| Sound Familiar? Job Fairs, Interviews, and Internet | | | | you have no job, this may not be an option for you. |
| Searches and yielding nothing? You have no job. You | | | | Hardship Plan: You have a chance of qualifying for a |
| used to pay all your bills on time, but now you can't. | | | | hardship plan if you are unemployed. Basically, you |
| What can you do when you owe the IRS but you | | | | have to prove to the IRS that you cannot afford to |
| don't have the money to pay it with? There's a | | | | pay the IRS because if you do, you will not have |
| surprising amount of options available for those who | | | | money left over for your basic needs. If the IRS |
| are unemployed. | | | | determines that you're right, they will give you a brief |
| Choose the Right Help! See if you qualify for the | | | | reprieve from the collections process. But don't get |
| options below. | | | | comfortable yet. After the resting period is up, the IRS |
| Offer in Compromise - You can Settle your Debt with | | | | will continue the collections process. |
| the IRS. It's a very long and tedious process and the | | | | Penalty Abatement: The IRS won't stop their process |
| qualifications are difficult to meet. Consulting with a | | | | just because you're on hold. When you can't pay, the |
| professional is the best way to win an Offer, but it's | | | | IRS immediately starts adding interest and penalties . |
| not necessary. Be prepared to fill out 44 pages of | | | | This means that not only do you owe the original debt, |
| paperwork. In addition to that, you must include 20% of | | | | but also the newer fees. But there is a solution. Try |
| the offer when you send it in. | | | | applying for "Penalty Abatement." You could potentially |
| Installment Agreement - Can you pay monthly?. This is | | | | reduce your tax debt up to 30%! |
| like paying your credit card debt, except that the IRS | | | | Don't give up. There's lots of ways to take care of |
| gets to decide how much you pay per month. You | | | | your IRS debt, even if you don't have a job. There |
| have to provide your complete financial information to | | | | worst choice you can make is just to ignore it. Even if |
| the IRS. After they review it and realize you have no | | | | you are unemployed, your IRS debt will not simply |
| or little income coming in and no assets to seize, they | | | | vanish. |
| choose the amount you can pay each month. But if | | | | |