I NEED HELP!!!!
14 years ago
So, I just did I trial run on my taxes using turbotax online and if my calculations are correct...I OWE.....
$1630!!!!!!
so I'm not asking for money...I'm asking for information...
has anyone else owed this kinda sum to the IRS before? How long did they give you to pay it?!
I'm a little panic-y so any and all information would be greatly appreciated.
Thanks!
~milli
$1630!!!!!!
so I'm not asking for money...I'm asking for information...
has anyone else owed this kinda sum to the IRS before? How long did they give you to pay it?!
I'm a little panic-y so any and all information would be greatly appreciated.
Thanks!
~milli
The IRS will set up a payment plan at a much lower interest rate than a credit card offers, experts say. "It's amazing, but the IRS actually charges less interest than anybody else. It's very low now, less than 5 percent," Jones says.
First thing i'd do is get your taxes done by jackson hewitt or some other tax preparer.. this way if you DO owe they may be able to represent you.
Second. Unless it's a small sum (I owed like $280 one year and paid it at a shot) the IRS will more than likely not come after you for the whole amount at once. As long as you stay proactive and say look.. I owe taxes of X amount but I can't pay it all at once. Can we set up a payment plan of like $20 a month? More often than not they'll agree as they are still going to get their money..
Anyway, if you do owe the IRS will not come after you as long as you remain calm and proactive. Trust me on this.
I'm supposed to get a bonus at work so that's going right to this (around $400)...I just wish this had happened like...last year or maybe next year
LEARN YOUNG ONE!!! lol
The IRS will set up a payment agreement if you need one, but I'm not sure if they will with something that low. I currently work as an independent contractor, which means I have to withhold my own taxes. Back in 2008, I lost my job and was out of work for 6 months. I ended up spending the money I saved for my taxes on rent and food instead. When tax time came around, I owed about $21,000 and still didn't have a job.
I ended up filing an extension on my taxes, which meant I had 6 months to file. However, I still owed the money and interest was piling up. Fortunately for me, I had a job and was earning money by the time those 6 months were up. I filed, contacted the IRS and was able to set up a payment plan.
As long as you talk to the IRS and negotiate a plan, they won't come after you. After filing my taxes, I waited until the IRS sent me their first letter stating I owed them money. That letter contained a contact number that I called to set up my payment plan.
=^.,.^=