You might owe back taxes if you’ve completely failed to file or you’ve neglected to pay one or more tax bills. But what are back taxes? Back taxes are unpaid taxes that you owe to the IRS.
If you owe back taxes, it can feel like you’ve dug a hole you can’t get out of. However, that is not the case. Fortunately, there are a variety of ways you can take control of your IRS back taxes, no matter how much you owe. The main thing to keep in mind is that you should take action now and figure out a way to start paying your back taxes because the longer you wait, the bigger your problem becomes. From compounding interest to escalated levies and legal consequences, you do not want to remain delinquent with the IRS. If you feel like your back taxes have gotten out of control, you’re not alone.
At Community Tax, our experts can help you find the best debt resolution method for your circumstances and help you get back into good standing with the IRS. We can help you arrange an installment agreement (even if you owe more than $50,000 in unpaid taxes), offer in compromise (a debt settlement offer), or a temporary delay of action (collection of your back taxes will be paused). With our help, paying back taxes will be much easier to handle.