If you are one of the many taxpayers with back tax debt, we understand your fear. And, you are not alone. The IRS knows there are millions of dollars in unpaid back taxes, interest and penalties – and they are looking to collect that debt.
Many taxpayers fall behind in paying their taxes for any of a variety of reasons – major health issues, divorce, job loss or loss of income. Small business owners may get behind in payroll taxes, which can quickly escalate into a large tax debt, including the interest and penalties the IRS assesses. The amount of tax owed can quickly add up to an amount you fear you will never be able to pay, so you quit filing your returns and hope the IRS does not notice.
Maybe you’re worried that coming forward will get you into more trouble. Maybe you think if you come forward, you will find out the amount you owe will end up being even larger than you imagined. Or you think if you keep quiet, the IRS might overlook you. Wrong.
Not doing anything is about the worst thing you can do, but what many taxpayers don’t realize is just about everything is negotiable with the IRS – if you have the JK Harris Tax Team on your side. JK Harris & Company’s Tax Team has decades of experience negotiating with the IRS.
There are several means available to settle the amount of back tax debt you owe the IRS.