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<< OK I owe about $14,000 to IRS, am on a monthly payment plan of $400 a month...the penalties and interest accrue each month making it WORSE than a credit card!! Does ANYONE know why or how this can be stopped..I have tried to "negotiate" with "them" to no avail...needless to say its ruining and destroying my life...and to have so visible "end" in sight is devastating, I know there has to be a solution but have yet to find ANY hoping someone will offer a suggestion that I havent already exhausted >>

Well, there are a few options.

1. Do you have assets you can liquidate or use as collateral for a loan at a better rate?

2. If the rate you're paying IRS is higher than credit cards, do you have available credit on the cards that you could use for a cash advance?

3. You might want to consider an offer in compromise, but I doubt that you'd qualify since it appears that the entire liability can be paid, even though it'll be rough on you.

Most important: since you didn't tell us how you got in this situation, we don't know if the future is just going to present more problems. Are you going to be able to pay your 1999 taxes in full when you file? If not, you need to get in touch with IRS to renegotiate the agreement to provide for payment of current taxes.

Phil Marti
Tax Preparer
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