Anyone with good info/sites on how to deal with a settlement with the IRS? They are sending notices to a friend and this person isn't sure how to handle the situation. What can they do? What will they do ? Thanks.
Your friend's options are limited, as all options involved cash.The IRS is looking for payment, if not they will look for assets. Not knowing what kind of notices he/she is getting, it is hard to comment. Example- back taxes, not filing, etc. One thing, do not ignore these notices. There are firms out there that will give advice and help set up payment plans with the IRS. Best regards, Mirage
There have been several discussions of various IRS issues that you should be able to find easily by searching "lien" or "liens". In terms of what the IRS can and will do...just about anything you can imagine. They're rough. Those notices are not to be ignored. Depending upon how large the amount is, it might be worth it for your friend to consult with a tax attorney. DemPooches
I think what your friend is looking for is an "Offer in Compromise", which is basically settling for a lesser amount. There is a process/forms that need to be completed. Do a search on this board and on Google.
Thanks all. The notices are notices to file although the person hasn't filed in many years after working as a sub-contractor. My parents told me not to mess with the IRS and I am glad I never have. I'd rather deal with the creditcard companies.
Hermit- Unfiled taxes that are older than 3 years and 240 days past assessment can be discharged in a chapter 13 bk. So if he owes taxes from 1998 and before this might be the way to go for him. If he files those taxes then they ARE not dischargeable in a chapter 13 as the reaging makes them priority taxes and they have to be paid 100%. If you want you can email me and I can get more specific...my email is on. clc
