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Or 😊 when you get the letter Notice of Deficiency write on it "The presentment above Is dishonored First-middle: Last , has reserved all rights under the Uniform Commercial Code at UCC 1-308" then mail it back to the same address it came from. They will say they can't make a determination in that department and it's getting sent to IRS collections. You will receive an apology from IRS collections department and a notification that it's now dropped 😊 your welcome 😁
I have my payment plan but amount still increases due to interest and penalty.Do I need to increase my payment amount?This debt never goes down unless you get advice from the tax advisor .Last year they took my stimulus money $1400 towards my tax and I don’t know they deducted or added.This time will be the same thing.So far no stimulus check in my hand.why?Why IRS should take my stimulus money?
Hey Karlton. I found two legal settlements, from two former employers, I didnt know about on my CA state online profile. I don't remember applying for or receiving the funds. Does it still count as income for reporting to IRS and CA. Won't change my AGI but will qualify me for EITC. Is it income bc it is reported. Otherwise have zero w2 income except for tiny royalties my online store (sole prop) paid me for purchasing my own products. I also have first yr pass through llc with no bus income yet.
Yeah, but you totally ignored penalties and interest that has accrued on the debt. We both know that interest and penalties alone with the IRS, are ridiculously high. Why recommend to pay on a payment plan instead of doing an 'Offer & Acceptance'??
You really don't have to pay them at all. I owe over 250k that's been accumulated over 10 years! All they do is place liens on your property, but if you don't own anything, it don't matter! They'll get paid when I win the lottery. 😊
You don’t have to pay it all at once, you mean. Balance doesn’t go down and it’s still accruing interest.
Right!
Daily interest, and it's a MF!!!
No there’s a cap on the interest 25% of the total amount owed
They charge you interest on the balance.
And penalties for underestimating your withholdings!
@@tate6809 people act like the IRS ain't gonna get their money. They gonna get their money and ruin you if they have to.
exactly. It’s not like it’s an interest free loan that you can use for whatever. It’s better to just minimize your taxes then pay them.
Arbitrating regular debt is one thing. Messing with the IRS is wild. I wouldn’t take on IRS debt willingly.
Or 😊 when you get the letter Notice of Deficiency write on it "The presentment above Is dishonored First-middle: Last , has reserved all rights under the Uniform Commercial Code at UCC 1-308" then mail it back to the same address it came from. They will say they can't make a determination in that department and it's getting sent to IRS collections. You will receive an apology from IRS collections department and a notification that it's now dropped 😊 your welcome 😁
Have you tried this?
The interest is compounded, meaning you pay interest on principal and interest on interest.
KD is the best out their! Been following and sub’d for a long time now and every video has been stellar!
Keep it up KD, you help more than you know!
This is very dangerous advice
Thanks for sharing your experience
I have my payment plan but amount still increases due to interest and penalty.Do I need to increase my payment amount?This debt never goes down unless you get advice from the tax advisor .Last year they took my stimulus money $1400 towards my tax and I don’t know they deducted or added.This time will be the same thing.So far no stimulus check in my hand.why?Why IRS should take my stimulus money?
My guy you're super smart, Unc Sam here I come! SMH
It feels like these are bad advise. How would cpa would agree to it?
Great information
Hey Karlton. I found two legal settlements, from two former employers, I didnt know about on my CA state online profile. I don't remember applying for or receiving the funds. Does it still count as income for reporting to IRS and CA. Won't change my AGI but will qualify me for EITC. Is it income bc it is reported. Otherwise have zero w2 income except for tiny royalties my online store (sole prop) paid me for purchasing my own products. I also have first yr pass through llc with no bus income yet.
Ya the payments of 1500-2000$ a month.
its can be over 50,000 too.
😮 the irs sent me a letter saying own 1400 whit the date 2019 and am received the letter 2 months ago that's no make sense
Yeah, but you totally ignored penalties and interest that has accrued on the debt. We both know that interest and penalties alone with the IRS, are ridiculously high. Why recommend to pay on a payment plan instead of doing an 'Offer & Acceptance'??
shheeeit i owe about 1,100 thats light ....quick question...i owe because of my employer made an error...am i still liable?
What happens to your following years tax return if you get into a payment plan?
Save
is this for personal or bussines for the tax ?
What's the interest charge??
You really don't have to pay them at all. I owe over 250k that's been accumulated over 10 years! All they do is place liens on your property, but if you don't own anything, it don't matter! They'll get paid when I win the lottery. 😊
Bro???😂
😂😂😂 #Priceless
Yes
Do you get to choose how much the amount the monthly payment will be??
Clickbait title
Where is the law that says we have to pay a dime to the IRS?
Post it here if you can find it.
Lol, IF
When you tell yourself you have to put out new videos everyday you go from good/solid advice to this trash advice real quick. Come on bro