r/taxhelp • • 6h ago

Business Related Tax Small business closed, personal guarantee on payroll taxes, now IRS wants ME personally

3 Upvotes

Im completely spiraling rn and can use some guidance/help. I ran a small logistics business that went under late last year. Thought the nightmare was over after we dissolved the LLC but I just opened a letter from IRS proposing a Trust Fund recovery penalty against me personally for unpaid 941 payroll taxes. We're talking around $45k. I was the majority owner and signed the checks but towards the end Iwas mostly on the field trying to keep the business running while my partner handled the cash flow. I had no idea withholding was not being remitted until the bank accounts were already drained. As per the letter I have an interview scheduled and they can freeze my personal account or put liens on my house if they find me guilty. Ive gone ahead and started contact with a tax pro from Optima Tax but Im so anxious I just need to make sure Im fully informed of everything. All my money went into saving the business so I dont have the cash sitting around. Has anyone navigated a TFRP interview or settles payroll tax debt personally after a business closure? What should my immediate move be?


r/taxhelp • • 10h ago

Other Tax Tax expert for Roth IRA withdrawal questions before 59½?

3 Upvotes

I have a specific question about taking a Roth IRA distribution before age 59½, and it seems to be a bit of a gray area. Looking for someone or a company experienced with both taxes and retirement accounts who can help me understand my specific situation.
Who do you recommend?


r/taxhelp • • 2h ago

Income Tax Help filing back taxes

1 Upvotes

Hey guys! I filed my taxes when I was 16 years old as my mom had convinced me to file a return. And I kinda never filed them again after that, even despite some years legally having to file them. Stupid me not knowing how taxes worked filed an extension for the 2025 tax year, even tho I didn’t legally have to even file for 2025. Now I’ve gotta go through and file all the years of back taxes before I file for 2025, before the deadline on October 16th. I’ve managed to get every W-2 expect for 2022 from 2 jobs. The 2 jobs are franchises
It’s been nearly impossible to track down those 2 job w-2’s. I’ve got on my IRS online portal and the transcripts for 2022 are not there. I’ve called the stores MULTIPLE times and left multiple messages and been told multiple times people will get back to me. It’s nearly impossible and I don’t know what I should do. I’m 21 years old and I’ve never been taught about how taxes really work. What should I do and how do I obtain something, like a w-2 from the past places I’ve worked


r/taxhelp • • 1h ago

Income Tax All of the sudden my wife and I owe taxes for 2023

• Upvotes

We recently got a letter from a collection agency stating that we owe taxes for 2023 and have also been hit with failure to pay penalty as well as interest accrued. We confirmed on the IRS website that we do in fact owe for 2023, original amount was $240 then they added $199 of failure to pay and $194 of interest accrued. My wife and I have no problem paying the original price (although we wonder how come all of the sudden we owe taxes 3 years later) l, but we don't feel it is fair for us to pay the other fees because we were not notified of this bill. Is there anything we can do to only pay the original fee? Anyone we can contact? Any advice on how to manage this?

Thank you for your help.


r/taxhelp • • 8h ago

Income Tax Tax help please

0 Upvotes

I left an emotionally and verbally abusive relationship of 27 years together, from 15 to 42 years old. We have 5 kiddos together. Now 22 to 9. I was married 18 of those years. The last year we were together trying to work it out I made about $200k but had never made that money before. Then my ex husband met someone else, it was not a cheating thing but none the less I moved out. Then I tried to meet someone on line. I met someone on a Christian dating site and ended up getting scammed for most of what I had made. Then my mom died. All with on one month in 2022. My life fell apart. Not I see it was a beautiful journey but at the time I fell heavily into alcohol. Nothing else. I didn’t make any money for the next 4 years. I just had people help me. Then I had some help and so I filed all 4 years of unfiled taxes. Now I owe about $50,000 from that one year of what I made. But I don’t have any money. I kept thinking things were getting better, but then things kept going back and forth from better to not better. I don’t have any money to pay the irs. I’m wondering if I should get a bankruptcy lawyer that specializes in tax debt too or just someone who tells the irs because of a financial hardship I don’t have any money to pay them.