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Determination for Debt....This is a discussion on Determination for Debt.... within the Credit Problems and Repair forums, part of the Mortgage and Loans Forum category; How does a collection agency determine how much money they will settle a debt for? ... |
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How does a collection agency determine how much money they will settle a debt for?
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Determinations aren't set in stone, and the true amount of tax you owe can be recalculated so long as you file all the missing tax returns and bring your account up to date. Even if you pay the Determination amount off in full, you'll still be liable to receive fines and interest charges if you fail to submit the outstanding returns.
Even if you do submit your tax returns, recovery action on the determined debt amount may well continue while the final figures are worked out, so you'll have to get in touch with the tax people to come to an interim payment arrangement until the amount you actually owe is finalised.
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