Posts tagged "Back Taxes or Tax Debt"

Can the IRS garnish my wages?

If you are behind on paying your taxes, as many Connecticut residents are, and you have not taken any steps to work with the Internal Revenue Service to rectify the situation, certain actions may be taken against you in an effort to collect the money owed. One such action is wage garnishment, also referred to as a wage levy. Yes, the IRS can have your employer send a portion of your check straight to it, and no court order is required for this to happen.

Have tax debt? Here are 3 things you may want to do

Not being able to pay one's taxes can cause a person to experience a lot of stress. Connecticut residents with tax debt may put off filing and paying for years because they fear the consequences of failing to pay on time and in full. For anyone who is struggling to meet his or her tax obligations, here are three things to consider doing as soon as possible.

Why dealing with tax debt now is a good idea

There are numerous Connecticut residents who, for various reasons, are behind on paying their taxes. Letting tax debt go for too long will only increase how much one owes in the end, thanks to penalties and fees that the Internal Revenue Service will tack on. Dealing with tax debt sooner rather than later is always a good idea.

Offer in Compromise -- who sets the terms?

Being unable to pay one's tax bill can be defeating. A lot of Connecticut residents are struggling financially right now, and the last thing they need is to have penalties and fees attached to tax bills that are already outrageous. Thankfully, those who do end up owing more than they can pay do have options to ease their financial situation. One such option would be seeking an Offer in Compromise.

Does it look like you'll owe the IRS more than you can pay?

While the year 2020 may still be in its early stages, tax season will be here in the blink of an eye. Many Connecticut residents are already fast at work getting their taxes completed, and some are finding that they owe the Internal Revenue Service more than they can possibly afford to pay all at once. Thankfully, if you are in this boat, you do have a variety of payment options that you can utilize to ensure you stay on the IRS' good side.

How an installment agreement can help you with your tax debt

Every year, numerous Connecticut residents find themselves unable to pay their taxes. If you find yourself in this position, there are various ways you can pay off your tax debt without doing too much damage to your pocketbook. One way is through installment agreements.

Did paying back taxes or tax debt just become easier?

Owing money to the IRS is not an attractive prospect for anyone here in Danbury or elsewhere. Even so, many people do. The agency now uses private debt collection agencies to collect back taxes or tax debt, and recently instituted a new way to set up multiple payments with one phone call.

Thinking about seeking an Offer in Compromise?

Do you owe the Internal Revenue Service more money than you can pay at present? If you do, you are not alone. Numerous Connecticut residents find themselves in this position every year. Thankfully, you may be able to seek an Offer in Compromise in order to resolve the tax debt.

When you cannot pay your tax debt

Come tax time, all Connecticut residents hope that they will have the ability to pay their tax bills. Unfortunately, some cannot. Having tax debt is something that can weigh on a person's mind and pocketbook, as the longer tax debt is carried, the more one will owe in interest and penalties. Something many people may not be aware of is that the Internal Revenue Service has collection standards it must abide by when a person is unable to meet his or her tax liability.

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Baker Law Firm, P. C.
24 Delay Street, Suite 1
Danbury, CT 06810

Phone: 203-648-4737
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