Is The Tax Man’s Bite Bigger Than Your Wallet?
Overwhelmed by a tax bill you can’t pay? Whether it’s the IRS or your state, we’re the top dogs at sniffing out the right tax relief for any situation!
Can’t Pay Your Taxes? You’re Not Alone
Falling behind on taxes happens more often than you think, and it’s not always because you did something wrong. Life can throw curveballs (or chew toys) that derail even the most responsible taxpayer. Common reasons why people can’t pay their taxes include:
- Loss of income due to layoffs, reduced hours, or business downturns.
- Unexpected expenses like medical emergencies, home repairs, or caring for a loved one.
- Bigger bill than expected due to miscalculating paycheck withholding.
- Tax law changes or loss of deductions/credits claimed in the past.
- Business cash flow issues that push payroll and sales tax payments to the back burner.
No matter the cause, there’s good news: you don’t have to roll over and play dead. There are proven ways to work with the IRS and state tax agencies to settle your bill and move forward.
IRS Solutions For Those Who Can’t Pay in Full
The IRS believes in throwing a bone to taxpayers who are unable to pay their tax balance in full. They do this by offering several tax relief options, such as:
Installment Agreement (Payment Plan)
This allows you to pay off your tax balance in manageable monthly amounts.
Offer in Compromise
If eligible, you may be able to pay less than you owe and the IRS will forgive the remaining balance.
Currently Not Collectible (CNC) Status
If life has thrown you an unexpected curveball, the IRS may pause collection actions and not require you to make any payments until your financial situation improves.
Each option has its own eligibility requirements and application process. Choosing the right one can also be tricky. That’s where our experienced “pack” of tax professionals comes into play. We know how to position your case for the best possible outcome.
What If I Can’t Pay My State Taxes?
Thankfully, most states have their own versions of payment plans, settlement agreements, and hardship status. Since each state has its own eligibility requirements and application rules, it’s important to work with someone familiar with your state’s programs. At Top Dog Tax Relief, we’ll help you navigate both federal and state systems so you can find the best path forward.