TV ads for IRS Tax relief.
Thread Starter
Registered User
Joined: Feb 2002
Posts: 4,281
Likes: 0
From: N. Tx.
TV ads for IRS Tax relief.
Recently I have noticed quite a few T.V. ads for Tax debt relief from the IRS. These compies(all with fancy names) provide some way to negotiate down on your debt to the IRS. I was wondering:
1. How does it work?
2. Why are they advertising in Oct. I would think March/April would be the best time.
1. How does it work?
2. Why are they advertising in Oct. I would think March/April would be the best time.
Joined: Oct 2003
Posts: 11,950
Likes: 474
From: MAHT-O-MEDI
People are always delinquent on there taxes no matter the time of year.
Most own there own businesses and either
A) have cheated on taxes and are living high off the hog but not paying taxes
or b) are bad book keepers, bad business people, and screwed up their tax returns.
If you are one of the former, they usually go after you and you have years of litigation but they have good lawyers. If you are one of the latter, you get some lawyer from the TV commercial, go in and say:
"My client aint too bright, screwed up, does not have any cash, and you might put him out of business for good and onto the public dole. Instead of trying to get blood out of this turnip, how about we settle for what he can afford to pay and call it a deal?"
If it is some poor schmuck the government will get what they can and give them a clean slate. Usually setting up a payment schedule the tax payer needs to follow to pay back the settlement amount before any charges would be dropped. The "settle your tax bill for $20" Ronnie Duetch ads are bunk.
And if you have the means to pay, you don't get off without a good fight. Ask Willie Nelson. He had good lawyers and they took his house and possessions several years back.
Most own there own businesses and either
A) have cheated on taxes and are living high off the hog but not paying taxes
or b) are bad book keepers, bad business people, and screwed up their tax returns.
If you are one of the former, they usually go after you and you have years of litigation but they have good lawyers. If you are one of the latter, you get some lawyer from the TV commercial, go in and say:
"My client aint too bright, screwed up, does not have any cash, and you might put him out of business for good and onto the public dole. Instead of trying to get blood out of this turnip, how about we settle for what he can afford to pay and call it a deal?"
If it is some poor schmuck the government will get what they can and give them a clean slate. Usually setting up a payment schedule the tax payer needs to follow to pay back the settlement amount before any charges would be dropped. The "settle your tax bill for $20" Ronnie Duetch ads are bunk.
And if you have the means to pay, you don't get off without a good fight. Ask Willie Nelson. He had good lawyers and they took his house and possessions several years back.
Joined: Oct 2000
Posts: 17,288
Likes: 39
From: Nashville
that is how I would understand it..... very similar to "debt relief".... they call the credit card companies for you (instead of meeting with the IRS) and give that same speach..... then they charge you XXX for their efforts.... I am sure they do well.
someone just told me about a friend of his filing for bankruptcy and then had to make payments of like $100/mo for 2 years.... TO THE LAWYER...ahhaha.... the lawyer completely misrepresnted his fees... apparently is was some small amount up front but then with the payments it turned into a bunch more.
the entire idea of America is to fuck the next guy.
someone just told me about a friend of his filing for bankruptcy and then had to make payments of like $100/mo for 2 years.... TO THE LAWYER...ahhaha.... the lawyer completely misrepresnted his fees... apparently is was some small amount up front but then with the payments it turned into a bunch more.
the entire idea of America is to fuck the next guy.
Former Moderator
Joined: Jul 2002
Posts: 7,449
Likes: 0
From: Between Hell/Ann Arbor
Originally Posted by Scot,Oct 5 2006, 04:51 PM
that is how I would understand it..... very similar to "debt relief".... they call the credit card companies for you (instead of meeting with the IRS) and give that same speach..... then they charge you XXX for their efforts.... I am sure they do well.
someone just told me about a friend of his filing for bankruptcy and then had to make payments of like $100/mo for 2 years.... TO THE LAWYER...ahhaha.... the lawyer completely misrepresnted his fees... apparently is was some small amount up front but then with the payments it turned into a bunch more.
the entire idea of America is to fuck the next guy.
someone just told me about a friend of his filing for bankruptcy and then had to make payments of like $100/mo for 2 years.... TO THE LAWYER...ahhaha.... the lawyer completely misrepresnted his fees... apparently is was some small amount up front but then with the payments it turned into a bunch more.
the entire idea of America is to fuck the next guy.
Term of debt payment for Chapter 11 lets say 36 months
debt of XXXXX x the percentage your lawyer gets for you ~10% divided by 36 + Lawyer's fee ~$1800 divided by 36 = your payment
So if you owe 50000 and your lawyer gets you 10% you pay 5000/36 = 139.00
Lawyer fee 1800/36 = 50
So your total payment = 139.00 + 50.00 = 189.00 to pay off your debt of 50000 over 3 years.
Thread
Thread Starter
Forum
Replies
Last Post