One of the most frequent and
most frantic inquiries I've had over the years has come from taxpayers that are petrified
because of their position with our friends at the Internal Revenue Service (IRS). Nobody
likes to pay taxes, but they're a fact of life and the cost of living in the best country
on the planet. And while we can debate the lawfulness of very existence of the IRS until
the cows come home, the fact is that they're the most powerful collection agency of it's
kind on earth.
Of course, bad
stuff can happen to good people. Maybe you got sick or were in an accident. Perhaps you
went through a horrific divorce or are dealing with the harsh reality that your stab at
becoming an independently wealthy entrepreneur is now coming back to haunt you in a big
way. Stuff happens...and it's never fun to be in the sights of the folks at the IRS.
Here's an excerpt from one of my columns that appeared in The Dallas Morning News in June
"Dear Ben: I'm petrified and need some help. I
lost my job in 1992 and went through a horrible period of financial depression. It was all
I could do to keep my car from being repossessed and a roof over my head. As a result of
all of this ducking-and-dodging, I haven't filed my federal Income Tax Returns since the
1991 tax year. I know that sooner or later, this situation is going to explode and I'm
going to get a dreaded letter or phone call from the IRS, so I want to try to get this
under control on my terms. Is there any sort of amnesty program or level of forgiveness if
I give myself up and throw myself on the mercy of the IRS?
Shell-shocked (somewhere in Texas), via e-mail
Dear S.S.: I'm sorry to hear about your
trials-and-tribulations in the 1990's. But you are smart to want to get back "into
the system" (as they call it in the world of non-filers) and get your tax house in
order with the IRS. According to Jay Schlichting, an Enrolled Agent with many years of
experience negotiating settlements with the IRS: "It's always best to approach the
IRS on your own terms. Time is your friend; the IRS won't forgive debts owed because the
taxpayer "gave himself up," but they will based on their ability to pay. They do
have an amnesty program of sortsit's called an Offer In Compromise. Depending
on the taxpayer's assets (or lack thereof), it's possible to arrive at settlements as low
as 10 cents on the dollar (or even less). Bottom line? Never try to represent yourself!
Let someone qualified negotiate on your behalf keep you out of the line of fire." For
more information about cutting deals with the IRS, check out their website at www.slicktax.com or call them at (972) 385-8182.
I have gotten so many kids letters/e-mails from folks across not only
North Texas, but all over Texas and around the entire country thanking me for referring
their tax nightmares to the man that can solve their heartburn: Jay
Schlichting. Tell him
that I sent you and you'll get a free half-hour consultation. What are you waiting for? If
you'd like more information, check out his website at www.slicktax.com
or give him a call:  385-8182 or if you're outside the Dallas dialing area, call him
toll-free:  590-2500.
By the way: You don't have to be in
trouble to utilize the services of The Schlichting Group. If you're a business owner and
need assistance getting your quarterly taxes together and other tax needs fulfilled, give
Jay and his team a call. They're quite qualified to handle your situation...or refer you
to someone else if they can't help you out!