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I'm not a tax professional, but a couple of estimates lead me to believe you might owe more than $40,000 in back taxes. (since you owe 13 years of back taxes, you're estimating only about $3000 per year. That seems low to me.)

I recommend holding on to everything until you figure out the tax bill. I suspect the IRS won't take less if you have less, they'll just work out payment terms such that you have to pay them interest over the next n years. Wouldn't you rather just clean up this problem once and for all?

I'd focus on the tax payments first, and then on investment.

-Megan
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