Montana Tax Law Questions & Answers

Q: Can IRS garnish shareholder's personal monies for corporation tax debt?

1 Answer | Asked in Tax Law for Montana on
Answered on Jan 24, 2018
Linda Simmons Campbell's answer
It sounds like you were charged a failure to file penalty. Sometimes the IRS will abate the penalties once you have filed the required returns. I suggest filing a penalty abatement request. If that does not bring the debt down to an amount you can afford then you can try and submit an Offer in Compromise. The IRS has an Offer in Compromises tool on their website that you can use to see if you might be eligible.

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