Taxes and BK7 question
I have completed my bk7 and now I'm starting the process of dealing with the state of CA and IRS for recently unpaid taxes roughly about 99k. When I did my BK7 some of my older taxes - around 14k was from 2003 and was owe only to the IRS. I have never been in the situation where I couldn't pay my state taxes. Now I owe state 28k and the rest to IRS 56K for 2005 5k for 2006 and 9K for 2008. I was on a payment plan with the IRS for the 14K before this whole mess started in 2005. 2 things happened at about the same time: back dating of Stock options from my employers (sec investigates and we go into a black out for over a year and the stock drops from $75.00 to $4.00 a share) and my stock was with Lehman brothers and I had a margin call (lost about 1 million) and then they went BK and the rest is history. Well this is why I have tried to clean this mess up with BK and now I have the tax to deal with and it is painfully scary. I feel like I'm dealing with the Mafia and they might toss me in the river with cemented feet
So I am asking if anyone has had this much money owed and how they proceeded to negotiate with the state or IRS and if you have anything that can relieve my mind. This is the scariest and most painful financial situation I have ever even imagined that I would experience - I am 55 single and I don't know what to expect. I have worked out a payment plan with the state but now that I owe from last year that will default and go up to another level of
collections and the Irs has given me 9 weeks to file 9k and then prepare for a payment plan and then they said to go for an OIC.
Thanks for listening and please any advise is so welcome.
Peace!
So I am asking if anyone has had this much money owed and how they proceeded to negotiate with the state or IRS and if you have anything that can relieve my mind. This is the scariest and most painful financial situation I have ever even imagined that I would experience - I am 55 single and I don't know what to expect. I have worked out a payment plan with the state but now that I owe from last year that will default and go up to another level of
collections and the Irs has given me 9 weeks to file 9k and then prepare for a payment plan and then they said to go for an OIC.
Thanks for listening and please any advise is so welcome.
Peace!