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Mary Graham
Mary Graham,
Category: Bankruptcy Law
Satisfied Customers: 355
Experience:  Attorney at Hudson & Graham
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What is the point of setting up payment plans with the irs

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what is the point of setting up payment plans with the irs if the interest and penalties still accrue while I pay it off....?

Without a payment plan you've got an IRS lien. The IRS can garnish your wages and seize your property. IRS liens can't be discharged in bankruptcy. The IRS got Capone. You want to be working with the IRS - not trying to evade them. That's the point of a payment plan.

 

There are services out there in the business of negotiating tax liens, if you've got a lump sum to apply to the lien, but be careful because they're not all reputable.

 

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