Does the IRS a have legal rights to charge penalties and interest to existing debts

Asked about 1 year ago - Pacific, MO

I have a lien filed on my home from 2008 and they just added 400,000 more for penalties and interest

Attorney answers (3)

  1. Brian Joseph Munson

    Contributor Level 13

    2

    Lawyers agree

    Answered . They sure do. And they add up fast. You really need to see a tax attorney.

    This answer does not establish an attorney-client relationship, Moreover, this attorney is Licensed to practiced... more
  2. Evan A Nielsen

    Contributor Level 18

    1

    Lawyer agrees

    Answered . Yes, unfortunately they do. Until it's paid, the penalties and interest will continue.

    Sorry it's not better news.

    Evan A. Nielsen is licensed to practice law in California and handles federal tax matters throughout the U.S. The... more
  3. Dara J. Goldsmith

    Pro

    Contributor Level 14

    1

    Lawyer agrees

    Answered . Absolutely. The sooner you can cure the underlying issue, the sooner the penaities will stop accruing. You should speak with an attorney to determine if you have an meaningful opportunity to negotiate away the penalties. Interest is not negotiable. As far as the interest goes, it will continue to accrue until the obligation and any accrued interest and penalties are paid.

    Best of luck to you.

    This response is not intended to create an attorney client relationship. The response is solely intended to... more

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