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Offer in Compromise


iecus
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Guys, I tried a search here and came up empty. I need to know if anyone came help me or if there's a lawyer I can talk with to help get this done and how to do it.

My wife at the time under 17 dad died "parents weren't married" and all the kids got some money from his insurance policy. The lawyer gave everything over to the mother but was still in my wifes name. they cash the check "not asking any questions about taxes" how dumb was that and bought a house, just to lose the house a couple years later. now my wife owes them close to 14K. Her tax returns has always been around 1K can and they take it every year.

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now my wife owes them close to 14K. Her tax returns has always been around 1K can and they take it every year.

She owes the IRS $14K? Yep, they can keep the tax return. They have the power to do all kinds of nasty stuff. You should come to a payment agreement with them ASAP. If they start putting liens and seizing stuff, it can be a real nightmare.

-r

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we tried going through JK harris, but they're a rip off. they take your money and nothing gets done. at the time we tried to talk to the IRS about it and we are willing to pay 1/2 or less, but to setup a payment plan for 14K. I don't want us to have to pay that much and even w/ the payment plan they still take your taxes in mean time to.

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OK. I am not a tax attorney, nor do I play on on TV.

The background is a little unclear. When your wife's dad died, your wife's mom took the check made out to your wife, endorsed it and kept the money? If so that's fraud but I suspect that your wife doesn't want to throw your mom in jail.

How long ago was the tax assessed? Assuming you haven't done anything to reset the clock, the IRS only has 10 years to collect the tax.

If your wife is getting a $1k refund each year, she is underwithholding. Essentially, you are giving the government a free loan on the extra money, only that when April 15th comes around they discover that you owe them more and keep what they were going to give back to you. I would adjust my withholding to take about $15 less per week (you want some margin).

Find a local attorney who specializes in tax law. Avoid the ones that advertise on Oprah & Maury... they're sleazebags. Your first consultation should be free or darn near free and that will give you a better understanding of where you are and what you can do.

Whatever you do, don't try and dodge it, or the next thing you know, you'll be getting a notice of Intent to Levy, which you definitely do not want.

If you go the OIC route, make sure that you understand the penalties for underpaying tax or missing payments before you sign. They can be very harsh.

Good luck.

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