If you somehow missed all the pop-up ads, TV commercials, and people dressed up in character costumes in front of tax preparation offices, Tax Day was April 18th. Individual taxes were due then, but if the date slipped by without you noticing, you are now late on your taxes.Read More >
If you haven’t filed your income taxes for a while, you are probably wondering what to do now. Should you continue your habitual non-tax filing behavior? Or should you throw yourself on the mercy of the IRS?Read More >
If you could not pay your taxes in full, you owe back taxes to the IRS (and possibly to the state you live in if there is a state income tax). The thing about back taxes is that they accrue interest on the unpaid balance from the time of nonpayment until it is completely paid off. So you wind up paying more than the original amount.Read More >
Can you get a refund if you owe back taxes? The simple answer is … maybe. As in, it depends on whether you owe less in tax debt than you have coming to you as a refund. There are several reasons the IRS might hold up your refund or seize it to pay for other debt.Read More >
If you owe the IRS back taxes, consider signing up with a payment plan. Yes, the IRS actually has payment plans for people with low income, not enough time, or maybe just some plain bad luck.