I have completed all my back tax returns but have not yet filed them (2005-2008) and have come up with a tax owed of around ,000 which will surely be at least -,000 by the time penalty and interest are added in. My 2004 returns shows me owing ,000 and the IRS has already started the levy process against my personal income last week but made an error on the form so I have dodged a bullet until they get it corrected.

I spoke with the IRS this morning and told them how much my gross and taxes were for the 4 years I haven’t filed and they have asked me to fill out a collection information statement form 433F and have given me until Monday to call them back and give them the info on the phone.

Due to some huge unpaid medical bills, my debts outweigh my assets by at least 3 to 1 (assets ,000, debts including ,000 tax are around 0,000).

I have around ,000 cash saved, and ,000 equity in my house but cant find a lender because my credit is terrible.

Any suggestions? Will the IRS be able to give me an installment plan or could I opt for an offer in compromise? Or is bankruptcy an alternative?

I have never been in such a poor financial condition in my life.

Thanks.
Can I possibly do and offer in compromise? I realize now that federal taxes can not be discharged in a bankruptcy. Can the IRS do an installment agreement for ,000 or is the maximum ,000?
Thanks for all the advice but please get off your pulpits. Facts only please, no criticism. I know the situation I am in and how i got here. You dont need to remind me and/or accuse me. I just came here for answers. So lets stick to the answers people.
Any answers about the possibility of Offer In Compromise?
Can I do an installment contract for ,000 if I can pay it within 3 years?
AFTER I FILE ALL RETURNS DUE AND OWE ,000, CAN I GET AN INSTALLMENT AGREEMENT? IS IT POSSIBLE?

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If the family is on welfare (government-assisted apartments & food stamps) but has much unpaid medical bills? Husband has only VA insurance but apparently they won’t pay much of the bill because he reported it past 90 days (or something close to that). Not sure what bankruptcy entails but I know it means "start from scratch" but we also don’t have anything to give….so can a person on welfare file?

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Im only 21 yrs old, just moved fom ny to atlanta in feb but i have alot of unpaid medical bills that my insurance didnt pick up that i cant afford to pay. I also had 2 credit cards when i was 18 and i maxed those out. Citibank is suing me for a loan i never received.i also have 3 different bank accts in collections due to id theft that wasnt fully investigated. and last but not least, i have a comcast bill that totaled to 00 b/c a family member used the phone to make international calls and refused to pay it and now lives out of the country. what kind of bankruptcy should i file if any?i have 1 car in my name that i pay the note on and my husband has a car that were paying the note on. Will my husband be included in this too?he has new credit but i know the link married people’s credit together. Someone advice…..please!!!!!

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