After being unemployed and moving to Colorado in 2003, a taxpayer was unable to find employment other than in fast food and later became unemployed again in 2004. Without early withdrawals from his pension plan, he would have been homeless. He failed to include the early withdrawal income on his federal and state tax returns. The IRS picked up on this in 2006, and a relative paid the federal deficiency plus penalties. The taxpayer later found employment in another state and paid the Colorado collection agency the full amount plus penalties for the 2003 Colorado taxes. Now, in 2011, a different collection agency is pursuing the 2004 tax deficiency, which was mailed to an old address. The taxpayer has lost everything due to mandatory retirement and low pay. What is the best way to proceed now?

June 3rd, 2024

I have been trying to get my PIN number for a couple of years now and can't even get my taxes done without it. Can you help?

November 6th, 2024

I have a SEP. I can qualify to take the Required Minimum Distribution (RMD) but I don't want to. Can I borrow from my SEP and if so, how long do I need to pay it back before I have to take it as income?

December 5th, 2024

How do I get a tax lien payoff letter from the IRS for the year 2005, and how long will it take to receive it?

May 10th, 2023

What are the FBAR filing requirements for a Transferwise Borderless account that provides access to accounts in different countries, including a USD account in New York, USA?

July 23rd, 2024