Subscribe Feed (RSS)What do I do if I owe taxes…and can’t pay.
January 12th, 2009 by Karl Kofod, CPA | No Comments | Filed in Tax PlanningWith the current bleak state of the economy, many taxpayers may find their ability to pay taxes has been negatively impacted by unemployment or corporate downsizing, loss on investments and reduced income. When in these circumstances, the reaction of many taxpayers is to ignore the problem and procrastinate in dealing with the IRS.
Not filing a tax return is NOT a good idea! Read on…
Tags: bankruptcy, installment agreements, IRS, offer-in-compromise, tax civil penalties, tax penalty abated, tax return, taxes, uncollectable tax
