IRS Levy

[pwilson316]

Looking for some advice on how to handle it or what my options are.

 

[vi edit]

Child support or taxes?

 

[pwilson316]

Taxes.

 

[GuitarDaddy]

If it's a significant amount get a lawyer. They can often be settled for a much reduced amount, depending on the case

 

[pwilson316]

Has anyone ever been able to work with the IRS to set up a more reasonable payment then what they are saying they will take?

 

[Mutilator]

Originally posted by: pwilson316
Has anyone ever been able to work with the IRS to set up a more reasonable payment then what they are saying they will take?

Yes.

Main question is - what they say they will take is it really TOO much for you to afford or do you not want to sacrifice anything to be able to afford it? There's a reason they say that there are only 2 things certain in life - death & taxes... and the taxes can be worse, especially if you fall behind.

Offer in Compromise. Look on their site. Keep in mind it is a lot of work and if you do all the paperwork and numbers and it still says you can afford what they think you should pay then you're basically SOL and have to pay what they ask for. Also remember you don't NEED Cable TV, High Speed Internet, Cell Phones, etc. Basically when you prepare an offer you have to go through your finances with a fine-tooth comb to find out how much you can really afford once you get rid of everything that you don't need. Yes this could mean your house, car, etc. depending on how bad off you are.

Even if you aren't going to file an offer I'd get the workbook for it anyway and go through it to see what numbers it comes up with. Also, do it yourself - don't pay one of those companies you hear about on TV or the radio because they often ask for more up front than you may end up paying total.

 

[BrunoPuntzJones]

How much do you owe?

The IRS has really cut back on OIC...

And bankruptcy won't help

 

[pwilson316]

It's just over $5000. I was making payments to them until I lost my job a few years ago. I had to move to find a new job and failed to get back on a plan with them. I guess they have been sending letters to my old address, but my ex-roommate seems to have not bothered forwarding them to me. Hopefully they will be willing to work with me again once I contact them.

 

[Mutilator]

Yeah call them and explain the situation... people typically give you a lower payment plan than the letters do.

 

[MichaelD]

Originally posted by: pwilson316
It's just over $5000. I was making payments to them until I lost my job a few years ago. I had to move to find a new job and failed to get back on a plan with them. I guess they have been sending letters to my old address, but my ex-roommate seems to have not bothered forwarding them to me. Hopefully they will be willing to work with me again once I contact them.

Sorry to hear of your troubles with The Man. That said: It's YOUR responsiblilty to let your creditors know your new mailing address. "My roommate didn't let me know, the dog ate the mail, my ex-wife burns my mail" etc are not your creditors issues. You should've let them know you moved, especially if you were paying them. It really looks like you hid from them behind your living/moving arrangements.

Just curious; how did you wind up owing them $5K anyway?

 

[thirdlegstump]

Just $5K? You're way better off sucking it up and paying for it. It's not worth the hassle to squeeze a few hundred dollars. Remember that each time you ask them to look into negotiation, they will take weeks and sometimes even months to process your request. During this wait, you'll be incurring interest charges and further penalties and they'll still give you roughly the same estimates as they are extremely thorough into their investigation for the cause. I had to pay even more than that and glad that I did without further fighting it. There is really no escape.

 

[MichaelD]

Originally posted by: deathkoba
Just $5K? You're way better off sucking it up and paying for it. It's not worth the hassle to squeeze a few hundred dollars. Remember that each time you ask them to look into negotiation, they will take weeks and sometimes even months to process your request. During this wait, you'll be incurring interest charges and further penalties and they'll still give you roughly the same estimates as they are extremely thorough into their investigation for the cause. I had to pay even more than that and glad that I did without further fighting it. There is really no escape.

I agree. I've been thru this before on a much smaller scale. Sold some stocks, didn't claim it (honest ignorance). They caught up with me TWO YEARS later. :| And they charged me interest from teh date of the sale. :roll: I wasn't happy and had to pull money out of my @ss to pay for it. Just deal w/it as best you can.

 

[dquan97]

Originally posted by: vi_edit
Child support or taxes?

I didn't think IRS enforces child support arrears...however, CA FTB does.

 

[ATLien247]

Originally posted by: MichaelD
I agree. I've been thru this before on a much smaller scale. Sold some stocks, didn't claim it (honest ignorance). They caught up with me TWO YEARS later. :| And they charged me interest from teh date of the sale. :roll: I wasn't happy and had to pull money out of my @ss to pay for it. Just deal w/it as best you can.

So you gave them your ass pennies, eh? Way to stick it to the man!