If the situation is such that you are not able to pay your IRS tax bill fully, you should pay what you can. It would be just perfect if the majority of taxpayers could just write a check to the IRS to pay off the tax bill to the fullest extent. If there is no possibility for you to pay your taxes in full, you may be able to pay in installments.
If you cannot pay off the tax bill making payment through monthly installments, the IRS may settle the tax bill for less than full the amount. Certain taxpayers may also benefit from bankruptcy laws to resolve the delinquent tax bill.
San Francisco Tax Attorneys have worked out a solid action plan for dealing with delinquent tax bills:
- Establish the correctness of tax assessment;
- File any missing tax returns;
- Analyze the financial condition of taxpayer based on IRS’ criteria;
- Determine existence of any special hardships;
- Suggest an offer in compromise, payment plan, temporary hardship or plan a bankruptcy.
Contact us in San Francisco, Oakland or San Jose