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About Jay Allen Finn, CPA
Expertise
IRS Audits. All Collection Tax problems; specifically but not limited to, delinquent returns, bank levies, liens, garnishments of wages, Also specializing in Offer in Compromise. Limited to 1040/ personal tax issues
Experience
27 years experience as a CPA in the IRS defense area following a position as an IRS Auditor in the oil and gas industries.
Organizations
Texas Society of Certified Public Accountants (Peer Assistance Committee), Houston Chapter of the Texas Society.
Publications
Submit your articles.com
Education/Credentials
BBA - Bachelors of Business Admin., Magna cum laude, Series 6 and 68 - Registered representative, Series 65 - Financial planner.
Certified Public Accountant
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You are here: Experts > Business > Corporate Law > Tax Law (Questions About Taxes) > Back taxes and social security
Expert: Jay Allen Finn, CPA
Date: 9/4/2008
Subject: Back taxes and social security
Question
We owe for 941 taxes on a company we dissolved in 2001. Do these ever go away?
Also, we are nearing retirement age. The IRS has deemed these taxes
uncollectable since 2001 due to our circumstances and income. However, any
refund we get goes to them. My question on this is: will they take our Social
Security payments, also?
Answer
Such taxes never go away but may not plague your heirs or your estate. Your social security can be garnished up to 20% but hardly likely if you stay in uncollectible. You may wish to look at an "offer in compromise (pennies on the dollar) at this time. See my website or other similar IRS solvers (it is best to look for a CPA, Ex-IRS)
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