If you owe back taxes, contact us to learn the options available to get you back on track.
There are many situations that can result in missing a tax filing deadline. Illness, injury, forgetting, and not having the funds to pay are common reasons why people sometimes end up not getting their tax return filed in a timely manner. Here at Proctor & Assocs., we want to help you get back on track and come up with a plan so you can take care of any back taxes you might owe.
One of the things that we find often happens is the taxpayer is in a better position than they thought. With our experience, we can advise you of legitimate deductions that you might not have known about. If it does turn out that you owe more in back taxes than you can handle right away, we advise that you still get the tax return filed to reduce penalties.
We can then discuss a plan for resolving the back taxes based on your financial situation. If it will be longer than 4 months before you can pay your taxes, we recommend submitting a request for an installment agreement. Another approach is to attempt to get the IRS to settle for less than you owe. This option is only available if you can prove that paying your back taxes would cause excessive financial hardship.
If you would like to schedule an appointment to discuss your options related to owing back taxes, please reach out to us at our Charlotte, North Carolina office. We are confident we can help you get back on track to avoid the collection processes employed by the IRS, but the sooner you get started, the better.