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Originally Posted by simplechamp
Well sounds like most people are doing alright, haven't had any horror stories yet, but I'm sure they are out there.
I always wonder when I see those ads on TV for tax debt relief lawyers. The people on there say, "I owed the IRS $150,000 and the tax debt lawyer got it down to a fraction of that!" And I think, how the heck can you owe that much to the IRS unless you are doing something extremely stupid, irresponsible, or downright criminal? It's not like the IRS just decides out of nowhere that you owe them all this money. Yes, there are circumstances where you might make an accounting error and they tell you you owe an extra few hundred or even a few thousand, but to owe tens and hundreds of thousands of dollars isn't a simple accounting mistake. Hope I don't offend anyone with that statement, but I just don't get it.
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The IRS figures penalties and interests which can often lead to a hefty bill.
I've seen a guy loose over $100K fighting with the IRS over a $8000 bill, this was over a 12 year span.
I've also seen people get bills from the IRS from 1992 and later periods about an amount owed plus interest and penalties.