- If you need help with back taxes, consider the following options12:
- IRS payment or installment plans: If you need more time to pay your tax bill, check if you qualify for an IRS payment plan.
- Offer in compromise: This option allows you to settle your tax debt for less than the full amount owed.
- "Currently-not-collectible" status: If you're facing financial hardship, you may qualify for this status, which temporarily suspends collection efforts.
- Penalty abatement: You can request relief from certain penalties if you have a valid reason.
- Hiring a tax relief company: Consider professional assistance to navigate your tax situation.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.5 tax relief options
- 1. IRS payment or installment plans If you need more time to pay your tax bill, check to see if you qualify for an IRS payment plan. ...
www.nerdwallet.com/article/taxes/tax-relief-back-ta…Filing back tax returns could help you do one or more of the following:
turbotax.intuit.com/tax-tips/irs-tax-return/how-do-i-fi… - People also ask
Best Way To Pay Your Back Taxes And Get Relief - Forbes
Learn how to pay your back taxes and get relief from the IRS or state and local tax agencies. Compare different programs, such as short-term or long-term payment plans, offer in compromise, and currently not collectible status. See more
Back taxes are any tax money that’s owed to the IRS or state and local tax agencies. The sooner you pay your back taxes, the better off you’ll be, … See more
Tax relief is a catch-all term for the government programs or policies that help taxpayers reduce their tax burden. In the broadest sense, tax relief may include tax deductions, credits or exclusions that can lower your tax bill. There’s also special tax relief, often extended … See more
Tax relief programs vary by the amount of tax debt owed and the taxpayer’s ability to pay, says Bell. “There is not a one-size-fits-all program that is best for each taxpayer’s situation,” … See more
You may be tempted to hire a tax relief company to assist with shaking your tax debt. These businesses provide services to help people get rid of back taxes. The companies claim they can eliminate tax debts and stop IRS tax collections. Some tax relief … See more
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Tax Relief: 5 Ways to Deal With Tax Debt - NerdWallet
- Estimated Reading Time: 9 mins
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- IRS payment or installment plans. If you need more time to pay your tax bill, …
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- "Currently-not-collectible" status. If you can't pay your taxes and your living …
- Penalty abatement. If you have an otherwise clean record but get hit with an …
- Hiring a tax-relief company. Tax-relief companies typically offer to help …
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