Many people have problems with back taxes — owing money to the IRS and to state and local taxing authorities. And there is help for that problem. A back tax problem can start with something simple such as incorrectly filling out your tax return or withholding form with your employer. Or, your back tax problem could have started because you chose to ignore a W2G from a casino or a 1099 from a side hustle. Regardless of how it happened, the IRS can always identify your back tax problem and will try to collect.
The IRS has ten years to collect unpaid taxes. In the meantime, it can impact your credit score and give you a lot of sleepless nights as the IRS takes actions that could include seizing bank accounts, wage garnishments, and property seizures. It’s not pretty.
But this is when tax professionals and legal advice can take the pressure off you and get you a resolution. Penalties and interest can even be reduced or forgiven. And relief is possible with special programs that can be worked out with the IRS and other taxing authorities.
Relief is possible. Find out how with this quick survey.
How Can You Resolve Your Back Taxes Problem?
You could try to contact the IRS or your local taxing authority on your own, but do you really want to? You got yourself into trouble, so what makes you think you can get yourself out of trouble. Even if you do get an offer of help from the IRS, how do you know it’s the best solution for you? The answer is — you don’t know. You do need to consult with tax professionals who really know how to work with and negotiate with the IRS and work with its various Fresh Start and Offer In Compromise programs.