Forgiveness for those trying to make a better life for themselves and others
The purpose of this letter is to inform those with any ability to assist in resolving the situation which my wife and I have become exhausted with.
In the years 2007-2009, I became involved in working as an independent contractor. I was not timely in paying quarterly taxes, and wasn’t aware of a lot of the deductions and other benefits that could be leveraged as an independent contractor. Over this period, I accumulated a tax debt of over 100,000 dollars. Due to this debt, and its continuing penalties and interest, I have been trying to mentally shoulder this debt and have been involved in a payment plan to pay it back.
The problem, due to the exorbitant amounts that I am repaying ($4000/month), it makes it impossible to save any significant amounts of money. In addition, the Tax Lien filed by the IRS combined with the payments paid to the IRS monthly, makes it impossible to purchase a home resulting in a 0 deduction situation. As a result, yearly taxes after filing are also impossible to pay. This vicious cycle along with no ability to move forward with our life has created a mental instability for myself. We are unable to adopt, unable to purchase a home, unable to invest.
In summary, this letter is a hope there could be some type of forgiveness for the situation. Some way that we could move forward in our lives, some way that we can lessen the burden of this debt that continues to haunt us in any plans for a future. I have gone through a lot of therapy and have found that if this debt could be equitably absolved, my family’s quality of life would increase exponentially. Due to my high-dollar income, I am not qualified for any forgiveness programs that I have been presented with. Which is even more depressing.
I am at the mercy of anyone (possibly yourself) that has a way to help me in my current situation. Without any help, there is no future and present life and how we live it becomes even more difficult. I am a good American. I have paid taxes and continue to pay taxes during my almost 30 years of employment. I am asking for forgiveness of the 2.5 years that created this problem that has continued to snowball into what it is today. 27.5 years of consistent w-2 deductions should mean something. An 8% problem in the big picture has turned into a problem in 100% of quality of life.
I appreciate your time in reading this, and I look forward to hearing from you on any suggestions that can help my wife and I move forward.