Hi Reddit - need some advice here. Long story short I'm in the middle of filing and offer in compromise with the IRS for tax debt that's a little less than $50,000 (was self employed, made a lot the first year and all went to hell after that). Currently I'm making a little less than $2500 a month and if I did my calculations right my expenses are ~$2300. I know I'll have to prove some of those expenses since they're more than the allowed amount calculated by the IRS.
My question is - whats the general suggested percentage or amount you should be aiming for for acceptance?
I appreciate everyone taking the time to read/answer this post, hopefully I've provided enough to get the ball rolling.
Edit: After reading some other posts I realize I'm going to get a lot of questions as to why I didn't pay in the first place. I've been on my own since I was 17, and I was 19 when I made all the money I currently owe on. I knew NOTHING about taxes let alone setting half of my money aside to pay them. By the time I got notices from the IRS I had no idea how much I owed and the number scared me. I looked up a payment plan option but when I saw I had to pay $500+ per month I knew I wouldn't be able to afford that. Furthermore my car was repossessed last year due to me buying a car with a $550 a month payment. I bought a different car outright earlier this year to avoid payments and I'm finally getting my finances under control which leads me to this post. Just seems like every time I get a big chunk of money to pay something towards it the rug gets ripped out from under me.
Submitted October 08, 2018 at 12:12AM by ninjabanana1234 https://ift.tt/2zXH4ex
