How to File & Pay Back Taxes, Former IRS, Back Taxes Experts 1-866-700-1040
If you need to file and pay back taxes you have come to the right place.
We are comprised of tax attorneys, certified public accountants and former IRS agents and managers who have over 60 years of direct work knowledge and experience working at our favorite ex-boss with the IRS.
Our firm has over 206 years of professional tax experience and we are A+ rated by the Better Business Bureau and have been in private practice since 1982.
We handle all areas of IRS representation including the filing of back taxes and the payment of back taxes including the IRS tax settlement called the offer compromise.
How to file back taxes
Most people come to us needing to file multiple back years tax returns and the common questions that ask is “should I file them all at the same time?”
And the answer is a resounding yes.
You do this so you can close your case all that one time and in doing so you will save yourself tons of money.
Most people who have to file multiple years are hesitant because of fear or worry or they have lost their tax records to complete the filing of their tax returns. If this is your case we should be able to remove your fear and worry and file all your back years tax returns and work out a tax settlement with the Internal Revenue Service. If you have lost, stolen or damaged tax records that is no problem.
If this is the case do not be alarmed or afraid because you don’t have the all your tax records to file your back tax returns. We are tax experts in tax reconstruction in the filing of back income and business tax returns.
We have filed thousands of reconstructed tax returns and we know the exact process and we can make this very simple for you.
If you need to pay your back taxes you must fill out form 433-F
There are multiple tax options in paying your back taxes and the key to doing so is the completion of the IRS financial statement form 433-F.
The Internal Revenue Service will close no case off their enforcement computers unless they have a current and documented financial statement.
You can find that 433-F on our website. Complete it and send it to us and we will do a free tax evaluation on your case and will let you know how the IRS will treat or handle your for entity that owes tax.
Some taxpayers cannot pay back taxes
Factors that support an economic hardship determination may include:
The taxpayer is incapable of earning a living because of a long term illness, medical condition or disability, and it is reasonably foreseeable that the financial resources will be exhausted providing for care and support during the course of the condition.
The taxpayer may have a set monthly income and no other means of support and the income is exhausted each month in providing for the care of dependents.
The taxpayer has assets, but is unable to borrow against the equity in those assets, and liquidation to pay the outstanding tax liabilities would render the taxpayer unable to meet basic living expenses.
Someone in the immediate family of the taxpayer has been hit with a catastrophe.
An act of God causing an unforeseen occurrence.
Remember, each situation is different and each and every case is based on its own merit.
No two cases are ever the same.
If you cannot pay your back taxes IRS can place you into a currently non-collectible file.
IRS will review your current financial statement and may determine that at the present time your expenses exceed your income and that aligns with the national and regional standard test that IRS uses to determine hardship, payments and IRS tax debt settlement. So if this is you contact us today we will review your financial statement and see if you are a true candidate for an economic tax hardship called currently noncollectable.
IRS making payments to the Internal Revenue Service
There are many programs available to you to help you make back payments to the Internal Revenue Service.
Once again your 433F financial statement will allow IRS to see how much that monthly payment should be.
There is also another tool available to the taxpayer and that is to make a streamlined payment for those of you who owe under $50,000 and can pay IRS off within six years.
Contact us today to learn more about the program by making a payment or installment arrangement to the Internal Revenue Service.
Paying back taxes with a tax debt settlement: Offer and Compromise
An offer in compromise allows you to settle your tax debt for less than the full amount you owe. It may be a legitimate option if you can’t pay your full tax liability, or doing so creates a financial hardship.
The Internal Revenue Service will consider your unique set of facts and circumstances such as:
a. Ability to pay;
b. Income;
c. Expenses; and
d. Asset equity.
The IRS generally approve an offer in compromise when the amount offered represents the most we can expect to collect within a reasonable period of time.
You should explore all other payment options before submitting an offer in compromise. The Offer in Compromise program is not for everyone.
Make sure you are eligible for a Tax Settlement
Before the IRS will can consider your offer, you must be current with all filing and payment requirements.
Are you in an open bankruptcy proceeding
You are not eligible if you are in an open bankruptcy proceeding. Use the Offer in Compromise Pre-Qualifier to confirm your eligibility and prepare a preliminary proposal.
Submitting your offer
You’ll find step-by-step instructions and all the forms for submitting an offer in the Offer in Compromise Booklet, Form 656-B (PDF).
Your completed offer package will include:
1. Form 433-A (OIC) (individuals) or
2. 433-B (OIC) (businesses) and all required documentation as specified on the forms;
Form 656(s) – individual and business tax debt (Corporation/ LLC/ Partnership) must be submitted on separate Form 656;
3. $150 application fee (non-refundable); and
Initial payment (non-refundable) for each Form 656.
Select a payment option
Your initial payment will vary based on your offer and the payment option you choose:
Lump Sum Cash.
Submit an initial payment of 20 percent of the total offer amount with your application. Wait for written acceptance, then pay the remaining balance of the offer in five or fewer payments.
Periodic Payment.
Submit your initial payment with your application. Continue to pay the remaining balance in monthly installments while the IRS considers your offer. If accepted, continue to pay monthly until it is paid in full.
