Should I contact the IRS if I owe back taxes?

Should I contact the IRS if I owe back taxes?
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1 Answer

Answer :

Yes definitely contact the IRS with regards to taxes. Often you can workout a payment plan. Many times penalties and interest can be removed. When these are added they increase the taxes that are owed. You can't work something out if you avoid them. You could also consult a tax attorney. This will be an added expense. However if you feel more comfortable, you can have a tax attorney help you will the IRS. They can often negotiate favorable terms for you regarding the back taxes. Good luck!
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Related questions

I had a payment plan in place to pay my back taxes owed to the IRS (approx 1500) they took my Stimulus Ck and I think my balance might be around 1200 - 1500. How do I find out what I owe them today. and how do i re-enter a new agreement with them?

Description : I had a payment plan in place to pay my back taxes owed to the IRS (approx 1500) they took my Stimulus Ck and I think my balance might be around 1200 - 1500. How do I find out what I owe them today. and how do i re-enter a new agreement with them?

Last Answer : Call the IRS and talk to an agent to find out your balance and how to enter a new agreement with them.

When you pay more than you owe in taxes and the IRS gives you money back, that money is called _________. A. A tax refund B. Gross pay C. Estimated tax D. An audit?

Description : When you pay more than you owe in taxes and the IRS gives you money back, that money is called _________. A. A tax refund B. Gross pay C. Estimated tax D. An audit?

Last Answer : A. A tax refund

Can I find out how much back tax I owe on the IRS Web site?

Description : Can I find out how much back tax I owe on the IRS Web site?

Last Answer : The best way to find out how much back tax you owe is to call the IRS or visit your local office. You can also contact a professional tax team, like a tax attorney or CPA, to act ... also request your Record of Account and Account Transcript which will give you a summary of your account activity.

i want to know if I owe the IRS?

Description : i want to know if I owe the IRS?

Last Answer : The best way to how if you owe the IRS money is to contact them. You can try calling them or visiting their website. There should also be local offices in your area. You can find the locations from the ... as well. If you do owe, you can then try to set up an agreeable payment arrangment. Good luck!

Can tax software help me even if I owe the IRS?

Description : Can tax software help me even if I owe the IRS?

Last Answer : If you owe the irs you should contact a tax professional.

How long does it take the irs to take there money you owe them Will my tax refund be offset even though the irs process my tax return?

Description : How long does it take the irs to take there money you owe them Will my tax refund be offset even though the irs process my tax return?

Last Answer : Yes if you owe the IRS money your tax refund will be offset, and usually if they are aware that you owe them money, they will offset it immediately.

What could happen to me if they find out that I owe the IRS?

Description : What could happen to me if they find out that I owe the IRS?

Last Answer : The IRS can actually garnish your wages if you owe back taxes. However, they will work with you on an installment plan if you need it. The IRS wants their money so they will try to give you a discount if you ask for it.

How many democratic congressmen owe back taxes?

Description : How many democratic congressmen owe back taxes?

Last Answer : What is the answer ?

My ex wife owe over $20,000.00 in back taxes. Years owed 95,98,99, and 2000.I recently filed this missing years and now have a fairly accurate assessment of what we owe. Unable to pay without filing Chapter 7 or 13.Income is stretched to the limit. ?

Description : My ex wife owe over $20,000.00 in back taxes. Years owed 95,98,99, and 2000.I recently filed this missing years and now have a fairly accurate assessment of what we owe. Unable to pay without filing Chapter 7 or 13.Income is stretched to the limit. ?

Last Answer : If she is your ex-wife, you probably aren't liable for her back taxes. Usually, your legal separation agreement will stipulate that you are each responsible for your own taxes. If so, I would think you're off the hook for this.

i am selfemployed and i owe taxes for 2005 and 2006 i cannot pay them because of back and knee apoerations and filed for disability and the keep adding on penality and interest can you help me get them reduced?

Description : i am selfemployed and i owe taxes for 2005 and 2006 i cannot pay them because of back and knee apoerations and filed for disability and the keep adding on penality and interest can you help me get them reduced?

Last Answer : first locate a disability and tax advisor or tax lawyer.they will be able to tell you and advise you ways the IRS wont

Need to reduce to amount of back taxes that I owe. I owe too much.?

Description : Need to reduce to amount of back taxes that I owe. I owe too much.?

Last Answer : Owing back taxes is not very fun. To get rid of this debt, or reduce it (which is probably more likely), talk to a local tax professional. Many cities have debt specialists that offer free services too. Check one out.

What kind of attorney would I need to help with back taxes I owe?

Description : What kind of attorney would I need to help with back taxes I owe?

Last Answer : You would need a skilled tax attorney to help you with back taxes that you owe. An attorney will be able to help you far better than you can help yourself because it is their job to know everything about taxes.

What are the penalties for owing $10,000 in back taxes to the IRS, for 2 years?

Description : What are the penalties for owing $10,000 in back taxes to the IRS, for 2 years?

Last Answer : It is going to depend on if they are personal or Business Taxes, and it will depend on how late you are in filing for the late period or extension period.

Can an IRS tax attorney file an appeal for back taxes?

Description : Can an IRS tax attorney file an appeal for back taxes?

Last Answer : Yes, an IRS tax attorney can help you file an appeal. You should talk to the IRS tax attorney and ask him to help you file an appeal. Filing the appeal probably can be done through him.

How do I file back taxes with the IRS?

Description : How do I file back taxes with the IRS?

Last Answer : You would have to file a amendment to that years tax. You can go to the IRS website for the correct forms.

Confused: Why would I owe taxes?

Description : Confused: Why would I owe taxes?

Last Answer : answer:In my head, glancing at the EZ form and the tax table it looks like you owe $963. I could easily wrong. Hopefully someone who has a pen and paper can do a better calculation for you. I didn't ... it's that simple then it looks like you owe $388. Not sure? What number did you come up with?

How do I find out exactly how much I will owe in taxes next year?

Description : How do I find out exactly how much I will owe in taxes next year?

Last Answer : For me, when I claim 1, I end up with a sizable refund. I don't like getting a refund because that means the government withheld money that is rightfully mine that I could have invested ... they start asking questions and requiring documentation - this year I owe $240 so it worked out rather fine.

What if I don't file my state taxes and the state would owe me money?

Description : What if I don't file my state taxes and the state would owe me money?

Last Answer : Nope. If they owe you money and you don’t file you are fine. I’m not sure why you wouldn’t since you have already done the hard part (filling out the forms).

How is it possible that I owe so much money in taxes?

Description : How is it possible that I owe so much money in taxes?

Last Answer : What kind of question is that? What kind of answer are you looking for?

How do I make arrangements for tax payment for taxes I owe to California Thanks, VHar?

Description : How do I make arrangements for tax payment for taxes I owe to California Thanks, VHar?

Last Answer : How do I make arrangements for tax payments for taxes I owe to California?

on my city tax, if i owe no taxes and aren't getting a refund, can i file a day late?

Description : on my city tax, if i owe no taxes and aren't getting a refund, can i file a day late?

Last Answer : No you need to file anyway or depending on your city they will pentalize you for being late then have to pay a pentality for being late in filing

how can i find out what i owe taxes on for the year 2003?

Description : how can i find out what i owe taxes on for the year 2003?

Last Answer : Learning tax credit for which your family is eligible, you can only take the credit for the amount you owe in taxes.the following website gives more info abt www.nsuok.edu/finaid/incometaxcredit.html.

I have delinquent property taxes and they want to take my home. what can i do I owe 2 years worth. I went thru a bad divorce and could not pay.?

Description : I have delinquent property taxes and they want to take my home. what can i do I owe 2 years worth. I went thru a bad divorce and could not pay.?

Last Answer : immediately go to your family lawyer and explain your position, and ask some more time for that one it is better idea.

Can a tax chart help you to figure out how much money you owe in taxes?

Description : Can a tax chart help you to figure out how much money you owe in taxes?

Last Answer : Yes, a tax chart help you to figure out how much money you owe in taxes. You can find a tax chart online.

Find Out If You Owe Taxes On A Relocation Package?

Description : Find Out If You Owe Taxes On A Relocation Package?

Last Answer : Getting a relocation stipend from an employer can help you offset your moving costs. However, many employees do not realize that they have to pay taxes on a relocation bonus. Depending on how your employer ... doing your taxes less stressful. You do not want to be surprised with a high tax bill.

If a person you owe money to has died, and the deceased DID NOT have a will, do you still have to pay back the loan?

Description : If a person you owe money to has died, and the deceased DID NOT have a will, do you still have to pay back the loan?

Last Answer : You still owe the estate. The court will decide who gets the money but the debt is property of the estate.

if i owe back pay for child support and i receive paybay for disability for social security will the automatically take it from my check?

Description : if i owe back pay for child support and i receive paybay for disability for social security will the automatically take it from my check?

Last Answer : Your disability benefits will not be attached. You should, however, make an arrangement to start making payments against the child support arrears. Otherwise, the state can attach your wages, your assets, ... jailed. Any effort you make to support your child is looked up with favor by the court.

can I stop child support from garnishing my wages if I don't owe anything in back child support ?

Description : can I stop child support from garnishing my wages if I don't owe anything in back child support ?

Last Answer : Court dates can be postponed for any number of reasons. If it appears this is a stalling tactic by the other party, you may want to have your lawyer file contempt.

All those people who want to be heard: do you think you owe them a hearing?

Description : All those people who want to be heard: do you think you owe them a hearing?

Last Answer : Good question.

What happens to people who owe money to drug dealers?

Description : What happens to people who owe money to drug dealers?

Last Answer : answer:Bad choices, no matter the age, can shorten the lifespan. Drug dealers are not likely to cut them loose. The bad debts with a dealer can become statistics. That is how the dealer collect from the ... I'm sorry you are in the position you are in and sorry for the person you are asking about.

Do you think people with specific beliefs owe an explanation to others?

Description : Do you think people with specific beliefs owe an explanation to others?

Last Answer : answer:If people present something as a fact/truth, I want evidence. If it’s a belief, I’m curious where it comes from but I don’t expect evidence. I may ask, but I won’t care as much as if someone’s trying to tell me something is true without providing evidence.

When you buy a business is it typical for the loan to say if you are late 15 days you owe the entire balance in full?

Description : When you buy a business is it typical for the loan to say if you are late 15 days you owe the entire balance in full?

Last Answer : answer:I know literally nothing about business law. Logically, I have to wonder how it would benefit the seller to sell their business, turn it over to whoever to do the gods know what to it, run it into ... the loan. They don't want it back after the buyer has messed with it; they want their money.

How much do I owe?

Description : How much do I owe?

Last Answer : answer:Nobody here can guess the amount of your payments, how often you make them, or whether your outstanding liability has been accruing interest over the years. We don't even know whether you' ... ve reached the right party, you should get the information quickly. Please let us know what happens.

Do we all owe "Little Johnny" a collective apology?

Description : Do we all owe "Little Johnny" a collective apology?

Last Answer : answer:Why is Johnny come lately the undesired guest? It’s not Billy… not Jack, not Davey… It’s Johnny who is Rotten. … practically onomatopoeic.

What does the government owe to the descendants of slaves?

Description : What does the government owe to the descendants of slaves?

Last Answer : answer:First, we (the citizens of the US)owe them nothing. If anyone owes anything, it is the descendants of the slave owners (i.e. Thomas Jefferson's great-great-great grandson). But even that is a hard case ... - to be a victim. It's a copout, and dishonest. At worst, it's an excuse for failure.

What do we owe our friends?

Description : What do we owe our friends?

Last Answer : answer:You don't want to get into enabling behavior of self-destructive acts. So you don't lend money to a friend who is an alcoholic or a drug addict, for example, even though you might freely lend money ... me , and that might be if he / she mistreated someone else that I knew about, or an animal.

Can I immigrate to the UK if I owe student loans in the US?

Description : Can I immigrate to the UK if I owe student loans in the US?

Last Answer : What @FutureMemory is trying to say is that you need a WORK permit, you cannot just go to the UK to look for work. There about 2.5 million unemployed in the UK, looking for work.

What happens to the things you owe money on when you are in jail?

Description : What happens to the things you owe money on when you are in jail?

Last Answer : Pretty sure you’re not given any sort of pass by your creditors if you end up in jail.

If the person I owe money to dies, do I still owe the debt?

Description : If the person I owe money to dies, do I still owe the debt?

Last Answer : I think the money is still owed even after death. This person is probably the executor of the estate, to put a face on things.

Do you owe favours or others owe you ?

Description : Do you owe favours or others owe you ?

Last Answer : I don’t owe nothing to nobody.

Why do think some people still feel like white people owe black people something for what white people did to black peoples ancestors?

Description : Why do think some people still feel like white people owe black people something for what white people did to black peoples ancestors?

Last Answer : answer:No. The past is just that, the past, and true justice means paying once, and only once for a mistake. Paying for the ‘sins of the fathers’ is an archaic and outdated ‘moral’ code.

Do you owe someone an apology?

Description : Do you owe someone an apology?

Last Answer : I generally have to apologize to my wife several times a week. For some reason my ego forbids me from just a straightforward apology, so I just sort of beat around the bush, imply one, then insist it was as good as a real one. Since it isn’t as good as a real apology, this affects me adversely.

Do you think you owe the world or do you believe that the world owes you?

Description : Do you think you owe the world or do you believe that the world owes you?

Last Answer : Why would the world owe you? You are of the world…and by world, do you mean people- or the actual World? You consume so you owe to replace….

Does my landlord owe me compensation?

Description : Does my landlord owe me compensation?

Last Answer : I am not sure about his legal recourse, but renters insurance probably would have covered it.

Just How Much Attention Do We Owe Our Dogs?

Description : Just How Much Attention Do We Owe Our Dogs?

Last Answer : As long as you love them and they feel loved then that is all that matters, and I am sure they are loved.

How do i Save money to Move out of My Parents' when i owe Loans and Car?

Description : How do i Save money to Move out of My Parents' when i owe Loans and Car?

Last Answer : Could you not join a commune? or share an apartment. Over here we have what is termed granny cottage living, but it is an outhouse or guest-house made into a mini apartment. They are cheaper and ... garden. I guess we could all stay at home because of cost, you just have to jump, and fly!

Have you ever been in a bind between two people you owe your life to?

Description : Have you ever been in a bind between two people you owe your life to?

Last Answer : May you find some peace around your choices.

Do children owe their parents anything?

Description : Do children owe their parents anything?

Last Answer : More of that same unconditional love and acceptance of what their parents decide to do with their lives after the children are off on their own. In a perfect world the roles would gradually ... and crumble, their children will make sure they have adequate housing, food, clothing and medical care.

Do parents owe their children anything?

Description : Do parents owe their children anything?

Last Answer : You don’t have any children do you?

How much do other countries owe the US?

Description : How much do other countries owe the US?

Last Answer : I dont know, i sadily want to say zero, because of our national debt and it being so out of control. Stupid U.S.