What could happen to me if they find out that I owe the IRS?

What could happen to me if they find out that I owe the IRS?
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1 Answer

Answer :

The IRS can actually garnish your wages if you owe back taxes. However, they will work with you on an installment plan if you need it. The IRS wants their money so they will try to give you a discount if you ask for it.
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Related questions

I had a payment plan in place to pay my back taxes owed to the IRS (approx 1500) they took my Stimulus Ck and I think my balance might be around 1200 - 1500. How do I find out what I owe them today. and how do i re-enter a new agreement with them?

Description : I had a payment plan in place to pay my back taxes owed to the IRS (approx 1500) they took my Stimulus Ck and I think my balance might be around 1200 - 1500. How do I find out what I owe them today. and how do i re-enter a new agreement with them?

Last Answer : Call the IRS and talk to an agent to find out your balance and how to enter a new agreement with them.

Can tax software help me even if I owe the IRS?

Description : Can tax software help me even if I owe the IRS?

Last Answer : If you owe the irs you should contact a tax professional.

Can I find out how much back tax I owe on the IRS Web site?

Description : Can I find out how much back tax I owe on the IRS Web site?

Last Answer : The best way to find out how much back tax you owe is to call the IRS or visit your local office. You can also contact a professional tax team, like a tax attorney or CPA, to act ... also request your Record of Account and Account Transcript which will give you a summary of your account activity.

Should I contact the IRS if I owe back taxes?

Description : Should I contact the IRS if I owe back taxes?

Last Answer : Yes definitely contact the IRS with regards to taxes. Often you can workout a payment plan. Many times penalties and interest can be removed. When these are added they increase the taxes that are ... will the IRS. They can often negotiate favorable terms for you regarding the back taxes. Good luck!

i want to know if I owe the IRS?

Description : i want to know if I owe the IRS?

Last Answer : The best way to how if you owe the IRS money is to contact them. You can try calling them or visiting their website. There should also be local offices in your area. You can find the locations from the ... as well. If you do owe, you can then try to set up an agreeable payment arrangment. Good luck!

How long does it take the irs to take there money you owe them Will my tax refund be offset even though the irs process my tax return?

Description : How long does it take the irs to take there money you owe them Will my tax refund be offset even though the irs process my tax return?

Last Answer : Yes if you owe the IRS money your tax refund will be offset, and usually if they are aware that you owe them money, they will offset it immediately.

When you pay more than you owe in taxes and the IRS gives you money back, that money is called _________. A. A tax refund B. Gross pay C. Estimated tax D. An audit?

Description : When you pay more than you owe in taxes and the IRS gives you money back, that money is called _________. A. A tax refund B. Gross pay C. Estimated tax D. An audit?

Last Answer : A. A tax refund

I have delinquent property taxes and they want to take my home. what can i do I owe 2 years worth. I went thru a bad divorce and could not pay.?

Description : I have delinquent property taxes and they want to take my home. what can i do I owe 2 years worth. I went thru a bad divorce and could not pay.?

Last Answer : immediately go to your family lawyer and explain your position, and ask some more time for that one it is better idea.

Could you inform me about IRS 1099 form?

Description : Could you inform me about IRS 1099 form?

Last Answer : There are a whole series of IRS 1099 forms, with various letter combinations preceding or following the 1099 to distinguish them. They are used to report income other than wages, tips or salaries. ... of income they are used to report are dividends, interest, proceeds from a real estate transaction.

Does my landlord owe me compensation?

Description : Does my landlord owe me compensation?

Last Answer : I am not sure about his legal recourse, but renters insurance probably would have covered it.

How much courtesy do I owe the people who treated me badly in high school?

Description : How much courtesy do I owe the people who treated me badly in high school?

Last Answer : I would just tell them what just told us and add a smile and possibly a wave bye-bye.

What if I don't file my state taxes and the state would owe me money?

Description : What if I don't file my state taxes and the state would owe me money?

Last Answer : Nope. If they owe you money and you don’t file you are fine. I’m not sure why you wouldn’t since you have already done the hard part (filling out the forms).

i am selfemployed and i owe taxes for 2005 and 2006 i cannot pay them because of back and knee apoerations and filed for disability and the keep adding on penality and interest can you help me get them reduced?

Description : i am selfemployed and i owe taxes for 2005 and 2006 i cannot pay them because of back and knee apoerations and filed for disability and the keep adding on penality and interest can you help me get them reduced?

Last Answer : first locate a disability and tax advisor or tax lawyer.they will be able to tell you and advise you ways the IRS wont

If your married and owe child support can they garnish my wife?

Description : If your married and owe child support can they garnish my wife?

Last Answer : Need answer

if you cosign on a bail bonds are you just responisble for that person showing up to court or are you also responible for the amount they may owe once they go to court if they dont pay?

Description : if you cosign on a bail bonds are you just responisble for that person showing up to court or are you also responible for the amount they may owe once they go to court if they dont pay?

Last Answer : You are responsible for the cost of the bail bond if the individual does not show up. It's up to the individual to get himself/herself to court, though some prodding might not hurt. If ... is resolved requiring fines or court fees, the individual is responsible, not the person who posted the bond.

Will the IRS help me with my tax returns?

Description : Will the IRS help me with my tax returns?

Last Answer : The official IRS website offers many informative links that will be invaluable to correctly filling out your tax returns. FAQs are offered in list form and can be accessed directly via the ... , beginning this year, nearly all official state and federal forms are available in downlowdable format.

I want to hire a Tax attorney to help me with the IRS. Should I?

Description : I want to hire a Tax attorney to help me with the IRS. Should I?

Last Answer : I suggest beginning with IRS.gov. If you can't find an answer there or through free assistance they offer by phone, check your local yellow pages for attorneys specializing in tax law and issues with back taxes.

How do i Save money to Move out of My Parents' when i owe Loans and Car?

Description : How do i Save money to Move out of My Parents' when i owe Loans and Car?

Last Answer : Could you not join a commune? or share an apartment. Over here we have what is termed granny cottage living, but it is an outhouse or guest-house made into a mini apartment. They are cheaper and ... garden. I guess we could all stay at home because of cost, you just have to jump, and fly!

How do I find out exactly how much I will owe in taxes next year?

Description : How do I find out exactly how much I will owe in taxes next year?

Last Answer : For me, when I claim 1, I end up with a sizable refund. I don't like getting a refund because that means the government withheld money that is rightfully mine that I could have invested ... they start asking questions and requiring documentation - this year I owe $240 so it worked out rather fine.

How to find out where I owe money everywhere?

Description : Don't you know of any register where I can find out all the debts I can have? Thank you

Last Answer : You'll find out quickly when the executor arrives

how do i find out how much i owe?

Description : how do i find out how much i owe?

Last Answer : how do i find out how much i owe

how can i find out what i owe taxes on for the year 2003?

Description : how can i find out what i owe taxes on for the year 2003?

Last Answer : Learning tax credit for which your family is eligible, you can only take the credit for the amount you owe in taxes.the following website gives more info abt www.nsuok.edu/finaid/incometaxcredit.html.

How can I find out what I owe?

Description : How can I find out what I owe?

Last Answer : You may find out your estimated tax return amount by checking the following websites...www.debtconsolidationcare.com/settlement/money-owe.html or forums.moneysavingexpert.com ... Pure Money Debt-Free Wannabe

Can a tax chart help you to figure out how much money you owe in taxes?

Description : Can a tax chart help you to figure out how much money you owe in taxes?

Last Answer : Yes, a tax chart help you to figure out how much money you owe in taxes. You can find a tax chart online.

Find Out If You Owe Taxes On A Relocation Package?

Description : Find Out If You Owe Taxes On A Relocation Package?

Last Answer : Getting a relocation stipend from an employer can help you offset your moving costs. However, many employees do not realize that they have to pay taxes on a relocation bonus. Depending on how your employer ... doing your taxes less stressful. You do not want to be surprised with a high tax bill.

Is it true that the IRS gives business tax breaks when they move overseas?

Description : Is it true that the IRS gives business tax breaks when they move overseas?

Last Answer : answer:It is a standard business deduction for the move of the job. So, if you moved a job from California to Florida, you can take a business deduction. Nobody cares, or has ever really cared, as ... fired in the US is now on unemployment and the person in another country is not paying US taxes.

All those people who want to be heard: do you think you owe them a hearing?

Description : All those people who want to be heard: do you think you owe them a hearing?

Last Answer : Good question.

What happens to people who owe money to drug dealers?

Description : What happens to people who owe money to drug dealers?

Last Answer : answer:Bad choices, no matter the age, can shorten the lifespan. Drug dealers are not likely to cut them loose. The bad debts with a dealer can become statistics. That is how the dealer collect from the ... I'm sorry you are in the position you are in and sorry for the person you are asking about.

Do you think people with specific beliefs owe an explanation to others?

Description : Do you think people with specific beliefs owe an explanation to others?

Last Answer : answer:If people present something as a fact/truth, I want evidence. If it’s a belief, I’m curious where it comes from but I don’t expect evidence. I may ask, but I won’t care as much as if someone’s trying to tell me something is true without providing evidence.

When you buy a business is it typical for the loan to say if you are late 15 days you owe the entire balance in full?

Description : When you buy a business is it typical for the loan to say if you are late 15 days you owe the entire balance in full?

Last Answer : answer:I know literally nothing about business law. Logically, I have to wonder how it would benefit the seller to sell their business, turn it over to whoever to do the gods know what to it, run it into ... the loan. They don't want it back after the buyer has messed with it; they want their money.

How much do I owe?

Description : How much do I owe?

Last Answer : answer:Nobody here can guess the amount of your payments, how often you make them, or whether your outstanding liability has been accruing interest over the years. We don't even know whether you' ... ve reached the right party, you should get the information quickly. Please let us know what happens.

Confused: Why would I owe taxes?

Description : Confused: Why would I owe taxes?

Last Answer : answer:In my head, glancing at the EZ form and the tax table it looks like you owe $963. I could easily wrong. Hopefully someone who has a pen and paper can do a better calculation for you. I didn't ... it's that simple then it looks like you owe $388. Not sure? What number did you come up with?

Do we all owe "Little Johnny" a collective apology?

Description : Do we all owe "Little Johnny" a collective apology?

Last Answer : answer:Why is Johnny come lately the undesired guest? It’s not Billy… not Jack, not Davey… It’s Johnny who is Rotten. … practically onomatopoeic.

What does the government owe to the descendants of slaves?

Description : What does the government owe to the descendants of slaves?

Last Answer : answer:First, we (the citizens of the US)owe them nothing. If anyone owes anything, it is the descendants of the slave owners (i.e. Thomas Jefferson's great-great-great grandson). But even that is a hard case ... - to be a victim. It's a copout, and dishonest. At worst, it's an excuse for failure.

If a person you owe money to has died, and the deceased DID NOT have a will, do you still have to pay back the loan?

Description : If a person you owe money to has died, and the deceased DID NOT have a will, do you still have to pay back the loan?

Last Answer : You still owe the estate. The court will decide who gets the money but the debt is property of the estate.

What do we owe our friends?

Description : What do we owe our friends?

Last Answer : answer:You don't want to get into enabling behavior of self-destructive acts. So you don't lend money to a friend who is an alcoholic or a drug addict, for example, even though you might freely lend money ... me , and that might be if he / she mistreated someone else that I knew about, or an animal.

Can I immigrate to the UK if I owe student loans in the US?

Description : Can I immigrate to the UK if I owe student loans in the US?

Last Answer : What @FutureMemory is trying to say is that you need a WORK permit, you cannot just go to the UK to look for work. There about 2.5 million unemployed in the UK, looking for work.

What happens to the things you owe money on when you are in jail?

Description : What happens to the things you owe money on when you are in jail?

Last Answer : Pretty sure you’re not given any sort of pass by your creditors if you end up in jail.

If the person I owe money to dies, do I still owe the debt?

Description : If the person I owe money to dies, do I still owe the debt?

Last Answer : I think the money is still owed even after death. This person is probably the executor of the estate, to put a face on things.

Do you owe favours or others owe you ?

Description : Do you owe favours or others owe you ?

Last Answer : I don’t owe nothing to nobody.

Why do think some people still feel like white people owe black people something for what white people did to black peoples ancestors?

Description : Why do think some people still feel like white people owe black people something for what white people did to black peoples ancestors?

Last Answer : answer:No. The past is just that, the past, and true justice means paying once, and only once for a mistake. Paying for the ‘sins of the fathers’ is an archaic and outdated ‘moral’ code.

Do you owe someone an apology?

Description : Do you owe someone an apology?

Last Answer : I generally have to apologize to my wife several times a week. For some reason my ego forbids me from just a straightforward apology, so I just sort of beat around the bush, imply one, then insist it was as good as a real one. Since it isn’t as good as a real apology, this affects me adversely.

Do you think you owe the world or do you believe that the world owes you?

Description : Do you think you owe the world or do you believe that the world owes you?

Last Answer : Why would the world owe you? You are of the world…and by world, do you mean people- or the actual World? You consume so you owe to replace….

Just How Much Attention Do We Owe Our Dogs?

Description : Just How Much Attention Do We Owe Our Dogs?

Last Answer : As long as you love them and they feel loved then that is all that matters, and I am sure they are loved.

Have you ever been in a bind between two people you owe your life to?

Description : Have you ever been in a bind between two people you owe your life to?

Last Answer : May you find some peace around your choices.

Do children owe their parents anything?

Description : Do children owe their parents anything?

Last Answer : More of that same unconditional love and acceptance of what their parents decide to do with their lives after the children are off on their own. In a perfect world the roles would gradually ... and crumble, their children will make sure they have adequate housing, food, clothing and medical care.

Do parents owe their children anything?

Description : Do parents owe their children anything?

Last Answer : You don’t have any children do you?

How much do other countries owe the US?

Description : How much do other countries owe the US?

Last Answer : I dont know, i sadily want to say zero, because of our national debt and it being so out of control. Stupid U.S.

You know how in movies people get in trouble and owe 10s of thousands of dollars?

Description : You know how in movies people get in trouble and owe 10s of thousands of dollars?

Last Answer : I have an idea… no wait… legal. Humm. Do you live in Nevada? Prostitution!

Do children owe their parents?

Description : Do children owe their parents?

Last Answer : Yes, they do. They owe them respect as they owe all people. They also owe them to continue putting effort into making the best of their lives and not waist their parents' investments. There is however no ... and in particular for the ones you care about. We're social animals, after all, aren't we?