Saturday, February 6th, 2010

I own a corporation in California, and i owe payroll and federal taxes.Is there any way to negotiate the debt?

Negotiate debt
rafastella asked:


My business has not been doing good, so Im behind on the taxes. What would anyone suggest a way to negotite the debt so the penalties dont keep stacking up?

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4 Responses to “I own a corporation in California, and i owe payroll and federal taxes.Is there any way to negotiate the debt?”

rhymingron Says:
February 6th, 2010 at 5:42 am

I hope not.

live-laugh-love Says:
February 8th, 2010 at 12:13 am

communication is the best call and talk 2 them explain the situatioin ignoring will only make itworse

KnoBettr? Says:
February 11th, 2010 at 3:40 am

sure, go to IRS.gov/resolution, or call the toll-free # in the phone book….just have to file some papers, don’t be afraid to ask…it’s not asking or answering that will get you in more trouble…

Judy Says:
February 11th, 2010 at 10:44 pm

Probably easier to negotiate the federal taxes than payroll taxes. The IRS gets pretty sticky about back payroll taxes, since that’s somebody else’s money that you withheld from their paychecks, then didn’t send in like you were required to.

But calling and asking, putting your situation on the table, before you get any further behind would be a good idea.

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