IRS is asking me to pay 500K for unpaid taxes

wow, lawyers now are having problems with spelling.

 

Of corse we do wen were posting on the internnets. U dont think we do any kind of sbel cheqing or editting like we due on profeesional stuff, do U?

 

So, let's cut to the chase.

Were you an owner?

If straight no, nothing to worry about it.

If you need to explain it, go hire a lawyer not an accountant. This has nothing to do with how much you made during that period.

 

Now, I am about to enter the business myself too. How's NYC treating you? Big law? Burned out? I am decisiding between California and Boston/NYC.

 

Good. But still hire a lawyer.

 

Dude, get a lawyer.

Don't joke around with the tax man. They will destroy your life, permanently. Get a lawyer. Putting all your faith in some letter from the same guy who tried to screw you over in the first case is naive at best.

 

Dude, 500 k? Man, I know you don't want to dish out any money for this, but you better see a tax lawyer asap. You are going to wish you did. 500k is no joke, buddy.

 

I concur.

The lawyer would pull up the company documents and get to the bottom of the problem. That is, whether you owned a part of the company as a limited partner or a general partner and he could possibly even request the company's tax statements for the years you supposedly owe.

The thing is, you say it's an LLC, but if the owner f'ed up on his filings, and his liability shield is whacked because of it, you could be part of an LP.

Depending on the recommendation of your lawyer, you might also need some consulting from an accountant.

Again, this stuff is major and you could end up kicking yourself for not fronting the 500-800 bucks that would've saved you a ton of headache.