Advertisement

Quick ‘Fixes’ for Tax Debt Often Dangerous

Share

Regarding “IRS Backing Off Making Deals” (Personal Finance) and “Be Wary if a Firm Says It Can ‘Eliminate’ Your Tax Debt” (Money Talk), both Oct. 31:

Right on target for both columns.

I have been in the trenches for more than 38 years -- 27 years collecting taxes for the IRS and 11 years in private practice.

I am contacted every day by individuals seeking a small- percentage settlement of their tax debt to both the IRS and the California Franchise Tax Board.

Advertisement

After we grind some numbers, I give the majority of these folks the bad news that they don’t qualify for an offer.

I suggest they pay their taxes rather than waste their money on my fees for an offer that will surely be rejected.

I’m certain that some of these poor souls will find some “offer mill” that will promise them the world but deliver nothing.

This, unfortunately, occurs after they have been relieved of substantial fees chasing a dream. A very expensive lesson to be learned.

John A. Knight

Woodland Hills

Advertisement