Do you owe money to the IRS? It can be a scary situation to be in. There are a number of different reasons that you may fall into debt with the IRS. Perhaps you missed the tax deadline, and hoped the IRS wouldn’t notice. Or, you filed incorrectly, and failed to correct your mistake. Maybe, come tax season, you found that you were unable to pay the amount of taxes you owed, and weren’t sure what to do.
No matter what the reason is that you’ve fallen into tax debt, it’s important to know that all hope is not lost. The IRS offers many solutions to help Americans get on top of their tax debt. This may include solutions such as an IRS installment agreement, where you work with the IRS to craft a plan to pay back your debt in installments over an extended period of time.