Jim Flauaus is an Enrolled Agent, authorized by the US Treasury to represent taxpayers before the IRS.
He fights for taxpayers to resolve their tax matter in the most advantageous, most expeditious manner possible.
Jim (aka”Anchorman”) can help you 👉put an end to your IRS stress, 😀settle tax debt for less, ⭐️and get a fresh start.
The purpose of these videos is to reduce the confusion and fear you’re feeling about your IRS problem, and replace them with clarity, control, and peace of mind around your finances.
Note: The info presented is educational, not professional advice. For advice, contact a trusted tax professional to assess your specific situation and advise the best resolution to your tax matter. If you don't have a tax pro you can trust, contact Jim.
Hi, i currently owe 12K total in back taxes(2022 and 2023). I've been on an installment plan for years, paying off per year about a year of back taxes. I'm just about to start on the 2022 taxes. So in about a year I'll have it paid off but I'll owe for 2023 and 2024. This cycle has repeated for the last seven or eight years. Each year I file and it just seems to roll into my continuous installment plan. Problem is I'm having very little federal taxes taken out of my current checks, so by the time I file around April every year i owe around 6,000 which for several years just goes on to the installment plan. I guess I've gotten lucky the IRS pretty much leaves me alone except for every now and then I'll get some kind of letter like you mentioned in the video. At that point I usually call the IRS and discuss the letter and they confirm that I'm making installment payments and to disregard the letter. I tell you it's still hard to sleep good at night when you thinking about the ways the IRS could suddenly ruin your life I doing things like garnishing your wages or emptying your bank account. There's that fear that even though they say disregard the letter that that just might be one of their agents saying that just so they can get off the phone and deal with other matters. I thought about the offering compromise and nearly did it until I listened to Dave Ramsey. I really enjoy your videos so any advice would sure be great. I've also been thinking about maybe sending a separate payment for an estimated tax payment to go towards the current year, that way I'm not hit so hard.
If you’re on an installment plan, the IRS is not gonna levy your bank account or paycheck. The question is do you qualify for an offer in Compromise. Get the answer to that question. If you do pursue it. If you don’t then there are other options
@@bye-byebacktaxes4987 Dave Ramsey says getting approved for an OIC is not common, and if you submit it it could open up a whole new set of problems. Not sure I want to risk that. I'm not a business owner but I thought about also making monthly payments towards estimated taxes and not just the installment plan back taxes. That way I can get a handle on current taxes. What's your thoughts on that?
@@youtoo2233 Ramsay’s expertise is debt cancellation. He’s never prepared an offer in compromise. I’ve submitted several that have been accepted. The question is do you qualify? There’s a prequalified tool at irs.gov. use it and contact me if you feel you qualify and I can confirm your work
Very interesting, I've been on an installment plan for years and they never have really said much about me paying current taxes on a quarterly basis or anything, when I file every year I always owe a few thousand dollars for that year and they just tack it on to my installment plan, I pay several hundred dollars per month towards back taxes, each year I end up being able to pay off just one of the previous years taxes. I'm just a couple of years behind but I hate it. I talked to a tax attorney who charges $1,500 to do the order of compromise for me but it's not guaranteed the IRS will approve it so I don't know if I want to risk that 1,500, times are tough as it is. I'm thinking about getting more federal tax withheld out of my checks so I'll owe less for each current year when it's time to file taxes. As of today I owe 12K back taxes total for years 2022 and 2023. Any advice would sure be appreciated, thank you sir.
1500 is a bargain to submit an OIC. In fact it’s a signal the attorney may not have experience and expertise to get it done. Up your withholdings, increase monthly payments or get an OIC. Sounds like you’re treading water just paying the IRS interest under your current way of doing things
62 terminally ill went with I Deal Tax solution's paid 4000.00 up front Dec3rd 2023 they have not told meanything programs,what will I have to pay asked for money back said it's processing what does that mean they call 4times to say I have a new case worker won't answer phones wrote BBB I HAVE NO IDEA WHAT THERE DOING
You really want to give the government that much control? You don't want to be proactive about maximizing your deductions, credits, etc and miminizing your tax bite?
TRUMP for No more earned wage tax. No more earned wage tax No more earned wage tax TRUMP for flate rate unearned income tax on every penny of capital gains rich or impoverished
Good Morning, I just got a Letter from the FTB for $6,000 for past Tax Year 2016, I reached out to TAX RISE for help, Gabriel wants $250 a month for his services and asked for my Banking Information I gave it to him and now I want to call him and tell him to delete it my gut feeling is almost spot on what do you think?
I signed up with Anthem for $2500. 3 years later and nothing happened. Always new different people. So desperate and signed up with Taxrise for $395 for consultation and then $3200 to sign contract. After reading contract says no promises or guarantees. They don’t settle the amount you owe. They only reduce the interest and penalties fees and stretch out your payments. To cancel you have 3 days but have to hand deliver or telegram them. So they make it difficult for you to cancel.
Hello Sr. thank you for this advice. My case is different I owe 3 digits to IRS unfortunately I already made installment agreement . Can you still give me your best advice. God bless 😇
You can file without paying at the time you file At the IRS will send you an assessment letter, and begin collection proceedings once the taxes are assessed to your account
And this is not democracy or any kind of Free Market Capitalism, this is dictatorship, and this is why people must stop voting and filing, because when you do, you are only empowering your masters.
I am amending my 2022 tax return, and I will have a tax liability. I will be mailing the return out next week. Does the IRS have to process the amended return before I apply for the payment plan? Thank you.
How do you cancel the payment agreement once you've paid the IRS off. Account shows $0 balance and they keep taking money out of bank acct. I've called 3 times today and got routed to the balance due dept only to get call drop after 45mins. spent 6hrs on phone today and got no where.
Your “all Cash, no Tax” strategy only has a limited lifespan. At some point, a taxpayer wants to get married, spouse wants to buy a house, get a mortgage, and none of that really is possible without filing tax returns. Plus living “off the grid“ the life most people want? Most want to get employee paychecks or to own a business which requires a bank account….
I am accepting new clients, yes. How much does the IRS claim that you owe? Do you have any years of unfiled returns? Email me at jim@anchortaxrelief.com
I owe $300,000 for back taxes years ago, and deemed uncollectable. I personally cannot pay my $4,000 due in April. I technically could, but at 50 years old I am exhausted. Worling for filthy H1 B1 Sweatshop engineers 60 hours a week...I have given up. Jail me !
Well, first of all I don’t work for the IRS so I can’t put you in jail Second of all, if you technically could pay taxes, but you can’t because you’re exhausted, well, I don’t know what to say next But Thanks for checking in
Im self employed (realtor) can i pay it once a year when i receive 1099 or i must pay it quarterly with estimated amount? I heard i will pay penalty if i pay it once a year and not quarterly. Can someone please let me know.
You must pay quarterly. If you’re a realtor, set aside 25% of your net income every commission check send 20% to the IRS and 5% to the state at the end of every quarter. You’ll save yourself a world of trouble.
Gregory, I’m sure you meant to say the IRS is working illegally. By the way, I don’t work for the IRS so go tell it to someone who does. I work to represent taxpayers before the IRS to get them a fresh start and protect them from Irs collection abuse. Just thought you’d wanna know.
I owe taxes for 2007 -08-09-10 and 13. I was told last year that the csed was 05/2024. But I can’t get any verification on this. I’ve asked for transcripts. But every time I fill out the4506t form they send it back saying I filled it out wrong. I call they put me on hold for 1/2 hr 45 minutes and then they hang up on me. How can I get verification? I’ve been on a payment plan for 11 years
Obtained letters of Administration and Certificate of beneficiaries from high court of Solomon islands for my late uncle estate. He died in 2010. He was a Taxpayer US. We received IRS CP 504 in 2012. How can I Resolution the back taxes?
Thank God i found you. Ive been fasting and praying over the amount i owe. I work hard everyday no dependents unfortunately and theyve been knocking my head off for years.
Slavery has never ended it's just that they take about 25% of your money so you think that it is not slavery, but it is, don't pay and you will find out.
Man screw the government… I don’t give a damm I’m collecting my money and flee this country in the upcoming years Building a home in the Americas and grow agricultural
Show the the law in writing if I have to pay federal taxes? Only federal employees and government officials and the residents of Washington DC, have to pay federal taxes. For everyone else, its voluntary. Show me my mistakes
Section 1 of the Internal Revenue Code imposes the tax on taxable income. Section 63 defines taxable income as gross income minus allowable deductions. Section 6012 says that if you have gross income above a certain amount (usually the standard deduction) you must file a return. Section 6151 says that if you have to file a return you "shall pay" the tax. That's the law, and the idiotic idea that it applies only to D.C. residents and government officials is a myth.
@@huckfin1100 It is a fact that the Code contains the provisions I previously mentioned. It is a fact that the provisions mean what they say. It is a fact that they are applied by the IRS and the courts in civil and criminal tax matters involving a failure to pay. It is a fact that other provisions of the Code are used to determine if someone doesn't owe income tax (e.g., a Frenchman living in France who has no U.S.-connected income). It is a fact that some people who don't pay income tax that the Code says they owe go to jail or have civil judgments rendered against them for back taxes, penalties, and interest.
@@antilaw9911 Of course it's a federal law. Where on earth did you get the inane notion it isn't?? Look, the Internal Revenue Code of 1954 was passed by Congress as Public Law 591 Chapter 736. See www.govinfo.gov/content/pkg/STATUTE-68/pdf/STATUTE-68A-Pg1.pdf It was renamed the Internal Revenue Code of 1986 by the Tax Reform Act of 1986 (Pub. L. No. 99-514, § 2, 100 Stat. 2095 [Oct. 22, 1986]). Every amendment to the Code has been passed by Congress and signed by the President. The fact that Congress called it a code doesn't detract one bit from the fact that it's a federal law.
Can a dissolved c-corporation with no current assets/income that owes $100K+ in back income taxes still qualify/set up an installment agreement with the IRS?
