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Ask Asad Rahman Your Own Question
Asad Rahman
Asad Rahman, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 2183
Experience:  Practicing Attorney with 10 years experience
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I used some 401-K money to start a business that created 15

Customer Question

I used some 401-K money to start a business that created 15 jobs for the poorest county in NC. My tax bill for 2013 was about $52000 and I have been making payments on it ever since. I have a suspicion that the penalties are not being calculated correctly and also was wondering if there might be any way to get relief from some of the tax bill because of the jobs we created?
JA: Was this discussed with a manager, HR, or an attorney? Has anything been filed or reported?
Customer: I wrote a letter to the IRS after the filing. They never responded. no attorneys
JA: Anything else you want the lawyer to know before I connect you?
Customer: I have paid at least $15648 against the $52261 over the last two years and my current balance is $47771. Doesn't seem right to me
Submitted: 2 months ago.
Category: Consumer Protection Law
Expert:  Asad Rahman replied 2 months ago.

I am sorry to hear that. I am not aware of any sort of tax deduction available for your business but you might want to talk to small business reps in the city or county government. As for your tax bill, sometimes they will agree to reduce the penalties or interest. It is just a matter of trying to negotiate. You may want to retain an attorney who has experience with the IRS.