If you have a repayment agreement with the IRS, it’s a contract. As long as you are making the agreed payments, the probably can’t take it without going to court first.
You could also set up a new checking account at another bank and deposit the money there. The irs has more important things to do than checking your finances on a regular basis.
Keep up to date with the payment plan and don’t worry.
If you owe the IRS money anything you inherit is fair game....if they find out. If you can keep them from finding out put it in gold or something similar in a safe hidden at your house!! Best plan is to get a lawyer to reach a settlement with them. I have heard of people settling for pennies on the dollar!!!
Take it and a bimbo to Los Vegas for a few days ... it will relieve you of the money and more importantly the stress of worrying about keeping the found money.
Can’t answer about the IRS but if you owe money then invest the $20,000 in NVIDIA stock. You will soon be rich enough to pay off all debts.
I did and it went up 4 times from what I paid to buy in just a year and a half.
Solid quarter reports for over 2 years. If you keep the stock for over a year you will pay about 25% in state and federal tax of the profit when you sell. The stocks have been bouncing up and down since March due to that pesky trade war but will go back up soon.
Keep track of the will and the part where it says you inherited the money as the IRS will come to you years later saying you owe money.
Spend it on women, alcohol, and gambling. Then squander the rest.
I normally hate the thought of using them but it's usually the low-lifes that take advantage of them - no reason some of the good guys can't get an occasional bailout.
Also, it may make a difference that the amount owed is in student loans vs. unmet tax returns - good luck.
Pay your fair share and stop whining. If you had done that in the first place, you wouldn’t need our advice.
I’ve always heard that they will negotiate. But, you can’t turn it into cash; banks have to report any withdrawals over about $2500. If you were a rich big shot, or a politician, you could launder it, but us little people don’t get those perks.
I welcome anyone reading this on this thread to freep mail me or post here.
Has anyone filed their return on paper in the recent year or two? I am finding our lovely i.r.s. punishing paper filers like never before. I filed a late 2016 return 12/27/2017. It is now May 2018. I have to wait by the latest letter until 5/24 for them to either issue a refund or send me another letter. Any attempts to get them on the phone result in automated responses.
Is it time for our lawmaker to force the i.r.s to respect us old school filers and taxpayer that don’t trust the internet?