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Stephen G.
Stephen G., Sr Income Tax Expert
Category: Tax
Satisfied Customers: 6182
Experience:  Extensive Experience with Tax, Financial & Estate Issues
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I'm an independent contractor who owes back taxes. What

Customer Question

I'm an independent contractor who owes back taxes. What should I do?
Submitted: 10 months ago.
Category: Tax
Expert:  Stephen G. replied 10 months ago.

Well, the first thing you need to do is to get your information together by year and have your returns prepared.

Then, based upon what you actually owe, it will be possible to work out a payment plan with the IRS and or

based upon your financial situation, you may be able to make an "Offer in Compromise" to have your total liability, including penalties & interest settled for less than the amount you owe.

However, the IRS will not consider anything until the delinquent returns are filed.

Customer: replied 10 months ago.
is this a one time Levy to the thired party or on going?
Expert:  Stephen G. replied 10 months ago.

I'm not sure what you mean? Has the IRS filed a levy with your bank or what is the status of the levy?

Expert:  Stephen G. replied 10 months ago.

Just checking in...................

I see that you have had a chance to review my response, but I don't see any follow-up questions?

If you do not have any additional questions, I would appreciate it if you would take a minute to rate my response as that is the only way we receive credit for our work.

Thanks very much,

Steve G.

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