Frequently Asked Questions on Back Taxes
Provided below is a list of common questions asked when it is time to resolve any owed back taxes. If you do not see your question listed below, you can either contact us through our form or use the search box on this page to find a suitable answer to your question.
What happens if I forget to file my taxes in time?
If you missed the deadline to file your taxes on April 15, file them as soon as you remember so you do not incur serious penalties and interest from the IRS.
Where can I learn how much I owe the IRS in taxes?
If you know that you owe money but you are unsure how much, you can easily call the local IRS branch and they will provide you with the correct amount that you owe.
What If I am Unable to pay the amount I owe the IRS in full?
If you are in debt to the IRS and are unable to pay in full, do not worry because there are alternate options. The IRS understands that not everyone has the financial ability to pay tax liabilities in full. Because of this, the IRS provides a number of different payment options with one that will work for everyone.
What should I do if I have received an IRS letter?
Not all letters from the IRS mean trouble; however, if the IRS does contact you through the mail, it is important to read it thoroughly to avoid the possibility of a problem. Depending on the letter sent to you, there are specific actions that you will have to do, which are often outlined in the letter.
What should I do if I receive an email or letter from the IRS about intent to levy?
If you are delivered a letter with intent to levy, it means that there was a problem with your taxes, such as you did not pay, and you have not done anything to rectify this situation. Yes, this is a very bad situation, however, if you take the necessary steps to remedy this situation, you can have the intent to levy removed and get back into good standing with the IRS.
What is my next step if the IRS goes forward and garnishes my wages?
There are options that you have, if the IRS decides to garnish your wages. If the IRS takes the necessary steps to garnish wages, it means that your tax debt has remained unresolved. There are steps that you can take to eliminate the garnishment and settle your taxes.
What can I do if the IRS placed a levy on my personal bank account?
It is vital that if there is a levy on your bank account, you contact the IRS and find out what options there are to remove the levy and find a beneficial solution. We have experts available if you need further assistance.
What can I do if the IRS sends me a Notice of Federal Tax Lien?
If you have received a notice from the IRS about placing a federal tax lien, do not ignore it, as it is a serious matter. If you do not understand what a federal tax lien is or how it can affect you if not solved, you can contact one of our professional tax specialists to find out what to do next. If not you will very unhappy with the end result.
Is it possible for me to settle my taxes for less money than I owe?
There are ways for you to settle your taxes with the IRS for less money than what is initially owed. It is not available for everyone, and you need to meet their strict list of requirements to be eligible for this option.
Is it possible to remove tax penalties placed on the amount owed to the IRS?
Through a process known as an abatement, you can have the IRS tax penalties removed. It can be a very easy process but you need to have the IRS agree with this filing.
What should I look for when locating a tax settlement company?
There are many important traits that you need to find in a tax settlement company, including professionalism and dependability. BY CLICKING HERE, you can learn about how to locate a company that will benefit you and your current tax situation.
What is the function of a tax resolution company?
By understanding what the purpose of a tax resolution company is and what it does, can be important in making the choice to hire one of these companies. Tax resolution companies can provide you with many benefits that assist taxpayers depending on their current situation.
What If I am unable to pay my business back payroll taxes?
Because paying business back payroll taxes is very vital, it is necessary to locate the right actions to stay on the good side of the IRS.