I owe back taxes for 1997, 1998, 1999, 2000, 2001, 2002, 2003, 2004
Totalling with penalities and interest $45,800.00.
I am unable to pay any... and have not been able for sometime. I am now unemployed.
Had bad motorcyle accident a year ago and tore up my leg. Didn't has hospitalization or money... so I suffered through until it healed... but I obviously need surgery which I can't afford. I had to give up my rental house and have been living with my parents for the past year and a half and they have been paying all my expenses. I have a teenable daughter who lives with us too. I just recovered from bronchitis and doctor told me I have enlarged heart and high blood pressure. I am trying to get back on track healthwise to return to work, but it will be a while before I am back on my feet.
IRS is on my back and I want to make an Offer in Compromise. I will have to get some money from my parents... but they don't have too much especially with having to support two extra people.
My question: I want to offer IRS $500 OIC... do you think they will accept this?
Will IRS feel that I have no living expenses (because I live with parents) so if there are future earnings they will want all of it? (This is a temporary arrangement... my mother is 67 and my father will be 65... they want to retire). I will not be able to live off them when they retire. My daughter can go back and live with her mother for the time being.
What is a reasonable offer to make OIC considering my circumstances... I have no assets... no car (use my father's), a couple of used pieces cheap furniture... maybe worth $200, no bank accounts, no house, no land, no savings?
Thank you.
