Q: I owe TN over $200k for past sales tax returns. What are their options they may perform to collect if I live in MS.
I have a salary of $88k before taxes and insurance. Therefore cannot afford the 5 year repayment plan they have offered thus far. Also have a current garnishment from the business on my paycheck currently of 25% or $750 per check. What is the max TN could collect per check?
A: You can submit an offer in compromise application with Tennessee Department of Revenue. Offer in compromise allows a settlement on your tax debt, if you can show your expenses are more than your income. You may be able to save alot of money in taxes. I hope this information helps you.
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