Help With IRS Back Taxes You are not alone if you owe back taxes to the IRS. However, the worst thing you can do is to just ignore it. Regardless of whether your back taxes relate to filed or unfiled returns, there still are ways you can catch up and keep the IRS from taking action. Outstanding Tax Debts Even when you file a tax return, but for some reason cant afford to make the full payment that you calculate, there are things you can do to remain compliant with the IRS even before making the full payment. A common way to take care of your back taxes is to request an installment agreement with the IRS. This allows you to make manageable monthly tax payments. And as long as you dont miss any payments, the IRS will refrain from using some of the harsher collection procedures, such as freezing your bank account. For most situations, the IRS will work with you as long as you maintain open communication. Offers in Compromise If your financial situation makes it impossible to pay the full amount of tax you owe and you cant even afford to make the minimum payments that an installment agreement would require, you may qualify to make an offer in compromise. This is essentially negotiating with the IRS to reduce the amount of tax you owe in exchange for a faster payment. There are many requirements you must satisfy to have any chance of getting your offer approved; however, in all cases, there must either be some doubt as to the accuracy of your tax debt, you must suffer a severe economic hardship or there must be little or no chance of the IRS ever recovering the full amount from you. Do You Owe Back Taxes? We can help!!! call or email us today to find out how we can assist you in getting your back taxes done. skag991@gmail
Posted on: Sun, 13 Apr 2014 01:49:50 +0000
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