[0:00]I started a business and it was booming. Made my first million in a couple of years and um, my financial life just spiraled out of control and uh, now I don't know if I should go bankrupt and um, figure out a way how to get back on track.
[0:13]I haven't done any payroll taxes and I owe since 2017/2018. I also haven't filed taxes since 2017/2018. And um, I have over $70,000 in credit card debt.
[0:27]Really, really bad news for you that apparently you're not aware of, 941 payroll taxes are not bankrupt-able and neither is the IRS.
[0:35]So all of your taxes are gonna be there if you file bankruptcy. So, the first thing I need you to do before we even talk about bankruptcy is I want you to go to RamseySolutions.com.
[0:44]Find the tax person in your area that is Ramsey Trusted, and I want you to sit down with them and develop a strategy to get caught up on your filings.
[0:51]You withheld taxes on your employees, right? And then didn't pay it. That's a trust account. And those live forever. The IRS puts that in the extremely serious bucket.
[1:02]Not paying income taxes is not a criminal offense. Not filing is a criminal offense.
[1:09]2,561 people went to jail last year. They put people in jail for not filing. And you have not filed a lot.
[1:16]But I I've never in 35 years of doing this seen someone actually get prison time or get criminally charged if they come forward.
[1:24]But if the IRS comes and finds you, you're gonna be screwed. So you need to take care of this proactively, tomorrow.
