What to Do If You Can't Pay Your Taxes? | Nationwide Tax Consulting

If you cannot afford to pay taxes this year, don't be worried, it's not awkward as several individuals go through such issues. The first thing is to file taxes, so do that, because if you will not file, IRS will apply Failure to File penalty and will charge 5% interest on the owed tax amount for the days and months until you don't pay. Consider help from a reputed company such as Nationwide Tax Consulting and let the experts manage your taxes.

When you are done with filing, then there are several ways to negotiate with the IRS. You can go for an extension to get some time to pay, and if you think, you cannot pay the amount you owe at once, go for installment agreement so you can pay comfortably in several installments.

Or You can also go for offer-in-compromise with IRS to negotiate the debt and pay the agreed amount, but for OIC, you should have a genuine reason convince IRS that you cannot pay the amount.  Filing the taxes is must, and later you can have several options to negotiate with IRS and pay in comfortable pay.

Hundreds of individuals send their applications to the IRS for OIC and Installment agreement, and only a few of them get approval. Do not file them yourself if you are not expert at it; there is a lot of documentation required to create an appropriate file and more risks of errors.

An expert will do things in the right way, attach every document required, and submit a file to IRS on time with more chances of approval. Even, You got a rejection; They can still appeal to the IRS with making the needed correction to file. I would advise you to proceed with a professional tax resolution company, Nationwide Tax Consulting as they are good at such things and maintain a healthy relationship with the IRS. There you receive personalized services and will be provided a toll-free no. So you can ask for updates anytime.

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