Whether you are due a refund or writing a big fat check to the IRS, there are some steps you should take after your return has been filed. In this article, we discuss three critical steps to take once the tax filing deadline has come and gone.

 

Most taxpayers dread the tedious task of compiling their financial records, tax documents and filing their taxes. Unfortunately, the longer you procrastinate doing your taxes, the greater the chances that something will go wrong.  And if you owe money to the IRS, the more penalties and interest you will have to pay. Often, it is a better idea to file your taxes sooner rather than later.

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.

An experienced tax resolution specialist will have thorough knowledge of all the IRS programs, including the offer in compromise option.  Call us today for help.  (405) 721-8558.

Simply knowing that you have unfiled tax returns can be a source of stress. Even if you think you will continue to fly under the IRS radar, you never know when the tax agency could come calling. So do yourself, and your sanity, a favor by filing those back tax returns now; it is not as scary as you think.

Bott CPA Services. wishes you and your family a happy and safe holiday season, and all the best for the New Year 2020! 

If you need any assistance from me during this time, feel free to get in touch with me by clicking here. 

There is a lot to be said for the do-it-yourself approach to your money, yet the go it alone path does have its limitations, especially when it comes to the IRS and back taxes.    Dealing with the IRS takes a very specialized skill set that most tax preparers and even CPA’s don’t possess.  Make sure you have a tax resolution specialist on your side.

Owing money to the IRS can be pretty frightening. There is a reason those three letters strike so much fear into the hearts of ordinary citizens, even those who have done nothing wrong.  If you are in trouble with the IRS, you cannot afford to ignore the issue, so act fast and get the help you need today. Working with a tax resolution expert carries a host of benefits.