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I Need Help Resolving a Tax Amount Owed or Finding the Right Payment Option?

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Posted by Admin Posted on Sept 07 2023

I Need Help Resolving a Tax Amount Owed or Finding the Right Payment Option?

Is the amount due on the tax bill accurate?

  • Can pay the full amount now or can pay it within 120 days
  • Need to make monthly payments
  • Want to apply for an Offer in Compromise that may allow you to pay less than the full amount you owe
  • Can’t make any sort of payment now

You can also visit IRS’s Payments page for payment options.

If the amount owed is only due to penalties and interest, see our TAS Tax Tips: Why Do I Owe a Penalty and Interest and What Can I Do About It? for steps to follow.

If you have a balance due, don’t delay in trying to resolve it. Sometimes, the timing of your actions is very important and you don’t want to miss a deadline and lose certain taxpayer rights.

This Get Help page can guide you through the steps to take if:

  • Someone has stolen your identity
  • Your IRS account doesn’t show all payments you made to the IRS
  • You need to make a change to a tax return you’ve already filed
  • You filed a tax return with your spouse and all or part of your refund was applied to a debt only your spouse owes
  • You owe tax because your spouse didn’t report deductions or didn’t include income on your joint tax return
  • The person who prepared your tax return changed your tax return information without your permission

If the IRS sent you a notice about something being incorrect on your 2021 return, see our TAS Tax Tip: What if I receive an IRS notice that says something is wrong with my 2022 tax return? or our Issues & Errors Get Help topic pages. Also check the IRS’s Help for taxpayers and tax professionals: Special filing season alerts page for special alerts related to current year tax return processing issues.

If you have any questions regarding Essential Business Accounting, Domestic Taxation, International Taxation, IRS Representation, U.S. Tax Implications of Real Estate Transactions or Financial Statements, please give us a call at +1-305-274-5811.

Source : TAS     

The information provided on the LBCPA Blog is a community service for general information purposes only, and should not be used as a substitute for consultation with professional advisors who specialize in the topics covered. Please refer to your advisors for specific advice on these subjects. The information is not intended to be used, and it cannot be used, for the purposes of avoiding U.S. Federal and/or State tax laws or the tax laws of any foreign jurisdiction.

These blogs contain general information only and Lord Breakspeare Callaghan LLC or any of the other companies or firms presenting information are not providing accounting, business, financial, investment, legal, tax, or other professional advice or services. Lord Breakspeare Callaghan LLC or any of the other companies or firms contributing with articles shall not be responsible for any loss sustained by any person who relies on this information.