I owe $38,000 to IRS, 20,000 actual and the rest interest and was considering these firms that make deals with IRS, the ones on TV and the ones that flood my mailbox anxious to help. Can they really get a better deal than me or is it just a scam?
I'm sure there are some good tax attorneys out there that could help, but I would venture to say that most of the ones filling your mailbox with advertisements aren't worth your time or money.
Have you tried talking to the IRS directly? You can discuss an offer and compromise. Even if you don't have a large sum of money to pay it off all at once you can rework your payment and they will stop charging you the interest and penalties. Here is the IRS number 800-829-0922. Thanks! Heather with BoostMyScore.NET
Depending on a variety of factors, such as why the tax wasn't paid, whether there was any fraud intended, what your current income and assets are compared to the tax debt, whether the taxes are old enough to discharge in bankruptcy, you may be able to negotiate a favorable settlement directly with the IRS, and it can't hurt to ask. You should be able to see a taxpayer advocate at the local IRS office, who can help you with the process, and there is no charge, unlike the companies you see advertising on TV. Also, depending on what kind of taxes these are, and if the returns were filed on time, you may be able to discharge the taxes (or at least the interest and penalties) by filing for bankruptcy. A bankruptcy attorney should be able to tell you if filing for bankruptcy protection is a good option for your situation.
A friend reworked his payment (had it lowered) however the IRS is still charging him interest and penality. I can understand paying a settlement in full but I don't see where reworking payments or even making payments on a settlement amount how the IRS would stop charging interest or penalities until the debt is paid in full. Please let me know the procedure or where to start and I will relay this information to my friend. He has already paid well over $1000 in interest and penalities and is still paying. Thanks.
