RefundtalkAn Offer in Compromise can be an effective way for individuals and businesses to settle federal tax debt. This federal program allows taxpayers to enter into an agreement, with the IRS, that settles a tax debt for less than the full amount owed. Sometimes taxpayers are able to settle for significantly less, especially if they have low…
Category Archives: Tax Debt
How to Pay Your Federal Owed Taxes
Each year, the IRS collects payments from millions of money-earning, taxpaying Americans. And while, in days of old, payment had to be completed via check or cash payment, today there are more ways to pay the IRS than just about any money collecting service out there. So if you’d like to explore the best way…
IRS Tax Payment Plan: Everything You Need to Know
Have you received a Notice of Deficiency from the IRS? Taxpayer debt is not an uncommon situation. Many American taxpayers have found themselves in debt with the IRS and feel unsure where to turn. Taxpayers who remain in debt for an extended period of time can face tax liens and levies. It’s a very difficult place to…
Why Do I Owe A Penalty And What Can I Do About It?
I sent a payment to the IRS. Why did I get a bill? If you mailed payment to the IRS on or before July 15, it may still be unopened in the backlog of mail the IRS is processing due to COVID-19. The IRS will process your payment with the date the IRS received it. Do…
IRS Free File helps seniors and retires do their taxes for free
Seniors and retirees whose income is under $69,000 a year should explore IRS Free File for free online tax preparation. Seniors are one of the key constituents for Free File which has served 57 million taxpayers and saved them $1.7 billion since the online filing service debuted in 2003. Free File – which features 10…
What To Do If You Owe Taxes and You Can Not Pay By The Deadline
Are you unable to pay your taxes before the fast-approaching filing deadline? Are your tax bills amounting to an outrageous sum that you cannot be able to clear in time? Whatever the case, pending bills, more so taxes, can be quite the headache because failure to pay up can damage your credit score, cost you…
What To Do When You Owe The IRS
If you owe the IRS a substantial amount, be sure not to ignore it. Review options such as installment agreements, extensions, or personal loans, and always seek legal advice from a professional tax attorney. While you may want to put off dealing with tax debt and that sinking feeling that you owe the IRS, not…
Options To Pay Your Federal Taxes
If you aren’t one of those lucky Americans who get a tax refund from the IRS, you might be wondering how you go about paying your balance due. Here are some electronic and manual payment options that you can use to pay your federal income tax: Electronic Funds Withdrawal – You can pay using funds from…
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