Overview
Back Taxes can affect cash flow, credit, property, employment, and business operations. The right response usually begins with confirming the tax years, balances, deadlines, and whether required notices were properly issued.
Why this problem matters
- - IRS notices and balance due letters
- - Penalties and compounding interest
- - Federal or state tax liens
- - Levies against wages or bank accounts
Possible resolution options
- - File missing returns
- - Request an installment agreement
- - Evaluate penalty abatement
- - Review eligibility for offer in compromise or currently not collectible status
Documents to gather
Helpful records may include IRS or state notices, tax returns, account transcripts, proof of income, business bank statements, payroll records, and a current list of monthly expenses.
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