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| *Ostroff, Fair and Company>>>United States Taxes |
I owe the IRS over $6,000 and I'll never be able to pay it. My boss really screwed me. What can I do ? |
I worked for a guy that told me I was going to be pd. under the table. At the end of the year he hit me with a 1099. I owe the IRS over $6,000!!! I am a young single parent and I workmy butt off to make ends meet and now I am in total debt. This will take me years to pay. I already live pay check to pay check. What can I do? I am already on a payment plan but is there any way they can lower the amount I owe? Call the IRS and negotiate payment arrangement plan, there is no other way out of this. Good luck. I'm 14, with no experience in the area, obviously. But I have seen ads on the television for free debt negotiators. Maybe one of them. Talk to a lawyer. If you're a young, single parent and it wasn't a high paid job, I don't see how you could owe that much. Something wasn't calculated right. You can try to get the IRS to settle the debt. I doubt they will be very willing to work with someone who was going to try to stiff them completely by thinking they were getting paid under the table. If you want to get back at the guy you worked for, check out the definitions of employee vs. independent contractor on the IRS website, www.irs.gov. If you should have been classified an employee, the employer should have paid his share of taxes. He will still have to pay them, plus a hefty fine, if the IRS finds that he misclassified employees on purpose. You still have to pay your share, but you can laugh at him. Relax, your'e not the only person that ever got in that situation. IRS will make payment arrangements to let you pay on time based on your ability to pay. You may only be required to pay as little as $10-$20 a month with interest. Call them up, they will send you a form to fill out so they can determine how much you can afford to pay monthly. If you're a single parent you may qualify for child credit of up to $2,000. If you got a 1099 you may also be able to take certian business deductions on Schedule C. I would suggest that you go to a tax professional and seek advice. The estra money you spend may be well wroth it. At the very least go buy a good Tax guide for $15-$30 at a book store which has some great advice on tax savings. Especially for a self-employed person like yourself. Your ONLY option is to set up a payment plan with the IRS and clear the debt. There's no way to reduce the amount of your debt other than to pay it off. You tried to steal/cheat on your taxes, your boss told you they'd help you, then at the last minute they did what was legal and you were left hanging - so THEY really screwed you. Think about it - to find the guy who really screwed you, take a look in the mirror. Yes, it will take years to pay, and be a hardship to you. Learn from it, and play by the rules in the future. |
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