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Old, old back taxes

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M

MagMurfs

Guest
My husband owes federal taxes from 1981,1982,& 1985 totally $36000. The original principal for all 3 years was around $8000. He has been making monthly payments for the past 6 years and never missed one. In the past 11 years he has paid back around $10000. in monthly payments and refunds which were due him, yet the debt has not been decreased one dime. Would it benefit him to retain an attorney? Is there anyway to get rid of this debt? Also, would the IRS be able to garnish any of his pension, social security, or disability income? I'd appreciate any sound advice I could receive. Thank you.
 


L

loku

Guest
Back Taxes

One solution would be for your husband to pay more each month so that part of the payment relates to principal.

If that is not possible, then I do advise him to talk to a tax attorney or CPA to see if an “Offer in Compromise” or any other tactic is applicable to his situation. In some hardship situations, the IRS can reduce the amount due.

Another possiblility is bankruptcy. It sounds like the taxes he owes are eligible for discharge in bankruptcy.
 

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