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The IRS Is Resuming Debt Collections. Here’s What To Do If You Can’t Pay Your Taxes

May 29, 2023

As the IRS returns to normal operations, collection activities will resume as well. The agency is ramping up efforts to collect overdue taxes after many debt-collection activities were paused in order to provide relief to taxpayers during the COVID-19 crisis.

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How To Set Up A Payment Plan With The IRS

April 17, 2023

Wondering if it's still possible to arrange a payment agreement with the IRS before the 2023 tax deadline? The answer is yes. giving a taxpayer the opportunity to pay their taxes on a timeframe set by the government, saving them from penalties and other fees.

Recent Posts

New FAFSA Rules Opened Up A ‘Grandparent Loophole’ That Boosts 529 PlansApril 29, 2024 - 9:35 pm
Beginning with the new 2024-25 FAFSA launched late last year, a student’s total income is only based on data from federal income tax returns. That means any cash support, no matter the source, won’t negatively affect financial aid eligibility. And though it’s called the “grandparent loophole,” any nonparent, including friends and relatives, can use it.
When To Worry If Your Tax Refund Is DelayedApril 22, 2024 - 6:55 pm
The IRS used some of its $80 billion in funding from the Inflation Reduction Act to hire thousands of new employees and improve its automated systems, which reduced the backlog significantly. But some returns can still take a while to process. If you’re still waiting for your tax refund, there is some information you need to know.
Can’t Pay Or File Your Taxes By April 15? Here’s What Happens If You Missed Monday’s DeadlineApril 15, 2024 - 9:35 pm
Failing to file on time when you still owe taxes will subject you to a failure-to-file penalty, which is based on how late your return is and the amount of your unpaid tax . You will also be hit with a failure-to-pay penalty. The good news is you still have time to rectify those situations before you’re penalized.
Four Must-Dos Before Tax Season Wraps UpApril 8, 2024 - 8:39 pm
It’s gratifying to close the books on tax season. But before you do, there are just few things you might want to take care of while you’re still on the tax zone.
Don’t Like Your 2024 Tax Refund? Here’s An Easy Way To Get A Bigger One Next YearApril 1, 2024 - 8:58 pm
It’s fairly simple to make your tax refund bigger or smaller each year: It takes just a few minutes, once you have the paperwork in hand. The IRS even bakes the process into one simple step on its tax forms.
How To Reduce Capital Gains Taxes And Save MoneyMarch 26, 2024 - 1:04 am
There are various tactics and techniques investors can employ to reduce their capital gains taxes effectively. From tax-loss harvesting to utilizing retirement accounts and charitable giving strategies, actionable methods can help save money and optimize tax outcomes.
Student Loan Forgiveness Email Scams: How To Detect It And Avoid It?March 18, 2024 - 9:07 pm
From suspicious calls to deceptive emails and text messages, student loan forgiveness scams can come in various forms. There are ways, however, you can identify and avoid these scams along with steps to take if you believe you’ve been targeted.
Answers To 15 Common Tax QuestionsMarch 11, 2024 - 9:11 pm
This is the time of the year people are searching for free tax help they can trust, trying to squeeze out more valuable deductions, hoping to avoid penalties or audits, eagerly awaiting their refunds or wanting to make sure they aren’t victims of tax scams. Read on for answers to the most common tax questions.

Tag Archive for: internal revenue payment plan

The IRS Is Resuming Debt Collections. Here’s What To Do If You Can’t Pay Your Taxes

How To Set Up A Payment Plan With The IRS

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