It’s tax season! That can bring a lot of stress even to those who do not have tax problems. However, let’s not look at tax season as a bad thing. We can flip that narrative to something positive.
If you have unfiled tax returns or outstanding IRS debt, you’re not alone. Millions of Americans find themselves in a similar situation, unsure of what to do next and overwhelmed by fear of IRS action. The good news? You have options, and taking the first step toward resolving your tax issues can bring you financial relief and peace of mind.
The Number One Rule in Tax! Always, Always, Always File Your Returns, Even if You Owe and Cannot Pay!
By filing your returns, you start the Collection Statute Expiration Date (CSED), which means the statute of limitations starts to run on how long the IRS can legally collect the tax debt. So, the sooner that clock starts the better. By not filing, you’re not hiding; you’re not avoiding tax problems; you’re not doing anything but harming your rights and your options.
Why It’s Time to Act Now
Ignoring your tax problems won’t make them disappear. In fact, the longer you wait, the worse things can get. The IRS has the power to garnish wages, levy bank accounts, seize assets, and place liens on your property. Interest and penalties continue to pile up, making what may have started as a manageable tax debt quickly spiral out of control.
Instead of waiting for the IRS to take action against you, take the proactive approach—get your house in order, and start the process of resolving your tax debt today.
Step One: File Your Unfiled Tax Returns
If you have unfiled tax returns, it’s critical to get them filed as soon as possible. The IRS won’t negotiate tax debt relief options until you’re in compliance with your filing obligations. Even if you can’t pay the full amount owed, filing your returns can help reduce penalties and stop the IRS from estimating your tax liability—often at a much higher amount than you actually owe. Not sure where to start? We can help! Just call: (844)894-4440.
Step Two: Explore Your Tax Debt Resolution Options
Once your returns are filed, we can explore the best strategy for resolving your tax debt. You may be eligible for one of the following relief options:
- Bankruptcy – Many people don’t realize that certain tax debts can be discharged through bankruptcy. If you qualify, bankruptcy can eliminate or significantly reduce your tax debt while putting an immediate stop to IRS collection efforts.
- Offer in Compromise (OIC) – This IRS program allows eligible taxpayers to settle their tax debt for less than the full amount owed. If you qualify, you could pay pennies on the dollar to resolve your tax debt once and for all.
- Installment Agreement – If you can’t pay your tax debt in full but don’t qualify for an OIC, an installment agreement may allow you to make manageable monthly payments to the IRS over time.
- Innocent Spouse Relief – If your spouse (or ex-spouse) was responsible for the tax debt, but you were unaware of their actions, you may be able to qualify for innocent spouse relief to remove yourself from the tax liability.
Step Three: Call Me for a Free Consultation
Taking control of your tax situation starts with a simple phone call. I offer a free consultation to review your case, explain your options, and develop a strategy tailored to your financial circumstances. With years of experience helping clients resolve IRS debt, I know how to navigate the system and find the best possible solution for you.
Don’t let fear or uncertainty keep you from getting the fresh start you deserve. Call me today —so you can move forward with confidence and peace of mind. We represent tax clients nationwide!
Author: Jenny L. Doling, Esq., LLM Taxation
CA State Bar Certified Bankruptcy Specialist
NACBA – Vice President
San Diego Bankruptcy Forum – Immediate Past President
Serving Bankruptcy Clients throughout California and
Tax Clients Nationally