True Stories of Irs Tax Debt - The issue For Truckers

Accounting - True Stories of Irs Tax Debt - The issue For Truckers

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Heard it All Before: I receive letters and e-mails from population who need tax help and advice. All too often an independent firm person, particularly truck drivers are hit hard by the Irs. Their lifestyle of always being on the road can make it hard for them to file their taxes on time. Also as our unfortunate debtor points out in his letter, he doesn't get "snail mail" and as a ensue the Irs has enforced two brutal range actions against the person.

What I said. It isn't the conclusion that the true about Accounting . You see this article for information about that wish to know is Accounting .

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The quiz, is; what help can he get?

Hi. I saw your website and thought I would drop you a line. I am in bad shape. I owe back taxes from 1996, 1998, 1999, 2006 and probably owe for 07 as well. I just got a bank levy the other day and they also have seized my paycheck. I am an over the road truck driver and I do not receive "Snail Mail" as a normal man would. Consequently I was unable to reply in time. After repeated phone calls I never get the same reply twice from anyone. I am to the point I don't even know who to believe anymore. One agent had me paying over 1k per month and an additional one told me 300 dollars per month. They are telling me I owe them over 37k. By all ownership I am Homeless. I live in my truck. However I have no intention of Living in my truck 24/7/365 merely to make payments to the Irs. I know that the Statute of Limitations will come in to play quite soon. I did However try the Offer In compromise back in 05 and they rejected the offer. It was rejected on Erroneous information that they failed to ensue up with me when I asked them to prove to me where the so called vehicle was that they had attached to me. I know any payment arrangement would involve me signing away my ownership to the Statute of Limitations. I have nothing I own no real estate I make payments on a car and that's it. I am not sure where to go here. I could truly use some advice here.

Let's break down his situation.

He owes back taxes from 1996, 1998, 1999, 2006, and 2007 for a total of ,000. He has a garnishment on his wages, and his bank catalogue has been seized.

Is 10 the magic number?

He mentioned that he knows the Statute of Limitations is about to run out. That's partially true. The Statute of Limitations is a 10 year duration that the Irs has to secure on your debt. There are factors that can growth the length of the Statute, and this man has already extended it.

He mentioned that he applied for an Offer in Compromise in 2005. The time that a man is waiting for an approval on an Offer is added to the Statute of Limitation. Since most offers take about a year, this person's Statute is at least 11 years from the date of the first debt now.

If he's lucky he might see the debt from 1996 disappear, but he'll still owe on the other years.

He also mentioned that if he gets into a payment arrangement now that will increase the Statute. That's true. If you enter into a payment plan with the Irs, they have the potential to increase the Statute of Limitations by 5 more years.

What about a settlement?

Now to the Offer in Compromise...the writer claims that he was denied in 2005 on a technicality. This is one of the pitfalls of an Offer in Compromise. Even if you can qualify, if the paperwork isn't done truly correctly then you can still get denied.

Is he up the creek?

It does appear so, but appearances can be deceiving. Even though he was denied for an Offer in Compromise in 2005 he is a good candidate for an Offer. He lives out of his truck, he has no property, and his only asset is a car. His situation fits the undue hardship clause for an Offer in Compromise. Also once he starts the Offer process the Irs will place a temporary hold on range actions, which will mean his paycheck and bank accounts can be accessed again. He does have to keep up with his filings in the future once he gets an Offer in Compromise accepted. What's foremost is that he will have his life and financial freedom back.

Now he has the smoking gun...and you do too!

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