Things to remember if you owe the IRS back taxes


Owe back taxes

Those that owe IRS back taxes may have not been paying them for years, or they could have made a simple mistake. Even the 1040EZ, the simplest tax form, has 33 pages of instructions. Those that owe back taxes to irs sure be sure to work with a company that knows all of the rules and regulations, so that they can better serve their clients. When people owe IRS back taxes, they cannot afford to take chances.

The Cato Institute recently estimated that there are approximately 1.2 million tax preparers in the U.S. Some of them may have inadvertently led their clients to owe IRS back taxes through a mistake. People may find out about owing back taxes through a levy. The administrative levy for Federal taxes goes all the way back to 1971, according to the Supreme Court. In order to comply with the constitution, the IRS has to give a taxpayer notice of the approaching levy and provide an opportunity to be heard.

Those that owe IRS back taxes may be required to pay through a traditional installment agreement or a stair step IA. Others may find it rather amusing along the way to learn about taxes that seem comparatively silly. While some owe irs back taxes for serious infractions, they might be surprised to hear about how in Chicago, soda from a can or bottle is taxed at 3 percent , but if it is from a fountain, it is taxed at 9 percent .

Those that owe IRS money can have it taken care of, no matter how bad it may seem.

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