If you're in the unfortunate position of owing past due income taxes to the Internal Revenue Service, you may be feeling concerned about what the agency can do to try to collect these funds from you. You may even be unsure about how to go about resolving this matter appropriately. Learning what you should do about past due income taxes is important, because the longer this situation goes on, the worse the possible consequences can be. Here's what you can do to resolve a past due income tax bill.
I
f you're far behind on your income tax debt you might be thinking about pursuing bankruptcy protection to get some relief for back taxes. However, rather than thinking of bankruptcy as the solution to a problem you'll need to find out some details about how bankruptcy works and if there are better options for settling your tax debt.
