California --
Have received some excellent and helpful advice from this forum. Circumstances have slightly changed. Here's the situation:
I have been out of the local workforce for a few years. I owe about 90 grand in state and federal back taxes. Both have filed liens. I am looking to clean up my act, but am virtually penniless. However, I anticipate making a 6-8 grand a month within the next couple of months. I was hoping to be a 1099 contractor with my new employer, but that is not possible and I'm afraid virtually every dime I make will get taken. Looking for the best strategy to buy myself some time from the State and IRS before any wage garnishment begins. I have zero records. As I have been overseas, I can't document my expenses. i am not even sure what they will be as I'm living with friends for a few weeks until paychecks begin.
I realize that to enter into a successful installment agreement or offer in compromise I may need to have far more substantiation than is possible and I very well may simply not qualify. Since liens have already gone into effect, if I get up to date with my past tax returns, and can salvage a few dollars for professional guidance in the next six weeks, is there a possibility that while my advisor is filing for an installment or offer in compromise that there will be no wage garnishments even though we both know I won't get approved?
In other words, is there a strategic way to stall for some time while I figure out how to simply pay off the taxes or find another 1099 job? 6 months would do it...
Thanks!
Have received some excellent and helpful advice from this forum. Circumstances have slightly changed. Here's the situation:
I have been out of the local workforce for a few years. I owe about 90 grand in state and federal back taxes. Both have filed liens. I am looking to clean up my act, but am virtually penniless. However, I anticipate making a 6-8 grand a month within the next couple of months. I was hoping to be a 1099 contractor with my new employer, but that is not possible and I'm afraid virtually every dime I make will get taken. Looking for the best strategy to buy myself some time from the State and IRS before any wage garnishment begins. I have zero records. As I have been overseas, I can't document my expenses. i am not even sure what they will be as I'm living with friends for a few weeks until paychecks begin.
I realize that to enter into a successful installment agreement or offer in compromise I may need to have far more substantiation than is possible and I very well may simply not qualify. Since liens have already gone into effect, if I get up to date with my past tax returns, and can salvage a few dollars for professional guidance in the next six weeks, is there a possibility that while my advisor is filing for an installment or offer in compromise that there will be no wage garnishments even though we both know I won't get approved?
In other words, is there a strategic way to stall for some time while I figure out how to simply pay off the taxes or find another 1099 job? 6 months would do it...
Thanks!