Not sure if IRS can be answered here, if it can't just ignore. I owe IRS $36,000 from 5 past years, since I haven't had work for nearly 6 years. Interest is $13,627. At 64, my income is almost limited to pensions and the idea of paying all that back is almost impossible. I don't want to use those companies who promise to get you deals as I don't trust them... Can I see if IRS will at least give me a tiny break, maybe in the interest?
They will if you wrote them that you ar unable to pay them the amount . As if they lose you they will lose there amount too . So they will allow you to pay as low interest as they could .
The IRS may agree to an Offer in Compromise if you can prove to them that you will not be able to pay off the debt. If you go to the IRS websites and type in offer in compromise. The first scenario in the link that says "What is an offer in compromise" would be the one that applies to you. The other option if you can pay off the debt is to set up an installment plan with them. As an Enrolled Agent I have to add this disclaimer Disclaimer: This electronic mail and any attachments are intended for the use of the intended recipient and may contain trade secrets, privileged or otherwise confidential information. If the reader of this message is not the intended recipient, you are hereby notified that any dissemination, distribution, or copying of this communication, or any of its contents, is strictly prohibited. If you have received this communication in error, please reply to the sender and delete the original message and any copy of it from your computer or facsimile system. Nothing in this email should be construed as investment, tax, or legal advice. Thank you
You have to prove IRS that you have nothing in your estate or in your legacy that can be employed to pay off your debt then they will agree to wave off it. but if they find any thing in your possession....then they will set a installment plan to pay off your debt. I am sure all will be worked out. Best of Luck.
