Once you ask for a payment agreement, collection efforts cease.
Many are failing to file the proper paperwork to receive the $400 ($800 per couple) Making Work Pay credit.
IRS will automatically extend filing deadline to Oct. 15, but you still have to pay what you owe now.
End of Bush tax cuts and additional Medicare tax will mean higher taxes, especially for wealthy. And inflation could push more into that group.
IRS will accept 'pennies on the dollar' only if you meet certain criteria. But companies will take your money even when you don't.
IRS charges 5% a month for failure to file unless you get an extension.
Liability protection? Doubtful, and you'll get to spend more on your lawyer and accountant.
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