Questions about how to use the forum?

Visit our new Frequently Asked Questions (FAQs) section.

Welcome, Guest. Please login or register.
Did you miss your activation email?
November 24, 2017, 06:04:12 PM

Login with username, password and session length

Recent

You are no longer alone ...

Author Topic: IRS payment Agreement  (Read 783 times)

Paul3597

  • ~ Gold ~
  • *
  • Posts: 119
  • People helped 15
IRS payment Agreement
« on: May 18, 2017, 12:24:23 PM »
I have two questions one is for this topic - if you owe the IRS money after an Audit (that just happened last year) and you have gone on a payment plan with them to pay it back and that payment plan is in good standing, making all your payments on time, will they still garnish your back-pay for the outstanding balance?
Paul :-)
Life is 10% what happens to you and 90% of how you react to it

Just Me

  • Administrator
  • ~ Platinum ~
  • ****
  • Posts: 9726
  • People helped 617
  • Nice Administrator
Re: IRS payment Agreement
« Reply #1 on: May 18, 2017, 01:31:13 PM »
If you have made the payment arrangements and have not missed any payments, it is highly unlikely they will take your back pay for what you owe them.
Nerve damage in upper and lower extremities. Degenerative Disc Disease, RA.

Hope the size of a mustard seed can produce Faith that can move mountains.

Paul3597

  • ~ Gold ~
  • *
  • Posts: 119
  • People helped 15
Re: IRS payment Agreement
« Reply #2 on: May 18, 2017, 02:11:28 PM »
Well that's good to know - that's it unlikely - thank you for your input Just Me..... I will let you know for sure and post it whenever it arrives.
Paul :-)
Life is 10% what happens to you and 90% of how you react to it

Shortcake

  • ~ Bronze ~
  • *
  • Posts: 35
  • People helped 2
Re: IRS payment Agreement
« Reply #3 on: May 18, 2017, 04:08:11 PM »
We have an outstanding debt with the US Treasury. What our lawyer told us is that the remaining balance will mostly likely be paid out of the back pay even though we have a payment agreement because it's a federal debt. She couldn't say for 100% sure but that was what she told us to expect.
Wife of a disabled vet

constantlyanxious

  • ~ Bronze ~
  • *
  • Posts: 37
  • People helped 1
Re: IRS payment Agreement
« Reply #4 on: May 18, 2017, 04:31:11 PM »
I did an Offer in Compromise... I don't know about back pay but had I filed taxes this past year they'd have taken the refund.  I think you will be fine because at the time the offer/agreement you made with the IRS, you filed based on what you knew and had available at that time.

Good luck!

wornoutworker

  • ~ Gold ~
  • *
  • Posts: 141
  • People helped 14
Re: IRS payment Agreement
« Reply #5 on: May 19, 2017, 08:49:37 AM »
 Yes more than likely. If you have past due federal debt such as student loans or back taxes, the feds treat your windfalls such as earned income credit refunds, income tax refunds, and SSDI back payments as a chance for them to collect a debt even when an installment agreement or temporary forbearance is in place. They want their money.
« Last Edit: May 19, 2017, 08:53:23 AM by wornoutworker »

Paul3597

  • ~ Gold ~
  • *
  • Posts: 119
  • People helped 15
Re: IRS payment Agreement
« Reply #6 on: May 20, 2017, 11:21:31 AM »
constantlyanxious  - I would much prefer to do an Offer in Compromise - but if they snatch their share before I even get it - it totally blows all my chances of bargaining with them, and cutting down on the incredible interest they keep piling on, which my account told me they don't care about giving that up they just want the tax amount. But after 3 years of waiting there are no extra funds to do it now.
Paul :-)
Life is 10% what happens to you and 90% of how you react to it

constantlyanxious

  • ~ Bronze ~
  • *
  • Posts: 37
  • People helped 1
Re: IRS payment Agreement
« Reply #7 on: May 21, 2017, 12:20:18 PM »
I'm sorry I didn't scroll through... you've been approved and just waiting now?  My OIC was for $200 on a $6k debt.  They didn't care that I might make or get money in the future, it was about what I had at the time.  You might want to call the irs and check, that's how I found out before I applied.

Good luck!

 

If this site has helped you in any way please make a donation towards the running of it by clicking below.

Use Paypal by clicking below



:thanx:

Members
Stats
  • Total Posts: 203527
  • Total Topics: 19963
  • Online Today: 75
  • Online Ever: 246
  • (June 25, 2012, 02:04:42 PM)
Users Online

 

Prescription Drugs

Prescription Drug Assistance Programs

Please use the pull down menu below to select a prescription drug. 

This will instantly take you to that post in our forum.