Will the IRS help me? I can tell you from experience that many of you who owe money to Uncle Sam’s collection agency have no way to pay off the debt in full.
What can you do to pay the IRS? Well collection agencies accept payment installment plans, and the IRS is the biggest collection agency in the world, right? The IRS does allow you to setup a payment plan for your debt, but there’s a few things I need to tell you first.
What’s a Streamline? A payment plan with the IRS or a Streamline Payment Agreement can provide assistance, but as with anything that the IRS does, there is a catch. In fact there are several catches.
Since you don’t have much of a choice except to enter into a payment plan with the IRS, there are a few things that you need to expect:
What’s the minimum amount you can pay? Unfortunately it doesn’t work that way. The IRS determines how much you’re going to pay. And how we determine what you will pay is not to your benefit. You will have to commit to the IRS getting to really know you; this is called Full Financial Disclosure. They get to know all of your business and I do mean every little detail. Your entire life is an open book for them. Not just how much money you have, but how you live. Based on that they determine what your “allowable” expenses are for the month, and the rest goes to them.
What are your allowable expenses? They’re not what you think. For example, the IRS doesn’t consider credit card payments as “allowable” they’re luxuries and the IRS won’t take them into account, no matter how much you owe.
If you believe that some of the money you spend is allowable then you have to prove to the IRS that it is necessary. People have the misconception when dealing with us that the burden of proof wasn’t on them. As far as we were concerned, everyone was guilty until proven innocent.
The interest and penalties on your debt continue to get added on, to the tune of 25% in a given year. Depending on the debt owed, and the amount of your payments, you may not even see that debt go down.
If you start making more money, the IRS will know about it and will increase your payment amounts. Your raise that you worked hard for goes straight to Uncle Sam’s pocket.
The IRS wants you to default on your payment plan. The IRS doesn’t want you to be able to keep up your payment plan. I know, because we used to wait in the wings for someone to miss a payment. Why? Because once you default we swoop in like vultures and start the hardcore collection actions. And since you had to tell the IRS all of your financial information, we would know about everything that could be seized, and where you kept it.
It’s the only choice. A payment plan is the only solution for thousands of people in tax debt. It seems almost impossible to come out on top of the payments, but the alternatives such as wage garnishment are much worse. .
Now you have the smoking gun…Use it!
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I’m Richard Close and I was a “Hitman” for the IRS. I took out anyone who owed the IRS money as my father had before me. Now I help thousands of Americans beat Uncle Sam and save thousands of dollars. Tax problems? Contact me and get free tips and techniques to deal with wage and bank seizures and slash tax debt: email me at IRS-Hitman@taxdefensenetwork.com or call 1-888-248-9058. Visit me irs-hitman.blogspot.com or www.taxdefensenetwork.com
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