Needing to pay past due back taxes you cannot afford, can be one of the worst situations a person or company can face. The most important thing to remember is that solutions are available for paying back taxes, even if you cannot afford to pay everything at once. Failing to file your taxes at all is a mistake. The IRS will criminally prosecute people for failure to file, and they will file a return for you that is not in your best interest. You should file any delinquent returns as soon as you can, even if you cannot send payment. Often times, we find that an individuals tax debt is reduced quite a bit by just replacing the IRS filed substitute returns, with your completed originals. Click Here For Paying Back Taxes!
If you avoid paying back taxes, the IRS will enforce collections. The IRS can force your employer to garnish your wages and send significant portions of your checks to the IRS. The IRS may also place a lien on all of your belongings. Liens can make it very difficult for you to sell your home or stocks, and impair your ability to obtain credit. Ultimately, the IRS can place levies on your bank accounts. A levy will freeze the funds in your accounts on that day, and then send the funds to the IRS after 21 days.
Get Help Paying Back Taxes
Paying back taxes avoids or stops such IRS collection. If you cannot afford to pay at once, installment payment plans can be negotiated. In some instances, the IRS will negotiate a settlement of your back taxes for a lower amount.
At Tax Tiger, our team of tax professionals can help you pay your back taxes. Negotiating installment payments with the IRS is often a frustrating and time-consuming task for non-professionals. Our tax attorneys and tax specialists have decades of experience negotiating with the IRS. Obtaining back tax settlements are a specialty of Tax Tiger; we have recently obtained settlements as low as $10. Set up a confidential consultation today and let us help you, too.
