Warning: Use of undefined constant stat - assumed 'stat' (this will throw an Error in a future version of PHP) in /nfs/c08/h03/mnt/171054/domains/elevated.news/html/wp-content/themes/supernews/acmethemes/core/jetpack.php on line 15
Owe taxes you can’t pay? You have options - Elevated.news
You are here
Owe taxes you can’t pay? You have options Business 

Owe taxes you can’t pay? You have options

Do you or your business owe taxes you can’t pay? Have you received a collection notice from the IRS or had your bank accounts garnished? First, file all your tax returns. People often delay filing tax returns if it will result in a tax bill they are unable to pay, which increases the penalties and interest. Plus, all returns must be filed before utilizing the IRS’ resolution options.

If taxes are not paid right away, the IRS will begin collections by mailing a series of four to six collection notices, each one more threatening than the last. The final notice comes with a 30-day appeal right. Except in special circumstances, the IRS cannot begin forced collection efforts until that appeal right expires or while the appeal is pending.

Read full article HERE

Related posts