Owing the IRS Is Manageable With a Plan
Owing back taxes can feel overwhelming, especially when the balance grows with penalties and interest. Still, the IRS has established procedures for taxpayers who cannot pay in full, and a clear understanding of your situation is the best place to begin. Botwinick & Botwinick, CPAs PC helps Atlanta individuals and business owners deal with unpaid tax in an orderly way.
Step One: Know the Facts
Before deciding what to do, you need to know what you owe and for which years. We can review your notices, compare them with your returns and, with your authorization, obtain your account records from the IRS. Sometimes the balance is not what you assumed, and occasionally it contains errors worth correcting. See Get Your IRS File.
Options That May Be Available
What works for one taxpayer may not fit another. Depending on your finances, the IRS offers options such as:
- Paying in full, which stops further penalties and interest from building on the balance
- An installment agreement, which spreads payment over time (see IRS Payment Plan)
- Temporary delay of collection, in limited cases of hardship
- An Offer in Compromise, which allows some taxpayers to settle for less than the full balance. The IRS accepts these only in certain circumstances, and we cannot tell you in advance whether you would qualify.
Staying Current
Any arrangement with the IRS typically depends on filing all required returns and keeping up with current-year taxes. If you have unfiled years, address them first. See Non-Filed Tax Returns. Better planning going forward also helps, and our tax planning service can help you avoid repeating the problem.
How We Work With You
- We listen and review your complete financial picture.
- We explain each option, including its drawbacks.
- With your written authorization, we communicate with the IRS for you.
- We keep you informed about where your case stands.
We do not promise to reduce or eliminate what you owe. We promise honest advice and careful work.