Finding out you owe taxes can feel overwhelming, especially if you're not sure how you'll pay the bill. But don't worry—you're not alone, and there are solutions to help you manage your situation without unnecessary stress.

File Your Taxes on Time

First, it’s important to file your taxes on time, even if you can’t pay the full amount. Filing late could lead to additional penalties that make the situation worse. If you’re unsure how to proceed, our team can guide you through the process step by step to avoid costly mistakes.

Set Up a Payment Plan

Consider requesting a payment plan from the IRS. They offer several options, including short-term extensions and installment agreements, to help taxpayers spread out their payments over time. It’s an easy process for our team to set up, and this option can make paying your tax bill much more manageable.

Offer in Compromise (OIC)

Another approach often discussed is the Offer in Compromise (OIC). This program allows eligible taxpayers to settle their tax debt for less than the full amount they owe. While it can provide significant relief, it is a more complex process and not as widely available as some advertisements may suggest.

Let me just say it right now: Despite what you may hear in commercials, most taxpayers do not qualify for an OIC. Many companies promising to "settle your tax debt for pennies on the dollar" are not legitimate and may leave you in a worse financial situation. A general rule of thumb is that OICs are usually considered for tax debts well over $50,000. If you believe this could be an option, our team can evaluate your eligibility and handle the process properly.

Request a Temporary Delay

If paying your bill is simply not possible at the moment, you can request a temporary delay in collection. The IRS may agree to pause collection efforts if they determine that paying your taxes would cause undue hardship. While interest and penalties will still accrue, this option can buy you valuable time to get back on your feet.

Don't Ignore the Issue

The most important thing to remember is that ignoring your tax bill won’t make it go away. Taking proactive steps—like reaching out for professional guidance or setting up a payment plan—can help you regain control and reduce stress.

Our team is here to help you navigate these options and find the best solution for your financial situation. From filing assistance to negotiating with the IRS on your behalf, we’re ready to make a tough situation much more manageable.

Don’t wait until the last minute to act. Schedule an appointment with us today, and let’s create a plan that works for you.