Whether it is a global pandemic shutting the economy down for months on end, a stock market crash that leaves formerly giddy investors frightened and nervous, or a housing crisis that makes real estate a risky bet, living through tough economic times is never easy.

In this article, we walk you through IRS installment agreements and what to do if you can’t afford to pay your back taxes.  Though paying your taxes through an installment agreement is just one of many tax relief options, you likely have other options and might be able to settle with the IRS or lower your amount owed.  We encourage you to reach out to our firm for a tax relief consultation to determine your options.

With the coronavirus affecting taxpayers income and asset values dropping, it creates a favorable case for an Offer in Compromise. It’s important to structure it properly in order to have a good chance of settling for less than you owe. A qualified tax resolution firm like ours can help.