Owe Money To the IRS For Back Taxes + Top 10 Tips, Former IRS

November 14, 2018
Written by: Fresh Start Tax
Fresh Start Tax

 

Owe money to the Internal Revenue Service for back taxes, as a former IRS agent here are some key suggestions and tips for you.

 

1. One of the first things you want to do is make sure all your tax returns are filed. Internal Revenue Service will generally not work with you until all tax returns are filed. If you do not have all your tax records you can we trust an IRS transcript and they will provide your income and wage report for the last six years. if you are self-employed and need help we can complete a tax reconstruction  for you to ensure you pay the lowest amount allowed by law.

2. Make sure you have the proper withholding or estimated tax payments currently being taken out so you are up to date, incurring no future debt with the Internal Revenue Service.

3. Make sure that the tax bill  you have received from the Internal Revenue Service is accurate. you want to pull out your old tax return and compare it to the current tax bill you have to ensure the Internal Revenue Service has calculated the right assessment.

4. Be familiar with the IRS financial statement and be prepared to give Internal Revenue Service a 433a or 433b  if asked for.

5. Understand the various payment agreements or installment agreement arrangements  offered by the Internal Revenue Service. You can call our office today and we could review the various programs.

6. If you do not have money to pay your back tax bill you may be able qualify for an IRS hardship or another name for this program is called currently not collectible. IRS has the ability to freeze your current case and review your case two or three years later. The good news is that’s a short-term solution the bad news is penalties and interest continue to run.

7. You should find out whether you are an offer in compromise candidate to settle your debt for pennies on the dollar. The only way to make sure you do this is to check with the true tax professional.

8. Some people are eligible to file a bankruptcy proceeding. The bankruptcy laws are a bit complex and few  most people do not know that federal taxes can be discharged in bankruptcy. Generally, the taxes must be three years or older, assessed for 240 days and file for the last two years.

You can check with our firm or to consult a bankruptcy attorney to see if this is applicable for you.

9. One of the most important things that you can do is to contact a professional firm,’s that is people who have worked thousands of cases to find out what is the best plan or settlement could be based on your facts and circumstances.

10.  More than anything understand the process. Many times there is a short-term solution to get IRS off your back and a long-term solution.

If your case is complicated do not contact the IRS. Let tax representative take over your case so you do not get bullied by Internal Revenue Service.

Call us today for a free initial tax consultation and we will walk you through the different processes solutions to get the best favorable settlement from the Internal Revenue Service.

When you call our office you will speak to former IRS agents and managers you know the system and of work hundreds upon hundreds of cases since 1982.

We are a full-service tax firm that can take care of all your accounting, tax and bookkeeping needs.

Since 1982, we have been serving the nation for IRS matters, problems and tax solutions. We are A+ rated by the Better Business Bureau.

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