I owe $80k+ in taxes and simply cannot afford to pay the IRS anything. I make very little at the moment and I owe the taxes on money I have never seen. I worked for a company who had Me put things in my name for awhile. They had me take out large sums of money for them as cash. I now know they used me as a shell company but the paper trail marks me as the debt holder. I was paid a very small sum of money to do this on top of my wages for the company. Being new to business and having no knowledge
One day you might find out that your finance went out of control. You can’t afford all the things you like and even don’t pay all the bills. To say nothing about credit card payments, mortgage (if there is one) and so on. The debts grow from day to day and you can do nothing about them. Actually, the situation is somewhat better. You can find the necessary options. There are special services to help people find the way out.
There is even not a single one. If the debts have be
If my debt was $3000 and my creditor forgave $2000. What would be the approx rate or amount that we need to prepare to pay to the IRS? Is there a tax table available online for this? Or a general rate?
i read that if you saved more than $800, or something like that, with debt negotiation, that it gets reported to the IRS and youre liable for paying taxes on it. is this true? if it is, whats the benefit, then, of doing the negotiation if youre going to have to pay 30%, or so, on taxes? i dont get it…
