Question: I’ve been getting notices from the IRS saying I owe them for back taxes. This is stressing me out and starting to affect other areas of my life. What should I do?
Answer: Owing money to the IRS or State can be intimidating and throw your life out of whack but ignoring these notices will only make things worse. The IRS has several debt settlement options but it’s important to take action before they garnish your paycheck and/or levy your bank account. One of these options is an installment agreement payment plan.
The IRS has 10 years to collect on a tax liability from the date you filed your return and are relentless when they think you have their money. There are several types of installment agreements. One of them, is called a “partial pay” installment agreement where it’s possible to reduce the total outstanding balance due to the IRS based on how much time is left on the 10 years to collect. The IRS does not “advertise” this option for obvious reasons. We know how to obtain this solution but you must take the first step and call us to see if you qualify.
You need a professional expert to help you deal with the IRS. You can’t do this on your own, you’ll get crushed. As a matter of fact, going or talking to the IRS without representation could be the worst thing you can do. It’s like going to court without a lawyer. The IRS does not have your best interests at heart.