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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 16576
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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Have a client that just got audited by the IRS, she owes 27

Customer Question

have a client that just got audited by the IRS , she owes 27 K but she does not have any money to paid , what she can do she just own a mobile home and thats it is there any way to reduce that debt ?
Submitted: 1 year ago.
Category: Finance
Expert:  Megan C replied 1 year ago.

Thank you for your question. She has several options, which are outlined on the Taxpayer advocate site, here:

http://www.taxpayeradvocate.irs.gov/get-help/i-can-t-pay-my-taxes?taxissue=333

Please let me know if you need anything additional. If not, please rate positive.

Expert:  Rakhi Vasavada replied 1 year ago.

Dear Friend,

Hello and welcome. Thank you for providing an opportunity to assist you.

There are couple of ways which you need to explore locally with a tax attorney. I believe you are the attorney yourself and if not, then you can reach out to one locally who can work with you.

There are couple of ways out such as seeking a low settlement on some grounds such as inability to pay (genuine inability), forgiveness of debt, filing of bankruptcy, etc.

I would refer you to the following link which is an excellent informational resource which will be of help to you.

http://taxhelponline.com/tax-help-now/quick-solutions/forgiveness-of-tax-debt.html

I am sure this would help.

You may please leave a positive rating if this helps as this is the only way we are compensated for assisting you. Alternatively, you may revert back with a reply if you need further assistance or if I have missed out on any aspect of your question.

Warm Regards,

Expert:  Megan C replied 1 year ago.

The best thing for them to do is to contact the Taxpayer advocate themselves --

If they are not collectible, they can be put in currently not collectible status, although if they come into some money they will have to pay it off.

Nothing is fast - dealing with the IRS directly is always preferred to using a third party service. Local IRS offices can also be a good resource.