When filing our taxes we must follow the IRS guidelines or else we will have problems with the Internal Revenue Service. Sometimes there are reasons that are beyond our control as to why we owe money on our tax return. Every year the federal government keeps on reminding us to make sure that we file our taxes correctly and on time.
Each year, by the April 15th deadline, about 15% of taxpayers did not follow the IRS Guidelines. Due to this, some of them will end up owing back taxes and some did not file at all. The Internal Revenue Service gives taxpayers a chance to file an extension if taxpayers are unable to pay or they did not file.
There are many reasons why a taxpayer could end up owing the IRS even if they filed their tax return on time or if they paid their taxes.
- Miscalculation of the right amount of taxes.
- Filing your income tax return, but details were missed and not reported on your return.
- The Internal Revenue Service found some discrepancies on your tax return after auditing the return.
- The full amount of the tax debt was paid but the additional penalties and interest that the Internal Revenue Service added from previous returns was not calculated.
Although a tax payer tries so hard to make everything right, there still may be a problem that you need to address to the Internal Revenue Service before it becomes complicated, which may lead to garnishments and bank levies.
Remember that unfortunately the Internal Revenue Service can take your house, your car and even freeze your bank accounts or garnish your salary without asking the court for permission. The IRS has the authority and the power to take whatever taxpayers have in order to pay back their tax debt.
You can plea your case to the Internal Revenue Service if you did not know about the penalties, but dealing with the IRS is extremely difficult and this is why you need a Tax Attorney, Enrolled Agent, or a CPA with the knowledge and experience in representing tax payers. This is the best way to resolve all tax debt problems and receive the best back-tax relief help.