circumstances
Glad it was helpful!
Will an OIC affect a credit score?
No it does not.
Can you help with payroll from Deparment of labor
What do you mean? The IRS handles federal payroll taxes.
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?
Have you tried just setting up an installment agreement online? Create a an IRS.gov account and create a payment plan.
@@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!
@@kevinjohnson3521 I agree! They are getting very bold!
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
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.
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.
You are so welcome!
Great feedback here Thanks.
How do you find the form to write readonable cause abatement? Or how to write up this letter?
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?
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.
@@TaxLawGuy ok, thanks!
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 ?
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.
Why doesn't the irs automatically garnish wages?
May you help me to understand if this papers I’ve received is ligit from the IRS?
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.
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!
Does this work for state and local taxes?
Can you do an offer and compromise if it’s for back gross receipts tax due from a failed business?
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
If you stay under the standard, they generally do not question it.
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 😊
thank you sir!
You bet!
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?
Yes I do! Call us at 330-331-7611.
So how much is someone looking at with the attorney fee
Legal fees vary for an Offer in Compromise and depend on if you have a lot of returns that need caught up - give us a call today at 3303317611 and we can give you a free case analysis.
FACTUALLY, what is taxable income?
What if someone has not filed taxes in 5 or 6 years.
That's no problem - we can get your returns current and then submit the Offer. Any taxes due on those returns would also be included in the Offer.
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 ?
Yes, once the Offer is accepted and paid, the lien is released.
@@TaxLawGuy thank you
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?
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.
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 ?
Did you get an answer? I did the same thing last year and forgot to put it back
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.
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.
@@TaxLawGuy Then my 2019 refund will be forfeited in 2024 if my 2018 back taxes are not resolved and paid?
Thanks.
@@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.
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
Yep it’s called “file the taxes” then go from there . He told you this in the video
Is social security considered income? I have health concerns and may need to retire before my installment agreement is finished.
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😂
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
Yep - that is called a default. Your IA will go into default because you are not allowed to owe any more past April 15th.
Do the installment payments go on your credit report?
I heard the back taxes are satisfied when filed for the past 6 years. Is this is a soft rule?
Very informative video!!
Thank you.
Hello, where are you located?
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
Do anyone know how long it would take for irs to reissue u a check if your bank sent it back to the IRS
How does one contact you for help?
Email us at support@jmsellslaw.com
So if I work part time 19k a year and gig work 8k….but possibly owe 100k I could be considered uncollectable?
Sure does sound like it!
how do I get in touch with you directly?
Give us a call at 330-331-7611 or email us at support@jmsellslaw.com
Very helpful thanks
Can you do an offer in Compromise while on an installment agreement?
Yep! Absolutely! Although I recommend that you stop the IA after you submit the OIC . . . otherwise you are throwing money out the window.
Would you be able to negotiate for a client ?
Absolutely! Give us a call at 330-331-7611.
What if you're retired?
EXCELLENT VIDEO
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
Estimated tax is for future taxes - not back taxes.
@@TaxLawGuy thank you
So if I qualify for hardship which I know I do I barley make it I’m having always get help from family single mom with kids my debts are more than I make . I owe from 2019 less 10k do I call for that or write letter ? And do I need make sure all my taxes are filed before I do this . Thank you
Yes, you must be current with returns and an OIC is submitted on Forms433-A(OIC) and Form 656.