subject: Police Officers and IRS Tax Debt Even the Lawman Can Owe the Tax Man [print this page] Police Officers and IRS Tax Debt Even the Lawman Can Owe the Tax Man
Paying Dues: Some cops think they are above the law. But one thing is clear, they are not on the IRS. If police officers owe IRS, it's business as usual. The IRS will still call to collect from them, and they will want to keep the balance in full. So what are some good key to prevention?
IRS Weapons: If a police officer decides not to pay the IRS, there are several ways the IRS can pay for them.Paychecks can be garnished, can be seized bank accounts and assets can be taken. The IRS will not hesitate, just because you are with the police.
Face The Music: Here are ways to repay IRS debts.
Installment Agreement: This is a good option for the payment of debts for a policeman. Let's say your debt is $ 5,000. You may agree to pay your debts in one year a payment of $ 416.66 per month. But do not forgetPenalties and interest will still be generated each month on your account.
Offer in compromise: If you are lucky and actually qualify for this program, you may owe your debts for less than you settle. You have to prove that you are not in a position to pay off your debts in the future and all the reasons why the list in detail.
"Suspended Collections": Also known as the Emergency Plan. If you can prove you will go without basic needs (housing, tools for the job,Could be transportation, food, clothing and basic), if you pay your debt to the IRS you. Qualify Collections efforts will be stopped for 6 months to one year. But use this time wisely and quickly you work your finances. Because the IRS will resume the collection full force after the period of time has elapsed.
Help for the men and women in blue:
Police offers a variety of tax deductible items considered:
Uniforms had to pay: All uniforms youfor out of the pocket are tax deductible
Business phone, make sure it is really used for business purposes
Classes taken classes to improve performance are tax deductible. But only if they are for your work.
Union dues
Follow the rules: The Lawman gives you special privileges. And sometimes it can, the power go to your head. But officers of the law are not on the tax laws. Do not think you can go with it if you do not pay your taxes.
