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Tax Help With IRS Tax Debt | Tax Advocate | Florida

Updated: Nov 11

FLAT FEE TAX RELIEF

Coast to Coast Tax Relief Programs


Can't Pay My Taxes, What Can Be Done?


Should you find yourself unable to pay the taxes you owe, the IRS has several tax relief options available. Which option might work for you generally depends on how much you owe and your current financial situation. Each tax relief option has different requirements and some have fees.

What Can I Do? What Should I Do?


One tax relief option is the Installment Agreement. If you can’t pay the taxes you owe, the IRS has payment options available. Which payment plan option might work for you generally depends on how much you owe and your current financial situation. As always with the IRS, each option has different requirements and some have fees.

The most important thing you can do is take immediate action.

Most tax relief options for paying off a tax debt work best if you are proactive. By acting immediately, a taxpayer will be armed with all of their options before they make an informed decision. You will be able to help lower your tax burden and keep the IRS from acting to collect the debt. This page is provided by the tax professionals at Flat Fee Tax Relief. Our tax pros have been providing valuable IRS tax debt help at very affordable fees for more than a decade. Our teams are strategically located in Clearwater, Florida as well as San Diego, California. This allows our IRS Tax Attorneys to be available to our clients and the IRS from 8 A.M. Eastern to 6 P.M. Pacific time. This is a huge advantage when stopping an IRS garnishment in one day.


Missing Tax Returns. If you need to file missing tax returns, you must, even if you'll owe taxes when you file.

You should file your tax return on time, with or without a payment — the IRS can charge penalties for filing late. The IRS also charges daily interest on unpaid tax bills, so the longer you wait, the more interest you'll owe. Should you fail to file a return, the IRS will create a tax debt for you by filing a "Substitute for Return." A "Substitute" will give the IRS the authority to enforce collectionand there will be additional "failure to file" penalties. First: Figure out how much you can pay.

You need to consider your complete financial situation. Make a list of your assets and income, and consider other debts you might owe to figure out how much you can pay on your tax debt.

Before you enter into any kind of payment agreement, be sure you can pay that amount every month, on time. If you end up defaulting with the IRS, you will be in worse shape. Don't agree to an Installment Agreement with the IRS without consulting with a tax professionals first. If you can’t pay the full amount now, but can pay it within 120 days.

If you can’t pay your tax debt in full right now, the IRS offers additional time (up to 120 days) to pay in full. It’s not a formal payment option, so there’s no application and no fee, but interest and any penalties continue to accrue until the tax debt is paid in full.

For information on the additional time up to 120 days, call the IRS at 800-829-1040 (individuals) or 800-829-4933 (businesses).

If you need to make monthly payments to pay off your debt.

You can ask for an Installment Agreement, which is a fixed monthly payment. This is a formal agreement with the IRS and involves an application process and fees.

You won’t be able to pay off the full debt.


Offer in Compromise

For the IRS to consider an Offer in Compromise, you must apply, and must generally pay certain fees and a portion of the debt. You must then file missing tax returns (usually the last six years) and make payments on time for five years after the IRS accepts your settlement offer.

If you can’t make any sort of payment now:

The IRS understands there may be times when you can’t pay a tax debt due to your current financial situation. If the IRS agrees that you can’t pay your taxes and pay your reasonable living expenses, it may place your account in a status called Currently Not Collectible. The IRS won't try to collect payment from you while your account is in Currently Not Collectible status, but your tax debt doesn't not go away unless the Statute of Limitations runs out during this status. Penalties and interest will continue to grow.


The IRS wants to accomplish 2 goals: Collect money and even more importantly, close a file. An Installment Agreement, an Offer in Compromise and Currently not Collectible accomplishes those goals.


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IRS Tax Relief Programs

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IRS Tax Relief Programs