Category Archives: Tax Debt

IRS Tips to Help People Pay Their Taxes

What to do if you owe the IRS taxes? If you owe tax, the IRS offers safe and easy ways to pay. Check out these payment tips: Pay your tax bill.  If you get a bill, you should pay it as soon as you can. You should always try to pay in full to avoid any… Read More »

What if I can’t pay my taxes to IRS?

What if I can’t pay my taxes? Don’t panic. If you cannot pay the full amount of taxes you owe, you should still file your return by the deadline and pay as much as you can to avoid penalties and interest. You also should contact the IRS to discuss your payment options at 1-800-829-1040 FREE.   Short… Read More »

Who Can Represent You Before the IRS?

Many people use a tax professional to prepare their taxes. Tax professionals with an IRS Preparer Tax Identification Number (PTIN) can prepare a return for a fee. If you choose a tax pro, you should know who can represent you before the IRS. There are new rules this year, so the IRS wants you to… Read More »

How long does IRS have to collect taxes?

As a general rule, there is a ten year statute of limitations on IRS collections. This means that the IRS can attempt to collect your unpaid taxes for up to ten years from the date they were assessed. Subject to some important exceptions, once the ten years are up, the IRS has to stop its… Read More »

Monthly IRS Tax Payments, Tax Debt, Installment Agreements

If you’re financially unable to pay your tax debt immediately, you can make monthly payments through an installment agreement. As long as you pay your tax debt in full, you can reduce or eliminate your payment of penalties or interest, and avoid the fee associated with setting up the agreement. Before applying for any payment agreement, you must… Read More »

Form 9465 IRS Installment Agreement Request

Form 9465 is the IRS Installment Agreement Request form that is used to help settle tax debt. If you owe $50,000 or less, you may be able to establish an installment agreement online, even if you have not yet received a bill for your taxes. Go to IRS.gov to apply to pay online.   What is… Read More »

What Kind of Help Can Low Income Taxpayers Receive

Low income taxpayer means an individual whose income does not exceed 250 percent of the poverty level, as determined in accordance with official guidance published by the federal government. Net earnings from a sole proprietorship, a single shareholder S-corporation, or a single member LLC are included in income for purposes of determining if a taxpayer… Read More »

Information for Taxpayers Seeking LITC Services

If you are a low income taxpayer who needs assistance in resolving a tax dispute with the IRS and you cannot afford representation, or if you speak English as a second language and need help understanding your taxpayer rights and responsibilities, you may qualify for help from a Low Income Taxpayer Clinic (LITC) that provides… Read More »

Borrowing and selling assets to pay IRS taxes

Borrowing and selling assets to pay taxes. If the Notice of Federal Tax Lien is filed, this is more complicated, so I want to discuss discharges and subordinations.   Selling Assets to Pay Taxes Let’s start by discussing selling assets. If the proceeds are enough to full pay, call the centralized lien unit at the… Read More »