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  • What To Do If You Owe Back Taxes

  • What To Do If You Owe Back Taxes

    There is nothing scarier than going to the mail box and finding a letter from the I.R.S.  If you owe back taxes that you can't pay, you should know that the I.R.S. offers several tax relief options that can help you settle your tax debt.  Here is what you need to know step by step:

    Find Out How Much You Owe

    The first step in resolving your tax issues is to find out the total amount that you owe.  You can set up an online account at to view your tax account and what the I.R.S. claims that you owe.  Or your tax professional can pull these records with a valid Power of Attorney on file.

    Get Into Compliance

    If you have returns that need to be filed, you will want to get those taken care of as soon as possible.  If you are due refunds on those returns , you may be able to apply the refund to the back tax debt.  If you have a balance due on the unfiled returns, you will want to know those amounts since they can have an impact on your tax resoultion options.

    Know Your Options

    There are several options that may be available to you to handle your back tax debt depending on your situation.  These include:

    • Installment Agreement to pay over time
    • Currently Not Collectible Status
    • Offer In Compromise to settle the debt for less than the full amount owed
    • Penalty Abatement Options

    Get Help From A Tax Resolution Professional

    The tax resolution specialists at Bottom Line Tax Solutions can help determine what relief options you qualify for.  Contact our office today to set up a Free Tax Debt Analysis.  


    Schedule a Consultation

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