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Act Now To Take Care of Your Delinquent IRS Taxes

delinquent IRS taxes


So, you made it through last year even though you find yourself in the unenviable position of either not having filed your taxes for several years or owing the IRS back taxes that you just don’t know how to pay, and the fees and penalties keep accruing. This article is for you.

It’s time to take action now.

You might be terrified and still may not be able to pay all your taxes, but you’ll want to at least make arrangements because the IRS has plans to begin private collection of certain overdue federal tax debts as early as spring of this year. It will be more favorable for you if you take the initiative. But, before you pick up the phone and call the IRS, consider hiring the services of a tax resolution specialist like Taxation Solutions.

Dealing with the IRS can be frightening and overwhelming to regular folks. But for those of us who deal with the IRS on a daily basis, it’s neither frightening nor overwhelming. It’s what we do to help those who are not professionally trained and educated. We work for people like you and can negotiate with the IRS in ways that you cannot. Our professional knowledge of the tax law and IRS requirements will help not only free up your time, but also expedite the process and protect your assets.

Don’t Let Guilt or Fear Paralyze You

First, I’d like to help you diminish any fear and feelings of guilt you may be experiencing for being delinquent with your taxes. Let me assure you, you are not alone. Taxes can sneak up on you and take you by surprise especially if you are self-employed or a contract worker.

Also, you are probably receiving quite a bit of formal written communication from the IRS. When people get overwhelmed they often don’t open this mail. It is a good idea to open anything you get from the IRS and keep it all in one place. On another note, I also want to warn you about scam artists. Do not fall for any phone calls, emails or text messages demanding payment. These are scam artists posing as IRS representatives. The IRS only contacts taxpayers through snail mail on official stationery.

A Few Things to Consider Before Taking Action

I’m offering a few things you’ll want to consider before you decide whether or not to work with a tax resolution professional. Hopefully the information below will also help you realize that you can conquer this problem with the right kind of help and guidance.

First, be aware that the IRS won’t begin to work with you unless all missing tax returns are filed. So you actually have to file any and all missing tax returns. Once you’ve decided to begin any communication with the IRS, they will want you to commit to a deadline by which to file delinquent tax returns. This is where a professional can be very helpful because the pro can find out what returns have been filed so far, what taxes you owe, and if any refunds have been applied to your delinquent taxes.

Second, if you’ve received a demand for payment from the IRS, take a deep breath when you look at the amount. In many, if not most cases, the total is most likely more than you actually owe. Most demands for payment don’t take into account any tax provisions that are in your favor.

Third, you may have the option to settle or negotiate an Offer in Compromise (OIC). This means not paying back your debt in full, but working with the IRS to agree on a lesser amount.

Worst Case Scenario

Keep in mind that failing to pay past-due taxes is a misdemeanor, unlike the criminal offense of tax evasion. Failing to pay is subject to fines up to $25,000 for each delinquent year, and could possibly even lead to a year of jail time. Rest assured though that the IRS would rather have your money than pay for your prison-time. If you take the initiative and come forward voluntarily, they’ll work with you to settle and/or set up a payment plan.

If you’ve decided this year is the year you are going to straighten out your IRS tax issues and need help, contact us for a free consultation today so you’ll know exactly what to expect.

Taxation Solutions, Inc.

12250 Queenston Blvd Suite H, Houston, TX 77095