Question: I owed the IRS taxes in 2007 and have set up a payment plan. When I file my 2008 return next year I will be due a refund. Will I get my full refund since I am on a payment plan for my 2007 taxes? Answer: The short answer is no. Whenever you have…
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Too Late to File a Return?
Question: My son did not file a 2006 income tax return. He earned about $12,000 and taxes were withheld from his income. Is it too late for him to file a return? Answer: It is not too late to file a 2006 1040 income tax return. If your son were to owe the IRS for…
What Happens to Taxes After Divorce
Question: My mother and father divorced in 2002 and because they filed Married Filing Jointly they owed over $100,000.00 in taxes to the IRS. My mother does not have a job and has never worked outside of the home. My father agreed to pay all of the taxes in the divorce, but now the IRS…
How Long can the IRS Collect?
Question: I’m paying the IRS tax 1040 for 1997 and 1998. How long do I have to pay theses taxes? Is there a time limit? I thought it was only ten years. Why amd I still paying? Answer: This is a great question. You are correct, that after you have filed your tax returns and…
Getting On Course After Not Filing Taxes Since 2001
Question:I stopped paying taxes in 2001, when my long-time employer bankrupted. I have worked on and off as a sub-contractor since earning about $30K/year but have no assets of value. I’m getting letters from the IRS. What can they do except throw me in jail? Answer: When you owe the IRS money it can be…
Covering Up Your Tax Problems
QUESTION: I owe the IRS a lot of money for the last several years. I simply have not had the money to pay the IRS when I filed my tax return. So far I have been able to hide and ignore them and that has worked, but now they have found me and are starting…