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Resolving a Tax Bill

Posted by Admin Posted on May 27 2024

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Got a tax bill for your federal tax return? One of the best tools you can use to manage your tax account is an IRS online account. When you establish your online account, you have access to your notices, account information, transcripts, and you can obtain useful information to help keep you current on your tax obligations. If you receive a tax bill, we have several resources to help you resolve it.

Is the amount due on the tax bill accurate?

If yes, see our group of payment options under our Paying Taxes Get Help pages. Start with the I Can’t Pay My Taxes. Here you can see information about and steps to follow if you:

  • Can pay the full amount now or can pay it within 120 dayNeed to make monthly payments.
  • Want to apply for an Offer in Compromise that may allow you to pay less than the full amount you owe.
  • Can’t make any sort of payment now

You can also visit IRS’s Payments page for payment options or see this Tax Time Guide: Using electronic payment and agreement options for taxpayers who owe can help avoid penalties and interest.

For more information on penalties and interest, visit IRS.gov.

If you have a balance due, don’t delay in trying to resolve it. Sometimes, the timing of your actions is very important and you don’t want to miss a deadline and lose certain taxpayer rights.

If no, see our I Need Help Resolving My Balance Due Get Help page.

This Get Help page can guide you through the steps to take if:

  • Someone has stolen your identity.
  • Your IRS account doesn’t show all payments you made to the IRS.
  • You need to make a change to a tax return you’ve already filed.
  • You filed a tax return with your spouse and all or part of your refund was applied to a debt only your spouse owes.
  • You owe tax because your spouse didn’t report deductions or didn’t include income on your joint tax return.
  • The person who prepared your tax return changed your tax return information without your permission.

If the IRS sent you a notice about something being incorrect on your return, see our Issues & Errors Get Help topic pages. You can also visit the TAS Digital Roadmap and enter your notice number to find out more information about it. Also check the IRS’s Help for taxpayers and tax professionals: Special filing season alerts page for special alerts related to current year tax return processing issues.

If you have any questions regarding Essential Business Accounting, Domestic Taxation, International Taxation, IRS Representation, U.S. Tax Implications of Real Estate Transactions or Financial Statements, please give us a call at +1-305-274-5811

Source: TAS      

The information provided on the LBCPA Blog is a community service for general information purposes only, and should not be used as a substitute for consultation with professional advisors who specialize in the topics covered. Please refer to your advisors for specific advice on these subjects. The information is not intended to be used, and it cannot be used, for the purposes of avoiding U.S. Federal and/or State tax laws or the tax laws of any foreign jurisdiction.

These blogs contain general information only and Lord Breakspeare Callaghan LLC or any of the other companies or firms presenting information are not providing accounting, business, financial, investment, legal, tax, or other professional advice or services. Lord Breakspeare Callaghan LLC or any of the other companies or firms contributing with articles shall not be responsible for any loss sustained by any person who relies on this information.