Steps To Solve Problems With Past Due Taxes

By Author: jhoana cooper
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Having past due taxes should be stricken off your to do list. This is a problem that can cause a lot of headaches for you. However, no matter how diligent you are on paying your taxes there will be times when paying your taxes on time can be very difficult thus resulting to back taxes owed to the IRS. You need not worry too much though because there are several solutions to this problem. For one, you can hire a tax attorney to handle your case. You can also try the following steps before you hire a tax attorney.

The first thing that you can do is to review IRS regulations and laws and find out if you are eligible for tax discharge. It is possible for your past due taxes to be discharged completely so you will not pay anything at all. However, there are certain requirements that you have to meet before you can apply for tax discharge. First, your past due taxes should be at least three years overdue. Second, you have to show that the delinquency is not due to fraudulent reasons or tax evasion. This means you have to show proof that you really can not pay your taxes anymore because of economic troubles and that ...
... your prior tax returns are not fraudulent. Discharge of past due taxes are specifically created for those who really can not pay owed taxes.

Another way to settle your past due taxes is to negotiate with the IRS and see if you can set up a payment plan. In most cases, this option is the best route that you can take in settling your issues with the IRS. The tax service is very much willing to help you in setting up a tax due payment plan. If you show that you really want to settle your account with the IRS, then you can get favorable payment terms. If you are going to take this option, it would be best to consult a tax attorney or get free advice from tax support services. In most cases though, the IRS will be able to provide assistance for you in setting up a payment plan.

If your tax problems are really serious, then it is probably time to contemplate getting the full service of a tax attorney. There are cases when simple negotiations will not work anymore. In cases like these, a competent tax attorney can help you to fix things up pretty quickly. You will also need legal advice if you are contemplating filing for bankruptcy so you can discharge your past due taxes in one swift stroke. This should be your last option because filing for bankruptcy can be very complicated sometime. As mandated by law, once you file for bankruptcy, the IRS will be compelled to withhold collecting past due taxes from you.

Paying your taxes diligently is the best way to avoid getting into trouble with tax laws. But if you are still unable to pay your taxes on time resulting to several back taxes owed to the IRS, then you have to take active steps to solve your tax problems by seeking professional tax advice or hiring a tax attorney.
Are you in need of professional tax advice from a tax attorney ? Visit our website today so we can provide help for you in handling your past due taxes problems.