0
What happens if you don't have the money to pay the IRS for back taxes?
Wiki User
∙ 15y ago
There are a lot of options. You can get on a payment plan, you can have them place you in "currently not collectible" status (meaning that they will acknowledge that you currently have a financial hardship and will leave you alone for a few years), you can try to make a settlement with them (an Offer in Compromise). It really depends on your financial situation. If you owe less than $25,000 you can call them up and get a five year payment plan wihout needing to provide any documentation to them -- it's guaranteed. If you want to do an offer in compromise or be placed in currently not collectible status you will need to provide a financial statement to them showing your current finances.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
Why don't Indians pay taxes?
They dont pay taxes because they were the original inhabitants of north america
What happens if you do not file income tax for one year?
It really depends on your individual situation. If you dont file taxes and then you owe then you are subject to penalties and fines for filing late as well as interest on the debt that you owe. If you are entitled to a tax return and do not file nothing comes of it. You can go back for up to three year and file, but after three years that statute of limitations runs out.
Do yu have to file taxes if you make less than 1200.00?
if u make less than 1200 a year no you dont have to file taxes
How do you resolve a bank account levy with the IRS?
You pay the underlying assessment. If they already went to levy an account, you may even be past the time you can protest. If you ignore them long enough...THEY DO NOT go away! ------- In my case, I didnt. They took all the money out of 2 of my accounts. I contacted them and am working to file my back taxes. My CPA says after I do so, I will get a refund of the excess. A levy is a 1 time thing. They did it to my account and I have since put money back in the account and they dont automatically get it unless they happen to do another levy. And they probably wont because I am not running from them anymore ! LOL
What happens if a business owner dont file or pay their taxes?
A business owner can go to jail for not filing their taxes. The IRS considers this tax evasion. If a business owner does not pay their taxes then the IRS will get upset and send nasty letters to the business owner, but cannot put them in jail. The best advice is to seek professional help immediately! Don't go with just any company. Go with a company who has an outstanding Better Business Bureau rating and one that is very experienced in dealing with these types of matters. Don't wait and don't be scared! Take action and take control! You can get back on track before it is too late. The key is to ACT NOW!
What happens if you dont pay your taxes?
You go to jail
What happens if you dont pay LTD back?
What happens if you don't pay back LTD when awarded SSA disability? I was not aware I had to pay theme pack and the money is spent.
If I dont pay my property taxes what will happen to me?
The government will file a lien against your property. You usually have a set time period to repay the back taxes after that happens. If you don't, then the government can foreclose on your house.
What happens if you dont save money?
you will have no more money because you wasted it all
How much money is taken from taxes by nasa?
i dont know but i need to for research purposes
Are there taxes in Dominican Republic?
Yes, but you dont have to report it, and doesnt give taxes back. The taxes are called ITBIS and are paid indirectly when you buy product and services.
How much money will you get back if you cancel membership in pixie hollow?
u dont get money back
Can you get your money back if you reset your iPod?
No, you dont.
How do you get your money back from a lost money order?
you dont, sorry your broke now.
If you sue someone and they dont have any money what happens?
u sue them, what else?
What if they dont love you back?
Answer Unfortunately this happens sometimes. You have to move on. There is someone else out there for you who will love you back.
How was money made back then?
i dont know but i love u
