what are back taxes
Back taxes refer to any taxes that are owed from a previous year and remain unpaid. These can be income taxes, property taxes, or any other type of taxes that are owed to the government. Failure to pay taxes on time results in penalties and interest charges, which will accumulate over time, making the amount of back taxes owed even larger. Additionally, the government may take collection actions, such as filing a tax lien, garnishing your wages, or seizing your property, if back taxes are not paid. It is advisable to pay back taxes as soon as possible and seek professional help if needed to address the situation and minimize penalties and interest.
Get Tax Relief Now
Back taxes help to get tax settlement & solve your IRS problems.
If you owe back taxes and are unsure how to pay them, the FTC, the nation's consumer protection agency, advises you not to panic. Instead, take a deep breath and consider your options.
If you are behind on your taxes and need tax settlement services, you are not alone.
Millions of Americans are also delinquent.
If you require tax IRS back taxes help, look no further than TheCPATaxProblemSolver.
Settling your back tax can leave you down mentally and financially.
Keith knows how to use the IRS Fresh Start program to provide back tax help.
This has reduced or eliminated tax debt for countless clients and has an impeccable acceptance rate for his OIC submissions.
Learn more about the back tax relief program called the Offer in Compromise (OIC) here.
But if you don't qualify for an OIC, don't panic. There are many options to solve your back tax problem.
Check out these other Tax Relief Options
But make sure you don’t ignore your IRS back taxes.
IRS tax problems never goes away without taking action!
The IRS is the most powerful collection agency on earth.
It has the power to impede your way to financial freedom.
Remember, if you want to know more about back tax help, you can click the button below to book a free tax problem evaluation and get back tax help!
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BACK TAXES HELP
A back tax refers to a tax that has not been paid in the year that they were due creating taxpayers who are unable to resolve their tax problems
Unpaid back taxes can occur at the local, state, or federal levels.
You should keep in mind that these unpaid taxes will accumulate penalties and interest charges on a regular basis (daily and monthly).
What’s more, the IRS is known to file a substitute for return as part of their collection efforts.
Once the state and the IRS complete their assessment, they can start facilitating collection actions, such as liens, bank levies, and wage garnishments.
The IRS usually sends out notices regarding payment of back taxes.
- The principal sum that the taxpayer owes
- The total interest rate that the IRS is charging
- The penalties that have been imposed by the IRS
- The final amount owed (including interest and penalties)
If you do not file your tax returns and pay on time, you also risk losing the IRS tax refunds you were originally entitled to.
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