What to do when you owe the irs?

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29th Oct 2009 by Mark P. Cussen, CFP, CMFC

Taxpayers who are in arrears with the IRS have more options than they realize. The first course of action is to call the IRS and set up a payment plan, which is relatively easy to do. If you are not able to pay back the taxes you owe at all, then you may be able to perform an offer-in-compromise instead and get the IRS to settle for a lower tax payment. If you disagree with the tax bill presented to you by the IRS, then you can take your case to the Office of Appeals, or even take them to Tax Court.

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27th Oct 2009 In Tax 1 Answers | 539 Views
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