Every year, the government requires you to file income taxes. While some people may receive refunds, some have to pay additional taxes that are due. If you have to pay more taxes, there is a likelihood that you may not have the money available to just write the government a check. While you might consider taking out a loan to pay the taxes, it is not necessary. You just need to make some payment arrangements with the Internal Revenue Service.
Instructions
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Do not avoid IRS correspondence. The IRS will primarily contact you via mail or phone and it is important that you respond or answer to the IRS. If you need payment arrangements, the IRS is more likely to help you by arranging affordable payments. If you do not respond to taxes being due early, it may become too late to make payment arrangements for the debt later. Prompt response is best when making payment arrangements with the IRS.
2Contact the IRS. If you have not received any correspondence from the IRS, you need to contact them. You may best reach them by mail or phone. To find contact information, you can visit the IRS website at irs.gov. If you advise the IRS that you do not have the money available to pay the tax debt, they may suggest an Offer in Compromise. This is a settlement in which the IRS you to make monthly payments or a lump-sum settlement.
3Submit your own offer. If the IRS does not respond to you regarding payment arrangements, draft an offer yourself and submit it to the IRS. In doing so, you must decide what arrangements to offer. Since the IRS did not offer payment arrangements, you will need to follow up with the IRS to make sure they received it, as well as if they have reviewed the offer. More than likely, the IRS will inform you of their decision.
4Contact your tax preparer or another tax professional. If you owe additional taxes, your tax preparer may have the ability to help you make payment arrangements with the IRS. If not, there are tax professionals that can help you. To find these services, you may search local telephone directories as well as the Internet.
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