How to Negotiate with the IRS and Settle Tax Debt with Tax Expert Jay Patrick Podcast Por arte de portada

How to Negotiate with the IRS and Settle Tax Debt with Tax Expert Jay Patrick

How to Negotiate with the IRS and Settle Tax Debt with Tax Expert Jay Patrick

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 Facing IRS debt can feel overwhelming, but you have options. In this episode of The Debt Hotline, Hannah sits down with Jay Patrick, Director of Client Solutions at Tax Relief Helpers, to break down exactly how to negotiate with the IRS and avoid the worst-case scenarios.

Jay brings 15 years of experience in tax resolution and explains the three main ways to resolve IRS debt: offer in compromise, installment agreements, and currently non-collectible status. He also shares real-world insights on what happens when you ignore tax debt (spoiler: wage garnishments can reach up to 100% of your paycheck).

Sued for debt? Visit https://www.solosuit.com/?utm=podcast to resolve it.

Enter Solo’s In-DEBT-ENDence Day Giveaway this July for a chance to win $4700 to help pay off your debt: www.solosuit.com/giveaway.

In this week's episode of The Debt Hotline, you'll learn:
  • What happens if you ignore IRS tax debt (wage garnishments, bank levies, and liens)
  • Timeline from first notice to enforcement action (typically 6 months to 1 year)
  • Three IRS resolution options: offer in compromise, installment agreements, and currently non-collectible status
  • How IRS wage garnishments differ from other debt collectors (they can take much more)
  • Real listener questions about reversing wage garnishments, prioritizing tax vss credit card debt, and protecting Social Security benefits
Key takeaways from Jay Patrick:
  • The IRS can garnish 25-100% of wages depending on your income source
  • Interest and penalties always accrue on tax debt, even with payment plans
  • You must be current on all tax filings to negotiate effectively
  • Social Security recipients have some protection from garnishment
  • Communication is key, so don't ignore IRS notices
Hannah and Jay also tackle real listener questions, including advice for a self-employed person owing $18,000 during COVID, someone disputing unfiled returns from 2018-2019, and a Social Security recipient worried about benefit garnishment.

The bottom line: Tax problems are stressful but solvable. Taking action early gives you the most options for resolution.

To submit a question to The Debt Hotline, you can:
  • Call 801-613-8181 and leave a voicemail
  • Fill out this form: https://forms.gle/28gd4XFsq6ybN4Qu8
  • Send an email to support@solosuit.com
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