Tax Issues and You: Q & A
With Stephen Weisberg of The W Tax Group
Question: I am behind in my taxes and cannot afford to pay them. What are my options?
Answer: If you’re behind on your taxes, the first thing you should do is called a tax professional with expertise in tax collections. There are many options for resolution but you need a licensed tax professional to get you the most favorable outcome.
Resolutions include an Installment Agreement (monthly payment plans over time), penalty abatement, a Partial Pay Installment Agreement (monthly payment plan where the taxpayer never pays off their debt), Offer in Compromise and more, all depending on your personal circumstances.
The general idea behind a monthly payments plan is easy to understand but each case has specific circumstances which may dictate the length of the payment plan, the amount paid each month, whether you are required to pay off your entire debt, and how the payments are made. When negotiating a payment plan, there are many options. If you are unaware of your options, the IRS is going to require you to pay as much as possible.
Stephen Weisberg, lead tax attorney at The W Tax Group, represents individual and business taxpayers nationwide successfully resolving cases with an in depth understanding of the Internal Revenue Manual. Stephen prides himself on being able to provide his clients with peace of mind during an extremely difficult time. He is a member of the State Bar of Michigan.