The IRS agent who was auditing me is getting fired today, can this benefit me in any way ? I owe them north of 500k

[newbieshore]

I wanted to get your thoughts on a matter I'm dealing with. To keep it brief, I used to generate significant revenue when the market was strong I'll admit, I think I got a bit lucky back then. However, my current income is nowhere near what it used to be, and I find myself unable to pay even a quarter of what I owe the IRS.


Do you think this situation might support a case for a letter of compromise? I'd really appreciate your insights, especially considering all the recent changes.

 

[bdt]

I hope it does, but I'm not sure if IRS will let that much slide! I'd maybe take advantage of the case handler change to turn over a new leaf and see what you can wangle! Good luck!

 

[EliasIT]

I assume you live in the USA. If you manage to pull it off, you're much luckier than me, and I'd love to hear about it if you succeed.

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My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.

 

[wellington]

Surely if you were earning such before you'd have assets you could easily liquidate to settle the outstanding?

 

[Martin Everson]

Hopefully OP does not go on hiatus again after starting a thread like below one. Not sure what he was up to with his actions then. Is he trying to get people to suggest illegal actions and incriminate themselves and forum? Who knows ca#"!.

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Thread 'So I am in some deep waters with the IRS, I didnt file for about 7 years and they now want me to file'​

Nov 12, 2024
I am honestly worried this could destroy my life and hold me back for 2 decades, I must owe around 500k once all filed, they now want to see my wifes income as well, bills, savings, bank accounts, and income. I was not doing well at all and my bank statements show it, I barely started doing well again started making sales and I can either run them via my wife or me should I put all income via her ? I have a young daugher, we just got a house via an investment I had that I sold, all these problems with IRS were before I got married to my wife.

I will most likely have to pay them monthly...

• newbieshore
• Replies: 57
• Forum: Tax, Accounting, Licensing & Legal

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Despina]

newbieshore said:
I find myself unable to pay even a quarter of what I owe the IRS.
Click to expand...

Gift him 1/10 of the sum owed in exchange for his silence

 

[usacpa]

If you don't deal with IRS debt the interest and penalties will continue to accrue. When there is turnover in the IRS The debt doesn't go away but they may not aggressively enforce collections.... For now.

Don't wait until you are making good money again, deal with it now the interest and penalties will continue to accrue

 

[forward]

He gets his files reassigned when fired to the agents who are still employed ...

negotiate the payment plan with the IRS

 

[icecold]

usacpa said:
If you don't deal with IRS debt the interest and penalties will continue to accrue. When there is turnover in the IRS The debt doesn't go away but they may not aggressively enforce collections.... For now.

Don't wait until you are making good money again, deal with it now the interest and penalties will continue to accrue
Click to expand...

You should listen to this advice, of course, all the debt that taxpayers in the U.S. owe to the government doesn't just disappear just because they fire some people. That's just common sense, I think.