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Minneapolis Tax Attorney on What to Do About Costly Tax Bill

Submitted by Tax Tiger on Tue, 4/19/2016 - 9:45 pm

Can you pay your tax bill?

Sometimes after filing taxes, we get nervous about what may happen if we receive a tax bill. And not just any tax bill, but a hefty one from the Internal Revenue Service. What can you even do if you can’t afford it? Many may ignore it – which is not a good decision and will lead to a bigger problem. Minneapolis tax attorney, Tax Tiger, can help you if you become overwhelmed and stressed about your tax bill.

You aren’t alone

According to the IRS, you aren’t alone when it comes to needing help paying a tax bill. There are 5 million taxpayers out there who can’t front the money so there are a couple of alternatives.

  1. Extend your payment period

The IRS allows for an extension on your bill for up to 120 days. If you think this is ample time for you to gather the money, this may be your best situation.

  1. Set up a payment plan

Depending on what your situation entails, the Internal Revenue service can set uo an installation agreement with you. If you are having any issues with this part or are still having trouble making the payments, IRS tax attorney in Minneapolis, can help you negotiate with the Internal Revenue Service.

  1. Claim a financial hardship

The IRS tries to be understanding – so if you know you are unable to pay now due to a hardship, they will not ask for the amount until things have improved.

  1. Offer in Compromise

This is definitely something that tax attorney in Minneapolis, Tax Tiger, can assist you with. This is for when you want to settle your tax bill for less than what you owe.

Ignoring your IRS tax bill is never something you want to do. This is just something that won’t go away unfortunately. So instead of pushing the bill under the rug, increasing the amount you owe and the stress you have, talk to Tax Tiger. There are different solutions to everyone’s problems and sometimes you just need to hear the right strategy for yours. Don’t wait – call today!