After getting the requested paperwork to my assigned IRS agent last week, I was able to get him on the phone today for a little chat. The good news is that I must have done all my paperwork right, because that didn’t come up at all. The bad news is that I may have to go in for an official “interview”, but I was going to volunteer to go in and chat anyway, so I guess it’s not too bad.
We discussed the current business financial situation, and he gave me a rough estimate on the total due (with penalties and interest).
The number? $22,000. Pretty much exactly what I had estimated myself. I pressed about about payment plan lengths, and it sounds like I could maybe max out a plan for 24 months. That would be around $916 a month. I think I could do that. Depending on how a few things go business wise this month, it could work.
All in all, if you have to talk to the IRS…my best tip? Use your agents name alot (he seemed to be very personable when I acted personable), and be 100% honest. I’m not trying to hide anything, in fact, I’m being incredibly clear that I don’t have $22,000 just lying around, but I do have the ability to repay that if given some flexibility. So, be honest and be nice! Seems to be working for me so far…
I was pretty nervous for the call today, but once we got chatting it faded away very quickly.
In other “talking news”….I talked to the girl that I have been wanting to casually pursue…probably wouldn’t have done it without my readers, umm, not-so-subtle hints that I was being a wimp. So, thanks. : ) I don’t know if anything will come of this (or that I even want anything too), but it was a good confidence booster. If you care about little tidbits like that, follow my twitter feed.
{ 8 comments… read them below or add one }
Hey Debt Kid:
This sounds great…. no one wants to fool with the IRS when it comes to anything.
I’m interested in starting a PF blog… I have a lot to share – especially when it comes to inheriting $$ and other issues. Any ideas on how I can do this? Would like to talk more if possible.
SG
Hi DK:
If you want to e-mail me, please use the gmail account referenced with this post…. I never check the e-mail I’ve been using because it gets so much spam and junk.
Thanks
So there is no flexibility past 24 months? What happens if business goes down and you can’t make that commitment? I understand they want to get their money back, but putting you in a situation where you would default isn’t good either.
Just my opinion…
What rate are they giving you in terms of letting you pay it off over time? Is it reasonable?
@Smart Girl — I can also help you set up a personal finance blog. Let me know if I can help.
Be nice and firm is the best approach to just about every type of situation.
Wow, that’s FANTASTIC! Two dreaded things accomplished in one week! You’ve totally inspired me to stopping putting off a couple of things that have been stressing me out. There is no greater feeling than crossing something off your list that was weighing heavily.
I really hope you get your payment plan. The payment might seem difficult to swing now but remember you’re getting more and more successful everyday so things will only get easier!
So, do tell. Did you ask her out? Come on… spill….
@ Karen – No, no, no asking out. Just chatting. We need to interact a bit more before I would want to ask her out.
Hey
I was reading what you said about the IRS being nice once you were nice,
DON’T BE FOOLED, My father was nice he had back taxes due, and was very forthcoming, he put 6 kids through college and ignored his taxes, NOt the smartest I know…9 Felony counts later and owing the feds 100,000 dollars.
Get yourself the BEST tax lawyer you can DO NOT TRUST THE IRS!!!!!
Do Not Kid yourself they are NOT YOUR FRIEND!!!!!! He is now 75 years old Thank God he didn’t go to jail, he probably would have done himself in before prison. Nicest man you could ever meet. He is still paying the government 9 years later….DO NOT TRUST THEM!!!