Yup, just like the President of the United States and the CEO of Amazon and big business after big business after big business after big business...Then the middle class has to pay for them and small businesses sometimes to survive have to at times not pay up front. Probably like this guy. But billionaire? Oh, no, they don't need to at all. In fact, let's give them more tax cuts and immediate bailouts when the economy tanks. USA. You are just a pawn in the game.
@@cactaceous CEO's have to pay individual income tax if they receive compensation. Corporate profits get passed down to the shareholders aka you and me so it's nice not to get taxed twice on that.
@@insideoutsideupsidedown2218 Lol I know. I'm just really bored today. Wanted to see if there's a specific deduction or credit of tax law he doesn't like or if he has no clue what he's talking about.
I did tooooo! Just made the last pymt today actually. I owed about $2500 to those suckas. ($1600 from 2021, $882 from 2022). I didn't realize that late penalties were added daily.🫠🫠. I'm over it. Now to conquer the rest of these students loans + medical debt.
Chris is perhaps the biggest yes guy of them all. I feel others at least add some input but with Chris, he basically repeats what Dave said and maybe a line or two about being intentional (smh)
The IRS will tack on penalties and late fees to the late taxes, but after you pay back the principal your accountant can write a letter requesting a refund of the penalties and late fees and the IRS generally gives those back. Call around your city to find a CPA who's experienced in this type of problem--it's well worth the money and something a layperson couldn't do on their own.
Elizabeth I paid principle and fees fines for my moms irs debt and then request penalty relief. They received request and am still waiting for reply 2 years later
@@engalvan My CPA put "key words" into the request letter that triggered the IRS computer to kick my case out for refund. I don't remember what the words were and the letter looked a bit sloppy so I was doubtful but a refund came fairly quickly. She said she learned about this in one of her continuing education classes. This is why a skilled accountant is important; they can save much more than they cost and keep you out of trouble.
Precisely like dave said, they just make up an amount for non filings and its usually obscene, then they throw on fees. My CPA filed a few years of unfiled taxes and got the amount due down to like 10% of their made up assessment. There's sometimes amnesty programs popping up too. I would think there could be more amnesty upcoming as they get desperate to collect revenue.
Let's Talk Personal Finance that’s what happens if you run a business and avoid paying taxes. I know a friend who pays more but obviously he files his taxes every year
As a tax preparer for the past two years, I hear some people say, "Oh, I didn't file that year because I knew I would owe." Come on people! Either hire people like me or buy some software, just do it! Putting it off only accrues interest. I heard a guy lost his house to the IRS because he didn't file properly for 5 years.
I’m a CPA and my advice is to hire a good CPA who is an expert in dealing with the IRS and filing an amended return before hiring a tax attorney. A tax attorney charges more and what you need right now is to file the amended return and correspond with the IRS with the help of a great accountant.
U should have never done taxes on your own if you make $200k or more a year.the more money u make the more difficult the filing taxes become.hire a accountant and see the reviews before hiring.also hire a tax attorney to help you with this mess.
@@queen.kristal8395 I know that it's not hard. I am familiar with state tax (my previous state) and federal tax and social security self employed tax. It's different but you can learn it if you take the time. I don't know how to do the depreciation which is why I said not real estate income, it's probably not too bad I just can't speak to it.
I owe 80k to the IRS. No chance of paying. I cut my income to the minimum to survive. No calls since the pandemic started. I'm just hoping for negotiations because I plan on staying a minimalist for the rest of my life!
The IRS isn't always right , either. Some decades ago they denied an interest deduction on our joint tax return. It was interest on a home loan in my wife's name (we kept properties in separate names as we were both self employed and were guarding against having any possible liability claims going after all of our assets.) The IRS never looked for a statement of interest paid from the bank in her name and social security number, only in mine. Fortunately she was a practicing tax attorney at he time and a CPA -- but it still took over a year to get them to admit their mistake. They sent us multiple letters demanding payment.
My first choice would be a tax attorney for that kind of debt. But if you’re already working with a CPA or an enrolled agent that’s fine. You have to amend the taxes first. Try to get the debt to 50k then get on a payment plan. Make sure to keep your taxes, including estimated and the payment plan current. If the payment plan isn’t feasible you might consider an offer in compromise. It’s not a sure thing but if they grant it, you’d pretty much get a fresh start. Be warned it’s a low acceptance rate and you have to come up with the payment of the offer.
I've found the IRS to be reasonable and even helpful, but not the automatic letters that the computer generates or the low-level flunky who'll call you first. But when you get to a real Revenue Agent with knowledge of the tax law and power to act it'll be different.
Even not paying your city or occupational taxes penalizes you. I didn't know there was occupational taxes until a few years later. They add interest every month for every year you are behind.
I messed myself up by waiting three years to file and also, I filed my taxes myself. Years later, I went to a good tax professional and she looked at those past taxes returns and had me file an amendment for 3 years. I made so many mistakes by filing myself. But after one amendment was processed, I went from owning $7,000 for that year, to getting back $250 for that year. Lol I have another year's amendment currently processing and I can't wait until it's corrected. Thank God I had a good tax professional look at my past years taxes and file amendments only behalf. I will NEVER do my own taxes again. Big mistake.
I am always confused AF when people avoid taxes?!? I have two uncles (one on each side of my fam) who just thought they could not pay taxes for 6 years. Can an idiot-...i mean...individual who has done this explain WHY you wouldn’t pay taxes in the past?!? Do you think the IRS won’t find out orr???
Same reason why some people work cash only...under the table. And the messed up part is , they wait till you're waist deep in it to tell you owe I'm sure.
The IRS owes me money so I've been sending them quarterly statements with a bunch of made up penalties and interest. I would ask them to take Dave's advice and hire a good tax attorney.
I’ll never understand why people try to talk over Dave and give more information than is necessary or blather on about useless information. Be succinct and get to the point. They are calling him for help so let the man speak. Smh.
I inherited some money from my family that passed away & honestly didn’t know I had to pay taxes, no one mentioned it to me…I felt so stupid & just want to say always assume you have to pay taxes on everything!!
For some types of income the tax code can be very complicated. Like your tax preparer taking "grey area" deductions that the IRS decides you can't deduct. Then you owe a big bill to the IRS with interest and penalties.
The best advice I can give is: Get a certified CPA or Tax advisor to help you file. The money you pay them is an investment, learn from them on how to file, learn how to build your fiscal Balance Sheet and get your income right on the forms. After that, you can do it by yourself and just check proof it with your personal accountant. Good luck.
Perry Lin to be honest, i was well connected. Someone told me about a hiring surge and i jumped on it. The government hires a lot of people though. Look on usajobs. But my job is very engaging and pays very well. Big Problem with the gov is that dumb people dont get fired
Never take tax advice from a guy who filed for bankruptcy for millions of dollars. You don't need a tax attorney. You can get a tax professional like a CPA who specializes in individual tax returns or an Enrolled Agent (EA). You would fill an IRS Form 2848 for Power of Attorney and Declaration of Representative to authorize an individual to represent you before the IRS. I seriously doubt that an amended return (1040X) will wipe out this guys balance to zero because it sounds like a Schedule C sole proprietor business and he didn't report all of his gross income or can substantiate his expenses. A lot of the calls on the Dave Ramsey show are staged and not real people or situations.
He ran a business and didn't pay his taxes.
He probably needs to use the available deductions.
Yup, just like the President of the United States and the CEO of Amazon and big business after big business after big business after big business...Then the middle class has to pay for them and small businesses sometimes to survive have to at times not pay up front. Probably like this guy. But billionaire? Oh, no, they don't need to at all. In fact, let's give them more tax cuts and immediate bailouts when the economy tanks. USA. You are just a pawn in the game.
@@cactaceous CEO's have to pay individual income tax if they receive compensation. Corporate profits get passed down to the shareholders aka you and me so it's nice not to get taxed twice on that.
Jacob Greenstone your responding to someone who is just parroting MSDNC and has no clue what it takes to run a business.
@@insideoutsideupsidedown2218 Lol I know. I'm just really bored today. Wanted to see if there's a specific deduction or credit of tax law he doesn't like or if he has no clue what he's talking about.
Just wiped my debt with the IRS this month!!!! That’s definitely a load off my shoulders!
congratulations!!!
I did tooooo! Just made the last pymt today actually. I owed about $2500 to those suckas. ($1600 from 2021, $882 from 2022). I didn't realize that late penalties were added daily.🫠🫠. I'm over it. Now to conquer the rest of these students loans + medical debt.
Even the joker is scared of the IRS!
I’m crazy enough to take on Batman but the IRS?! Noooo thank you!
I owe the irs $1600 and I can’t sleep lol
Get it paid, you are small potatoes, just get it done
steel united 111, you should be able to pay that off, IN your sleep. Lol but seriously, small amount to owe, as long as you attack it.
Beans and rice kiddo!
Get it done before the interest eat you alive! Besides the IRS could garnish your wages so they’ll try to get every little penny out of you.
Don't let the IRS get more. They are competent in what they do, don't believe any others that say otherwise.
Chris Hogan did a great job of repeating what Dave said. It's so helpful to have him there.
perkol8ter that’s what all of Dave’s personalities do. Yes people. They never disagree with him, ever.
Chris is perhaps the biggest yes guy of them all. I feel others at least add some input but with Chris, he basically repeats what Dave said and maybe a line or two about being intentional (smh)
@@christineandrews6993 LOL yes to "being intentional"
The IRS will tack on penalties and late fees to the late taxes, but after you pay back the principal your accountant can write a letter requesting a refund of the penalties and late fees and the IRS generally gives those back. Call around your city to find a CPA who's experienced in this type of problem--it's well worth the money and something a layperson couldn't do on their own.
Elizabeth I paid principle and fees fines for my moms irs debt and then request penalty relief. They received request and am still waiting for reply 2 years later
Great advice!
@@engalvan My CPA put "key words" into the request letter that triggered the IRS computer to kick my case out for refund. I don't remember what the words were and the letter looked a bit sloppy so I was doubtful but a refund came fairly quickly. She said she learned about this in one of her continuing education classes. This is why a skilled accountant is important; they can save much more than they cost and keep you out of trouble.
I didn't know you could request a refund of late fees and penalties, good to know 👍
I guess he didn't get a stimulus check
$94 000 is a ridiculous amount of money to owe to the IRS😂😭
He probably was over leveraged and couldn’t catch up to his liabities in his business and couldn’t pay the taxes
Precisely like dave said, they just make up an amount for non filings and its usually obscene, then they throw on fees. My CPA filed a few years of unfiled taxes and got the amount due down to like 10% of their made up assessment. There's sometimes amnesty programs popping up too. I would think there could be more amnesty upcoming as they get desperate to collect revenue.
Let's Talk Personal Finance that’s what happens if you run a business and avoid paying taxes. I know a friend who pays more but obviously he files his taxes every year
I’d be on a plane out of the country so fast lol
WildBoy Liv Yes, avoid your real problems and run like a coward to a different country. Seems like such a manly way to handle a situation.
As a tax preparer for the past two years, I hear some people say, "Oh, I didn't file that year because I knew I would owe." Come on people! Either hire people like me or buy some software, just do it! Putting it off only accrues interest. I heard a guy lost his house to the IRS because he didn't file properly for 5 years.
Also a bad tax preparer can mess you up.
I’m a CPA and my advice is to hire a good CPA who is an expert in dealing with the IRS and filing an amended return before hiring a tax attorney. A tax attorney charges more and what you need right now is to file the amended return and correspond with the IRS with the help of a great accountant.
Owing the IRS is no joke, get a great tax professional
We watched the video
I agree. Unfortunately, I know.
Jail Time ??????
No, on jail time. They want the money, not sending you to federal prison where they end up spending money on you.
@@ramonuy5567 stripped away anything you have till you pay back or till you're dead. Adding up on interest on your debt.
U should have never done taxes on your own if you make $200k or more a year.the more money u make the more difficult the filing taxes become.hire a accountant and see the reviews before hiring.also hire a tax attorney to help you with this mess.
It's not that hard, it's just math. Not hard to calculate assuming you don't have rental properties income or something complicated.
K S it doesn’t matter what type of income it is.when u have a business you get tax differently than a regular job.
@@queen.kristal8395 I know that it's not hard. I am familiar with state tax (my previous state) and federal tax and social security self employed tax. It's different but you can learn it if you take the time. I don't know how to do the depreciation which is why I said not real estate income, it's probably not too bad I just can't speak to it.
What if you are a CPA and earn more than 200k a yr?
Or what if you earn $199,999 a year?
dgr8oneme lol if your a cpa u can still do your own taxes
I hate it when people just keep talking and talking dammm lol
Wow, I don't ever want to be in that position to own the IRS. 😳
👍 Thank you for sharing
Fun fact:
Many young pro athletes owe money to the IRS.
it’s mainly because they didn’t know Uncle Sam needs his cut of your earned income.
Shaq had this problem.
Like which people
I don’t need to tell you. Just it up. There are countless examples including famous and well known athletes. Or just watch 30 for 30 broke.
@@sydmaker4115 Shaq O'Neil lectures about this.
Dave Ramsey always giving golden advice! 🔥
Huge Fan!!!
Owing the IRS is the worst kinda debt, you'll get locked up if you don't pay.
Nah! Owing me money is much worse than that!
😳😳😳
One thing both political parties can agree upon is we hate the IRS.
you sure about that?
I remember when Ted Cruz was talking about getting Rid of the IRS and they called him an evil man..... so I unfortunately disagree
LOL 😂
The Democrats would do anything to raise taxes.
Aren’t the left always trying the sic the IRS on the wealthy?
Takes render unto Caesar to a whole new level of irony
Lol
Exactly and Caesar is going to get his one way or the other and it will be brutal!!!!
He was like: i'm Caesar!! oh wait, who's Caesar??? Jesussshelppppp
Yeah, like repaving all,the roads out of Rome into the now defunct empire
Hilarious 😂
I owe 80k to the IRS. No chance of paying. I cut my income to the minimum to survive. No calls since the pandemic started. I'm just hoping for negotiations because I plan on staying a minimalist for the rest of my life!
How did you end up like that?
@@rminitials 3 year audit. Goosed up my deductions
Deliver pizzas..... little caesars style lol
Lol
Gold Joshua..... G O L D.
For a 100k, needs to deliver more than that.
I owed the IRS $1200. Back in 1990.
I pulled out my credit card and paid them.
LoL.
I’ve always wondered but does Dave mute the call at the halfway point or just hang up? Lol
Yup he does😂. I noticed him pushing this button when he’s done listening to folks
jtim83 probably just muting/putting them on hold because sometimes he asks the caller to stay on the line because they got something for them
Every man wishes he had that mute/hang-up button. Or is it just me ?
I'm, pretty sure it just mutes their voice.
He mutes them. I’ve seen at least one video where he brought them back to ask a question.
The IRS isn't always right , either. Some decades ago they denied an interest deduction on our joint tax return. It was interest on a home loan in my wife's name (we kept properties in separate names as we were both self employed and were guarding against having any possible liability claims going after all of our assets.) The IRS never looked for a statement of interest paid from the bank in her name and social security number, only in mine. Fortunately she was a practicing tax attorney at he time and a CPA -- but it still took over a year to get them to admit their mistake. They sent us multiple letters demanding payment.
Wow SuperWife to the rescue lol what do you do for a living?
My first choice would be a tax attorney for that kind of debt. But if you’re already working with a CPA or an enrolled agent that’s fine. You have to amend the taxes first. Try to get the debt to 50k then get on a payment plan. Make sure to keep your taxes, including estimated and the payment plan current. If the payment plan isn’t feasible you might consider an offer in compromise. It’s not a sure thing but if they grant it, you’d pretty much get a fresh start. Be warned it’s a low acceptance rate and you have to come up with the payment of the offer.
I've found the IRS to be reasonable and even helpful, but not the automatic letters that the computer generates or the low-level flunky who'll call you first. But when you get to a real Revenue Agent with knowledge of the tax law and power to act it'll be different.
WOW!!! Just WOW!
KGB oh I mean the IRS wants 94k from this guy but Hank Paulson made 200 million and paid no taxes what a joke.
Even not paying your city or occupational taxes penalizes you. I didn't know there was occupational taxes until a few years later. They add interest every month for every year you are behind.
I messed myself up by waiting three years to file and also, I filed my taxes myself. Years later, I went to a good tax professional and she looked at those past taxes returns and had me file an amendment for 3 years. I made so many mistakes by filing myself. But after one amendment was processed, I went from owning $7,000 for that year, to getting back $250 for that year. Lol I have another year's amendment currently processing and I can't wait until it's corrected. Thank God I had a good tax professional look at my past years taxes and file amendments only behalf. I will NEVER do my own taxes again. Big mistake.
I am always confused AF when people avoid taxes?!? I have two uncles (one on each side of my fam) who just thought they could not pay taxes for 6 years. Can an idiot-...i mean...individual who has done this explain WHY you wouldn’t pay taxes in the past?!? Do you think the IRS won’t find out orr???
Same reason why some people work cash only...under the table. And the messed up part is , they wait till you're waist deep in it to tell you owe I'm sure.
@Sir We Are About to Die I believe I seen a comment on RUclips along the lines of if you use a federal note, you are then required to pay tax on it.
In this PDF, is an explanation of IRS authority to collect taxes is on page 1 "Contention: The filing of a tax return is voluntary."
@Sir We Are About to Die well we do have representation, so quoting the revolutionists doesn't make sense...
I had a neighbor who told me he hasn’t paid taxes in 40yrs.
I said “better u than me.”
If this was my client, he'd be off the phone with me and on the phone with one of my tax people that I'm networked with lol.
How about pay your legally required estimated payments just like the rest of us have withheld from our paychecks,
@Sir We Are About to Die You are absolutely right!
You are completely ignorant.
Sovereign citizen has entered the chat.
Sir We Are About to Die Income tax was brought in after WW1 to pay for the war but once the government had the money rolling it they never stopped
So without the income how does the government build the infrastructure you need?
@Austin Duke Show a source or it's not true.
You own tge IRS . You run and pay them
I owe both the IRS and CA a total of $65,000 this september.
I hope u are rich
The IRS owes me money so I've been sending them quarterly statements with a bunch of made up penalties and interest. I would ask them to take Dave's advice and hire a good tax attorney.
It's kind of funny to push someone's buttons but the KGB.😀
😂
I’ll never understand why people try to talk over Dave and give more information than is necessary or blather on about useless information. Be succinct and get to the point. They are calling him for help so let the man speak. Smh.
he said he was nervous in the beginning
Is this inception?? Seeing a Dave Ramsey add on a Dave Ramsey video. I wasn't sure if RUclips was glitching or if it was really an add. Haha.
It's ad mom
I inherited some money from my family that passed away & honestly didn’t know I had to pay taxes, no one mentioned it to me…I felt so stupid & just want to say always assume you have to pay taxes on everything!!
Cant relate to people that didnt pay taxes i paid mine. He knew what he was doing all people i know that had this problem knew better
For some types of income the tax code can be very complicated. Like your tax preparer taking "grey area" deductions that the IRS decides you can't deduct. Then you owe a big bill to the IRS with interest and penalties.
The best advice I can give is: Get a certified CPA or Tax advisor to help you file. The money you pay them is an investment, learn from them on how to file, learn how to build your fiscal Balance Sheet and get your income right on the forms. After that, you can do it by yourself and just check proof it with your personal accountant. Good luck.
Lol i work for the IRS and i wish i was on this guys case
Perry Lin to be honest, i was well connected. Someone told me about a hiring surge and i jumped on it. The government hires a lot of people though. Look on usajobs. But my job is very engaging and pays very well. Big Problem with the gov is that dumb people dont get fired
What would you do if you were on his case? Lol
@@thelastmemphian Requirements?
You of course know then about the taxpayer advocates office within the IRS?
@Sir We Are About to Die Those aren't requirements, those actually violate discrimination laws. Are you an employee with the Revenue Service?
Dang! It shows me how blessed I am with theses calls coming in
Nobody screws as hard as the government
This dude got out of control
Chris you should be the voice in documentaries
Sold his car at CarMax for 6500 means it was probably worth 12000
8/11/20....Obviously this nervous/neurotic caller is NOT the brightest bulb in the chandelier.....
Where is Chris ?
Good video
If i owed 94k to the IRS i’d just fake my death and move to Thailand
Who doesn’t like ladyboys right?
@@edwardlopez9061 don't you mean ladybugs?
😀
That's if they don't get a hold of your passport and seize your funds first.
@@markyouneva7840 sure, like the ladybug from A Bug's Life...
94,000 to IRS and not in jail? Good Lord..
Never owe IRS no matter what!!! Them guys don’t play.
100%
Yeah. Their penalties are absurd.
I have to pay to IRS $5000 and I can’t pay it. There is any way that I can get away from it
Earned income = Higher taxes Unearned income = Low taxes
Not right but that's how they do it.
Spend 2k on the ELP and 2k on the tax attorney.. Dave Ramsey style!
When did shaq join the show?
People are so careless. no wonder why these Americans are losing their lives.
IRS = I R Scared
That's lame
IRS= IM REALLY SCARY
How much do you make to owe $94,000? That would be about 17-18 years of taxes for me.
I felt nauseous reading the title of this video.
Don’t forget to address the states.
Know the income tax law. Oh yea there isnt one.
Tax attorney or tax professionals to figure out taxes.
Everyone owes IRS A Columbine
Never take tax advice from a guy who filed for bankruptcy for millions of dollars. You don't need a tax attorney. You can get a tax professional like a CPA who specializes in individual tax returns or an Enrolled Agent (EA). You would fill an IRS Form 2848 for Power of Attorney and Declaration of Representative to authorize an individual to represent you before the IRS. I seriously doubt that an amended return (1040X) will wipe out this guys balance to zero because it sounds like a Schedule C sole proprietor business and he didn't report all of his gross income or can substantiate his expenses. A lot of the calls on the Dave Ramsey show are staged and not real people or situations.
What business was he running ?????
Boats and hoes
Whatever dude
Build the wall!!!
IRS an euphisim for drug addiction or gambling debt!?
They are Brutus, Ceasar you are gonna get stabbed. Get professional help asap.
I would move to Canada
After we die, what happens to us?
Not a fan of this new format.
I prefer it when Dave answers calls by himself.
I'll stick with the older videos.
What we should be talking about is how to abolish earned income tax. Why are we taking this theft thinking its ok.?
IRS: Internal Revenue Service
Spam to plug your own Ramsey knockoff channel
I owe $260 lol!!!
too bad his last name wasnt biden
Problems I try to avoid 😫😫
I invested in both stock and crypto but currently I believe crypto is doing More better!!"
Really
Stock is good crypto is better
@Frank Jeffrey not because of ignorance but the rate of unprofessional brokers in stock market..
I wanted to trade crypto but I got confused by the fluctuations in price...
That won't border you if you trade with a professional like Expert David Mark.
Time to leave the country bucko Australia is looking real good right now
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