I am trying to cope with the meltdown of a 50 year old financially incompetent brother who is now in massive IRS trouble, to the extent of wage garnishment and threatening second-notice 668-C letters to prior employers. He owes more than $35K to the IRS because he didn't believe he had to pay taxes as an independent contractor. He has never retained the services of an accountant or attorney, and I am just now finding out because one of his former employers called me. From the demand letter, it looks like he has 5 DAYS to pay the IRS.
My brother is extremely secretive about any finances, but we know he has massive credit card debt because collection agencies call him at all hours. I would guess he has credit card debts of about $70K. I also think he has been involved in several very bad "investments" with people who make themselves out as friends. When confronted about any issue like this, he lies and says it has been taken care of.
He has lived in a series of rented houses, but has landed in the lap of my ailing, widowed 80 year old mother because he has run out of places to run.
My first issue is to get him to a tax accountant to set up a dialog with the IRS, and avoid an arrest for felony tax evasion.
Now what? Our small family is massively stressed over this. We live all over the country, so he can't just come live with one of us. He has a degree and his resume appears solid, but it is now evident that he has been passed from job to job because of incompetence.
Now what? Is there such a thing as a financial guardianship for a 50 year old who superficially appears to be competent, but is in massive denial? Help.
My brother is extremely secretive about any finances, but we know he has massive credit card debt because collection agencies call him at all hours. I would guess he has credit card debts of about $70K. I also think he has been involved in several very bad "investments" with people who make themselves out as friends. When confronted about any issue like this, he lies and says it has been taken care of.
He has lived in a series of rented houses, but has landed in the lap of my ailing, widowed 80 year old mother because he has run out of places to run.
My first issue is to get him to a tax accountant to set up a dialog with the IRS, and avoid an arrest for felony tax evasion.
Now what? Our small family is massively stressed over this. We live all over the country, so he can't just come live with one of us. He has a degree and his resume appears solid, but it is now evident that he has been passed from job to job because of incompetence.
Now what? Is there such a thing as a financial guardianship for a 50 year old who superficially appears to be competent, but is in massive denial? Help.