What Form 843 Deductions 2011-2023

All right take a look at this Tom Daschle 140 thousand dollars in taxes no penalty Tim Geithner our department of treasury secretary owned 42,000 no tax penalty charles Rangel the congressman from New York Oh ten thousand dollars in taxes no penalty and Nancy killifer who was going to be the fat cutters are at the White House owed almost a thousand no tax penalty brilliant isn't it they all managed to avoid paying any of those penalties on taxes that they owed so what makes them so special our next guest says not much rich Boggs is the CEO of nationwide tax relief and he's joining us live right now from Los Angeles hey rich okay so those were some some big shots in Washington DC can we expect the same treatment if the IRS hauls us in and said okay you owe this much in back taxes are we going to have to pay penalties in let if you have a good attorney if you call some expert help you can you can avoid penalty statutory additions are negotiable with the IRS what it's a statutory addition penalties interest on principal and interest on penalties or statutory addition all that stuff all those guys out okay sometimes the penalties can be more than what's actually oh you've got some tips about what to do if this is the case you start with being proactive so don't delay your reaction to this correct the penalties and interest first of all as you said are ghastly we have clients at all more in penalties than they do in taxes if you wait number two you risk collection activity liens Bank levies wage garnishment IRS can move in very quickly to collect and three waiting for the IRS to make...