TaxAudit Blog

Tag: tax debt

Woman Reading Letter

Taxpayers receive an IRS CP503 because they have an unpaid tax debt. This is the 2nd notice the IRS sends taxpayers that they have an outstanding balance due.

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Installment Agreement on a Clipboard

You can indeed arrange IRS payments. You can negotiate a plan with the IRS to pay your debt off in either a short-term or long-term series of installments.

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Wage Garnishment written on Paper and Gavel

Can you negotiate to avoid a wage garnishment before it starts? Can you negotiate the amount of the wage garnishment? Let's explore the answers.

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Woman Doing Financial Paperwork

You owe money to the IRS and you can’t pay it all off right now. Let's explore different payment plan options based on your tax situation.

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Payroll Taxes

The IRS treats payroll tax debt seriously. Any employer or employee whose job it is to collect and pay the taxes, but willfully fails, can be held responsible.

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Offer in Compromise

The IRS has an Offer in Compromise program to allow qualified taxpayers settle their tax debt for less than the full amount owed. Here's what you should know.

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Woman looking at debt letter

A taxpayer can seek relief from a spouse's tax burden by applying for the Innocent Spouse program or the Injured Spouse program, depending on the circumstances.

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Man looking at computer with a worried look on his face

The IRS has a fixed amount of time to try to get you to pay your tax debt. This fixed period is known as the “statute of limitations,” which generally 10 years.

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blank check and a pen

Yes, the IRS does offer payment plans to those taxpayers who owe taxes. The IRS offers a series of payment plan options for those who need more time to pay. 

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refund written with blocks

If the IRS is taking your refund, sometimes you need a qualified tax professional who understands IRS collection procedures to intercede on your behalf.

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tax written in blocks with money bags in the background

As the person wrapping up your loved one’s financial affairs, you know at the very least you will need to file their final individual income tax return.

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Levy written on the calculator

Communicating with the IRS to work out a payment plan, put a hold on your account, or even negotiate a lesser amount due may help delay or avoid the IRS levy.

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Tax Relief Professionals at TaxAudit

TaxAudit specializes in tax relief help, and we are so confident in our ability to help taxpayers navigate tax debt - we believe we have it down to a science.

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TaxAudit's Tax Debt Relief Team

TaxAudit provides Tax Debt Relief services that make dealing with the IRS or state less stressful. We know the the laws regarding taxes and tax debt collection.

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Business Owner Looking at Receipts

There are many options for managing your small business tax debt. A tax resolution specialist from TaxAudit can guide you in choosing the best approach.

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Tax Relief Professional

If you have a large tax bill, figuring out your options for getting out of tax debt can be stressful. Thankfully, there’s a proven approach you can follow.

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Pencil Pointing to

One way to find out how much money you owe the IRS is to use the IRS Online Account tool, which allows you to view helpful information about how much you owe.

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Worried Woman

If you haven’t received a notice from the IRS, but think you might owe money to the IRS, you can also utilize the IRS' Online Account tool.

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Concerned couple looking over finances

Generally, the IRS has ten years from the date tax is assessed to collect a delinquent tax liability. However, the answer is not that straight forward.

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Pay your tax bill

What a satisfaction it is saying goodbye to old debts. There are several options available to taxpayers who want to make a payment for back taxes to the IRS.

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Question Mark

Knowing whether you are liable for back taxes owed by your spouse depends upon a variety of factors. Let's discuss the various aspects of spouse liability.

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Man holding sign saying HELP!

When a taxpayer receives a collection notice from the Internal Revenue Service, their typical first reaction is one of panic but it doesn't have to be scary.

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Jar with coins in it that says Tax Pay

The IRS can attempt to collect unpaid taxes for ten years from the time the tax was assessed. The IRS can try to collect the tax in a variety of ways.

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Tax Refund Check

If you owe the IRS back taxes, don’t start spending your refund before it arrives. The IRS can levy or take your refund and apply it to your tax debt.

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woman distressed about tax bill

A person may be relieved of paying some or even all of the tax, penalties, and interest on a tax debt if they meet the conditions for Innocent Spouse Relief.

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Debt Burden Cartoon

Yes, there are legitimate tax relief companies that can help you reduce your tax debt. However, there are scam companies as well. Learn what to look out for.

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Tax Deadline written on July 15th

With the July 15th tax deadline approaching, here’s what you need to know. (1) If You Need More Time, You Can Still File for an Extension (2) Pay What You Owe

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Wage Garnishment Button on a Keyboard

When you enter into a payment plan with the IRS, known as an Installment Agreement, the IRS will release an active wage garnish order.

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new plant growing out of coal

In 2011, the IRS launched the Fresh Start program and has since expanded the program in the hopes of assisting more taxpayers who carry federal tax debt.

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Man holding sign saying Stimulus Checks

Generally, yes. If you owe back taxes or have a payment agreement with the IRS, you will still receive a stimulus check if you are eligible to received one.

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woman distressed about tax bill

Thankfully, for those who owe federal income taxes on their 2019 individual income tax return or are on the hook for prior tax years, help has arrived.

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Wage Garnishment

The IRS may collect federal taxes that are due by garnishing (levying) a taxpayer’s wages. The IRS will notify your employer to begin garnishing the wages.

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Four jars with money and plants growning

The Fresh Start program is designed so that taxpayers pay their debt in full within six years, and without a serious financial burden being placed upon them.

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IRS Installment Payment Plan

Yes, it is possible to pay taxes in installments. For many people, the process of applying for an installment plan with the IRS may not be difficult.

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Cash with a metal chain and lock wrapped around it

Two words: almost anything. Wages, retirement accounts, bank accounts, vehicles, houses, furniture, and even passports are all fair game.

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Owe Taxes

No matter the cause of each person’s tax debt, there are a number of different programs offered by the IRS to help taxpayers get back into the good books.

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Book with California Taxes written on the cover

Options are available to those who cannot pay their taxes in full by the deadline. A good line of communication with the CA Franchise Tax Board is critical.

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Man with tax burden

Having a tax bill is not a situation anyone wants to be in. Fortunately, there are ways to deal with tax debt owed to the IRS. Let's explore a few solutions.

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wooden house and gavel

The answer to this depends on your particular financial circumstances, how much you owe the IRS, and why you owe them money in the first place.

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1040 tax return with Passport and $100 bill

If certified by the IRS to have seriously delinquent tax debt, the U.S. State Department can deny passport applications or revoke currently active passports.

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Five Stars

With excellent customer service and well-trained tax professionals, TaxAudit is set up to be the best tax debt relief program in the industry. Here's why:

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Tax Debt Relief

Millions of individuals and business owners in America currently have unpaid IRS tax liabilities. Here are a few items to consider for tax debt relief options.

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Tax Refund Check and 1040

You can call the IRS to see if your refund has been flagged for garnishment. Then you can reach out to set up a payment plan − if warranted.

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Passport with Denied stamped across it

The IRS can request the State Department to revoke a currently active passport of a U.S. taxpayer with severely delinquent tax debt.

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woman working on a calculator

If you had a debt forgiven and you were personally liable for the debt, you will likely receive a Form 1099–C, Cancellation of Debt.

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This blog does not provide legal, financial, accounting, or tax advice. The content on this blog is “as is” and carries no warranties. TaxAudit does not warrant or guarantee the accuracy, reliability, and completeness of the content of this blog. Content may become out of date as tax laws change. TaxAudit may, but has no obligation to monitor or respond to comments.