Expecting a Windfall Soon? It Won’t Help Your Current Oklahoma Tax Problems

You owe the IRS money now. Your taxes are already overdue, which is why the IRS has contacted you in the first place. The agency wants its money, it wants interest, and it wants to collect any penalties that you have incurred. It is not going to wait for a potential windfall or inheritance to come so that you can satisfy your already overdue debt.

Telling the IRS Agent about the Windfall May Have Unintended Effects

While you might think that you are offering the government a chance to recover more money from you and, thus, believe that you are doing the right thing, your statement about a future inheritance or windfall could have unintended consequences. Specifically, you risk:

  • Losing the trust of the IRS agent. The agent may not believe your “soon to be out of financial trouble” story and may be less willing to give you the benefit of the doubt in tax negotiations.
  • Close scrutiny by the IRS when you do receive the inheritance or windfall. Once you receive the inheritance, or other money, you should expect the IRS to look closely at the taxes you pay on it.

Additionally, your possible inheritance is going to have no effect on the money that you owe the government right now.

Call a Norman Tax Lawyer Today for Help with Your Current Tax Problem

If the IRS has contacted you about outstanding taxes, then you need help right now. You simply cannot wait for a potential inheritance or windfall to come—even if you feel certain that it will come soon.

For more information, we encourage you to contact a Norman Oklahoma tax attorney as soon as possible via this website or by calling 800-721-7054 for a FREE consultation. We also encourage you to read our FREE book, The Ultimate Survival Guide for IRS Problems, to learn more.