Help With Back Taxes And Installment Agreements
We know that owing money to the IRS can be a stressful, even devastating experience. That’s why we’re here to help!
When your taxes are overdue, you need someone on your side—someone who knows how to get back on track. We’re here to help!
Tax season is coming up fast, and if you’ve got any unpaid taxes lingering, it’s time to get them taken care of. Our team of expert tax accountants provides solutions for every situation—no matter how complicated your situation might be.
What are Back Taxes?
Back taxes are taxes you owe to the IRS that have not been paid yet. They can be on the federal and state levels.
If you don’t file a tax return, the penalty is 0.5% of the amount due. You’ll be charged this penalty every month until your tax debt is fully paid or the penalty reaches 25% of the tax owed. The IRS also charges interest on the unpaid amount. This interest rate changes quarterly.
If your back taxes remain unpaid, you could face serious legal consequences. The IRS may garnish your wages or seize assets and property using tax liens and levies.
Request A Payment Plan
At Nationwide Tax Resolution, we offer payment plans that allow you to pay your back taxes within an extended time frame. You can apply for a short-term payment plan, which gives you 180 days to pay the amount you owe. If you prefer to spread out your payment, you can apply for a long-term payment plan—also known as an installment agreement. A long-term plan allows you to pay the amount owed in monthly installments. If you're on a tight budget and need help with your back taxes, our team is ready to help! We'll work with you to determine the best plan for your needs and prepare your application. We can also help you take advantage of reduced fees based on your income status or COVID-19 relief needs.
Propose An Offer In Compromise
If you have a tax debt and aren't sure how to make payments, an offer in compromise can help. The IRS offers you a chance to settle your tax debt for less than the full amount owed. The IRS bases your eligibility on several factors, including your income, assets and expenses. At Nationwide Tax Resolution, we can file an offer that has a strong chance of acceptance. We'll take care of all the details so you don't have to worry about anything except paying what's owed!
Apply For Non-Collectible Tax Status
If you have a financial hardship that makes paying back your taxes virtually impossible, our licensed Enrolled Agents can help get your debt declared non-collectible. If the IRS concludes you can’t pay your back taxes based on your current financial situation, they may declare your tax debt non-collectible. When your debt receives “currently not collectible” (CNC) status, the IRS will stop aggressive collection tactics like garnishing wages and placing tax liens and levies. However, the money you owe will still accumulate interest and penalties. If you have a financial hardship that makes paying back your taxes virtually impossible, our licensed Enrolled Agents can help get your debt declared non-collectible.
Schedule a FREE consultation
Schedule a FREE consultation with our Experts to see how we can solve all of your Tax Problems.
Don’t let your Tax Problems piled up. We are here to help you be Tax Free and guide you along the way.
Contact Info
10707 Corporate Drive Suite 206
Stafford, TX 77477
- 713-777-0200
- info@nationwidetaxresolution.com
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