What do i do if i cant pay off taxes ?

Question

I dont have the money to pay off them taxes, and i dont want to go to jail, does anyone know where i can get some help ??

Please help me!!

Answer 1

First of all, don't worry, you will not go to jail, this is actually pretty common and the IRS deals with people everyday in your situation.  The IRS understands that individuals cannot pay and they are willing to work with you to make it easier for you to pay.  The IRS also will even consider taking only a fraction of what you owe and calling it even, that is if you meet certain circumstances.  Below are a few options you have.

1) Offer in compromise - very difficult to obtain, you must be able to show that there is doubt to the amount of tax amount owed, doubt if the amount will ever be collected and collection of the tax would create unfair financial hardship on the individual.  Here is the link to the IRS offer in compromise form: http://www.irs.gov/pub/irs-pdf/f656.pdf (form 656)

2) Installment agreement or partial payment option - These installment agreements allow for the tax payer to pay the entire amount of tax in smaller, more manageable payments over a period of time. To set up one of these agreements you can fill out a form which is available online on the IRS website which is called Form 9465, or you can call the number on the tax bill to receive instructions.  This is a good option if the bill cannot be paid in full, but be aware that there are some fees associated with setting up an installment agreement and it is always best to pay off these debts in full.

3)Bankruptcy - An option, don't do it though, last option available.

4) Get professional help - There are many companies out there that help filling out proper forms and help with representation in order to ensure that you get something that is easier for your current situation.  These companies will normally first give you a free consultation where they can gather some information about your situation and then give you your best options, you don't have any obligation to work with them, but a lot of the times they can help you accomplish  something you wouldn't have been able to do on your own. Here are a couple companies you can consider:

http://www.endthisdebt.com/tax_debt.cfm

http://www.taxdebtaid.com/

Answer 2

Call the IRS to set up a payment plan.

Answer 3

Don'[t panic.  If you can't pay all that you owe, the IRS will set up a payment plan for you.  You aren't going to jail.

Answer 4

lend money from pawn shops. Ask the bank for a second mortgage. or just run away to mexico :P

Answer 5

You aren't going to jail, then IRS won't get their money, instead download Form 9465 Installment Agreement Request. Complete form and make your payment proposal as much as you can afford everymonth.  IRS charges a USER FEE of $105.00 for reqular installment agreement(you mail in your monthly payment) or $52.00 USER FEE if you chose to have your payment withdrawn from your checking amount every month.  Interest and Penalties continue to accrue while you have an installment agreement.  

The minimum payment IRS accept for balance up to $1499.00 is $25.00 per month; $1500-$3000.00 $50.00

anything higher divide amount owed by 60 months.

If you know you can pay the full amount within 30 days, or 60 days or 90 days or 120 days then you can request an extension to pay (no user fee charged) but you must full pay the amount plus P/I by promised date.

Good luck, just don't ignore the IRS, IRS will work with you.