The IRS Takes
If you find yourself
behind in tax liabilities, you can always borrow at the IRS
Bank. The IRS has over 280 billion dollars owed to
them by individual and business taxpayers.
you find that you canít pay what you owe, the IRS will work
out some type of payment arrangement. The IRS guidelines for
personal living expenses are very stringent. But the bottom
line is that you only pay what you can afford each month. For
example: A taxpayer who owes the IRS $43,000 may only be
paying $50 per month and a taxpayer who owes $16,000 may be
paying $800 per month.
How much you owe does not matter. The payment
arrangements are based on how much you can pay. You must
understand what the IRS guidelines allow BEFORE any contract
is made with the IRS regarding monthly payments.
We review the taxpayerís financial condition and can
usually suggest the amount which the IRS will accept for a
monthly payment before we contact the IRS. Our clients must
approve the monthly payment amount before we agree to anything
with the IRS. The best time to handle an IRS payment
arrangement is BEFORE the IRS levies your bank account or
garnishes your wages.
Please note : Also see my section on