More details to this question:
I am currently in the process of working out my back taxes. I believe I owe about $60,000. I am not sure of the outcome. My vehicle is my livelyhood and I am concernced about what the IRS will do to my girlfriend. Can you please tell me what some of my options will be and how much of my income will the IRS take or can I arrange to make payments on it? Please help!
1 ANSWER
Tax Law Attorney serving New York, NY
1 Award
It is usually best to work out a payment plan with the IRS and then consider an offer in compromise. The actual decision of what plan is best for you would depend on your income, assets, and where the collection actions stands. If you would like to discuss, please call my office at 1.800.714.7592 for a free consultation. Tim Hart, Tax Attorney
Answered on Sep 06th, 2012 at 8:29 AM