Threatening to levy my home!

Previous Years/ IRS Collections & Back Taxes

Hello,

I've been putting off my taxes for about four years now because I believed TurboTax was incorrect when I first input my information. It kept saying I owed money. As a chronic procrastinator, I finally took things seriously this year and hired a professional. The professional indicated I owed about $15,000 to $20,000 for the years I didn't file correctly When I set up my taxes at work, I made mistakes. I'm only 24 years old, so I'm not very experienced with this kind of stuff.

I haven't called the IRS yet. I filed in April of this year, and it's now July. The IRS keeps sending me mail saying I must pay this balance immediately. If I hadn't filed, how would they know? I live paycheck to paycheck, have a 3-year-old, and another baby on the way in a few months. Just trying to make ends meet is challenging. Now they're sending me mail threatening to levy my home, which I bought a couple of years ago. I still owe about $200,000 on it but have about $100,000 in equity due to the market rise.

I've been hiding the mail from my fiancée because I don't know what to do or tell her, and I'm very scared they might actually take my house away. However, I read online that they cannot do this if the debt is below a certain amount, which mine is. I'm planning to take off work on Friday to deal with this, but my bills consume all my cash flow, so I don't see the point in calling them if I can't pay. Having worked as a debt collector before, I feel like they might be trying to scare me, but I wanted to get someone else's input on this situation. Thank you so much in advance.

Posted Jul 2, 2024, 11:15 PM UTC

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