Working on a IRS case today. My client has not had enough withheld from his paycheck over the last several years. As a consequence, he owes a substantial sum to the IRS. I have been working with the IRS to set up a payment plan and we are almost finalized on that plan now. We are preparing what is called the form 433 which outlines the taxpayers income to present to the IRS.
The first set was to stop the IRS garnishment. Once we stopped it, we were able to get a hold on all collection efforts while we got the form 433 prepared and got him on a payment plan.
Sometimes, if you do not earn enough money, the payment plan is not the best option. Sometimes, the best option is to be placed on non-collectable status, show a hardship, do an offer in compromise.
Any one of these options might be best for you. Make sure you consult with an attorney before you jump into any one option. Do what’s best for you.
