Posts Tagged ‘payment plans’

Can’t Afford to Pay Your Taxes? IRS Offers Payment Plans and Tax Relief Options

Monday, April 13th, 2009

If you can’t afford your tax bill this year, know that the IRS offers payment options for struggling taxpayers.
While individuals are urged to file their tax returns and and pay any taxes owed by April 15, the agency is aware that the economic downturn has made this difficult for many people.

Taxpayers who do not file their tax returns by the April 15 deadline may be subject to a failure-to-file penalty.
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Posted in Seeking Professional Tax Help, Tax news and tips, Working with the IRS | 1 Comment »

Common Tax Filing Errors Cropping up on 2008 Returns Filed Early

Friday, February 13th, 2009

I received an interesting newsletter from Kiplinger with a few tax tips that I wanted to share. I also encourage you tocheck out Kiplinger for the 11 most overlooked tax deductions.

And remember, if you can’t afford to pay you taxes this year, there are options like negotiating a tax settlement or a payment plan. You can also seek professional tax help so that your account is placed under “currently not
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Posted in Tax news and tips | No Comments »

Tax Resolution Options and Alternatives

Friday, December 28th, 2007

WHICH IRS TAX SOLUTION OPTION IS BEST? ALTERNATIVES TO AN OFFER IN COMPROMISE

This is a key question which must be addressed. Left to only the IRS or the taxpayer, this question is usually not fully or adequately explored.
There are 10 options commonly employed to resolve a tax collection matter (see full explanations below):

Full pay the tax owed
File unfiled returns to replace Substitute for Returns
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Posted in Discharging Taxes in Bankruptcy, Expiration of the Collection Statute, IRS Installment Agreements, Innocent Spouse, Offers in Compromise, Penalty Abatement, Tax Resolution Options and Alternatives | No Comments »