NOTE: If you
are unable to pay your taxes, you should consult with a
professional who handles IRS collection matters. You should
discuss your situation to find out an appropriate long term
course of action. In some instances, simply entering into an
installment agreement with the IRS may be the best solution.
However, any plan of action must be realistic. For example, if
the installment payments are too large so as cause you to fail
to pay enough in current period taxes, then you are setting
yourself up for defaulting the installment payment agreement.
That could result in levy and seizure in the future. Depending
on your specific facts and circumstances (including: financial
condition, health, future earning potential, ability to borrow,
equity etc...) you may wish to consider an Offer in Compromise,
designated payments, bankruptcy, or other options. Please
give me a call. There is no charge for an initial
consultation. I look forward to hearing from you.