IRS Currently Not Collectible Status: What Are The Pros And Cons?
March 16, 2023
Each year, almost 30 million taxpayers file a return and owe taxes. Most people pay the taxes when they file, but about 4 million to 5 million taxpayers are unable to pay. About 3 million of these people set up payment plans with the IRS. These payment plans are known as installment agreements, and are…
Unpaid IRS Taxes: What You Should Know
March 2, 2023
If I can’t pay my income taxes, should I still file my return? The penalty for an unfiled return is much greater than the penalty for not paying. If you fail to file your return, the IRS charges a monthly penalty that equals 5% of your balance. The penalty starts on the date following the…
What You Need To Know About The Offer In Compromise
February 7, 2023
If you are experiencing tax debt, you are not alone. Tax debt is a common problem to have for both individuals and businesses. If you have no idea how you are going to pay it off, you are again not alone. You may be starting to feel like the IRS is going to come after…