Negotiating Back Taxes Down?
December 16, 2013 5:58 PM Subscribe
So, in a nutshell here's the situation: I owe a significant amount of back taxes, and have the ability to pay - but want to see if it's possible to negotiate a lesser amount.
posted by anonymous to Work & Money (6 answers total) 1 user marked this as a favorite
I was self-employed and did not file taxes for several years. Bad, yes, I know - no need to point that out in the comments! Have worked with an accountant to prepare my filings and have the tax bill in hand. With penalties, looking at about $70,000 in back taxes. I knew I'd owe a fair chunk but this is higher than I expected by about $20K.
Now, I actually have enough saved to pay this - but, I hear all the time about tax negotiations and paying less than actual money owed.
Is it worth talking to a tax lawyer to try to lower the amount? Has anyone done this and have any recommendations? Alternately, has anyone tried this and found it to be a waste of time?