Quote:
Originally Posted by Rack Man
They are not forcing the sale of it (yet)...but the "negotiated" amount I need to pay has to be a lump sum amount ($32k).....I have 90 days to come up with the payment
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I like the bald chicken analogy, and that's what I'm going for here.
The IRS will have no idea how much that truck is worth.
Sell it for $1,000 and then show you have no more assets to collect on.
Just like everything in the world, when the Government sees you have no money, or that your expenses exceed your income, they almost always leave you alone.
The tax attorney I worked for got people delayed and deferred payment plans who made hundreds of thousands of dollars. We hardly ever had to do a lump sum payment because they showed a massive amount of payments which sapped the income...
Anyway, I hope your Attorney and CPA are taking good care of you.