Once you have completed your tax return you will know if you are due a refund or must pay the IRS. Getting a refund is good news, but owing IRS taxes can be a financial strain. If you do not have the money to pay the full amount of tax due, you can be tempted to not file the return. The best choice is to file your return on time with a partial payment or letter of explanation. Our Kansas tax attorneys at Instant Tax Solutions can advise you and ease your fears.
The IRS offers tax relief programs for taxpayers who are unable to pay their taxes in full by the established deadline. You have a chance to resolve your tax debt problem in a manageable way. For example, a taxpayer may qualify for a federal tax settlement known as an Offer in Compromise; or they could negotiate an IRS Installment Agreement with affordable payments. Often due to lack of knowledge, taxpayers do not take advantage of these tax relief opportunities. As a consequence, they are under constant anxiety waiting for IRS notices and threats demanding payment of their IRS taxes.
What happens if you do not pay your taxes on time and fail to make special payment arrangements with the IRS? The IRS will have no recourse but to start its collection process. First, you will receive a written notice stating the amount of IRS taxes you owe including an itemized computation of charges for penalties and interest. You will be given a deadline for paying the balance in full.
If you fail to comply with the demand for payment within the stated time frame, the IRS will take more serious collection actions to compel you to pay your IRS taxes. The IRS is authorized to place liens on your property, levy your bank accounts, implement wage garnishments and seize your assets.
Don’t let the IRS get to that point. Once you receive a demand for payment, immediately seek the help of tax lawyers in Kansas who can help you with your tax problem. Our tax attorneys specialize in back tax debt problems. They are able to offer professional advice on federal tax settlements. Your tax lawyers can work to lift a bank account levy or stop a wage garnishment. Instant Tax Solutions will deal directly with the IRS in negotiating the best federal tax settlement for your circumstances. Unpaid tax debt leads to complications only a qualified Kansas tax attorney can satisfactorily settle for their clients. Seek their advice and help.
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