Closing a Business- Have IRS debt -Help

[rickdaddy 0]

Has anyone had to close a business & still owe the State Board of Equalization a lot of money. I am thinking of hiring a "debt Resolution firm" The firm wants power of attorney of my corporation. Does this sound correct? I would like to handle things on my own. Any suggestions?

[freeflir29 0]

My first thought was "Wow.......that sounds nuts!" Then I checked your profile and saw that you live in the People's Democratic Republic of California. It instantly all made sense. I really hate that state!

[rickdaddy 0]

Democratic Republic of California !! That sounds correct. I don't agree with most in this state currently. They wanted Kerry for Pres...idiots. I am from Ohio originally.

[Gravitymaster 0]

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Has anyone had to close a business & still owe the State Board of Equalization a lot of money. I am thinking of hiring a "debt Resolution firm" The firm wants power of attorney of my corporation. Does this sound correct? I would like to handle things on my own. Any suggestions?

I would be very..very.. careful dealing with these types of organizations. They will usually want a sizable amount of money up front and will most likely have you sign a contract that puts a lot of hoops for you to jump through. Miss one hoop and the contract is null and void, they keep all your money and you get to start all over again.

If you owe a lot of money, a good CPA who is a certified Enrolled Agent might be your best bet.

I would also caution you about dealing with the I.R.S. on your own as you may inadvertently disclose information that gives them a road map to your assets. Best advice I can give is do not trust the I.R.S. they will lie to you, make deals they will later try to back out of etc.. Get someone who knows what they are doing and don't talk to the I.R.S. yourself.

[Nightingale 0]

Debt resolution firms are usually kinda shady. You'd probably be better off hiring a tax lawyer.

[Gravitymaster 0]

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Debt resolution firms are usually kinda shady. You'd probably be better off hiring a tax lawyer.

Most of these tax resolution firms are Tax Lawyers. The same rules apply when dealing with them. They will include in the contract a clausethat states if you are non-compliant or even slightly late in providing documentation requested, they can cancel the contract and keep your money. I'm not saying t all Tax Lawyers do this, but there is a fairly significant number who do. Take a look sometime if you get the chance at the one offered by Ronnie Deutch & Assoc. She's a tax attorney who advertises nationally and IMO represents the worst of the worst.

[rickmontgomery 0]

Ideally find an attorney that is also a cpa. Then you will be protected by attorney/client priveledge. CPA's and other entities can be subponad by the IRS and will have to testify against you, provide documents, etc. A good tax attorney or attorney/accountant can advise and protect you.

[rickdaddy 0]

I really appreciate all the input..I will continue with the homework before signing anything.

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