What is the name of your state (only U.S. law)? Texas
I have about $3000 I owe in income tax from 2013 taxes, no other back taxes. I am trying to figure the best way to get those taxes reduced and set up a payment plan of some sort. How should I go about handling this and can I do it myself without hiring a pro?
Did a small amount of research and found out about offer in compromise but I don't know if that is always the best route to take. I also saw that rules changes now have a 12 month rule(12 months x disposable income) payoff option as opposed to 48 months... can I go about setting this up myself and how do I calculate and prove what is my disposable income... can I still set up a payment plan for that 12xDI amount or do you only get a certain amount of time to pay it in full?
With all my other bills, expenses, obligations, I can really only afford to pay about $50 a month to the IRS so I would love to prove my disposable at that amount. Am I correct that if I can prove $50 a month DI that I would have to pay 12x$50 and get my taxes reduce to $600?
Any answers and advice on how to start and what to avoid doing is appreciated.
I have about $3000 I owe in income tax from 2013 taxes, no other back taxes. I am trying to figure the best way to get those taxes reduced and set up a payment plan of some sort. How should I go about handling this and can I do it myself without hiring a pro?
Did a small amount of research and found out about offer in compromise but I don't know if that is always the best route to take. I also saw that rules changes now have a 12 month rule(12 months x disposable income) payoff option as opposed to 48 months... can I go about setting this up myself and how do I calculate and prove what is my disposable income... can I still set up a payment plan for that 12xDI amount or do you only get a certain amount of time to pay it in full?
With all my other bills, expenses, obligations, I can really only afford to pay about $50 a month to the IRS so I would love to prove my disposable at that amount. Am I correct that if I can prove $50 a month DI that I would have to pay 12x$50 and get my taxes reduce to $600?
Any answers and advice on how to start and what to avoid doing is appreciated.