Back Owed Taxes to the IRS and States
Back Owed Taxes to the IRS and States
The burden of owing back taxes to the IRS can be quite stressful. LifeBack Tax Relief is here to relieve you of that stress! We are here to help you regain your financial independence by helping you get the best tax relief plan that fits your unique circumstances under the Fresh Start initiative.
Back taxes owed to the IRS are unpaid taxes that should have been submitted to the IRS by the due date. Sometimes people struggle to fulfill their tax responsibilities on time because life gets in the way. We at Lifeback Tax Relief understand this. If you owe back taxes to the IRS, whether due to a missed deadline, a lack of funds, a simple error, unforeseen circumstances, due to an audit, an assessment by the state, or the IRS filing a tax return on your behalf called Substitute For Return (SFR), we can help you as the repercussions are impossible to ignore with back taxes hanging over your head.
The IRS will assess interest and penalties on the outstanding balance for taxpayers with back taxes owed. The IRS can also charge you Failure to File Penalty and Failure to Pay Penalty both up to 25% of the total amount due. We have seen many of our clients’ balances almost double than original tax owed due to interest and penalties charged for each tax year the balance is outstanding. Additionally, If the debt is unpaid, the IRS can take serious measures of enforcement action such as a bank levy or wage garnishment, filing of federal tax lien, or seizure of your assets. Not to mention, the filing of a federal tax lien can be detrimental to your credit score. A damaged credit score can have dire effects such as not being able to buy or sell your real estate, getting higher interest rates on normal purchases such as cars, etc.
LifeBack Tax Relief specializes in offering tax relief services that are tailored to your requirements. When you come to us for assistance regarding back taxes owed to the IRS, we’ll look into every option to help you resolve your tax issues, and get the best structured resolution allowed by law. Our certified tax professionals can help you get a structured resolution allowed by law such as Offer In Compromise (OIC). We have helped thousands of taxpayers like yourself achieve back tax relief, on average our clients through the OIC program only pay about 5% of the original tax owed to the IRS.
Determining the right course of action when you have back tax can be overwhelming. Our team of committed experts will be there to help and guide you on how to get relief from owing back taxes to the IRS and avoid such cases in the future.
Whether you want assistance in coming up with fresh start relief programs such as a partial payment plan, hardship status, penalty abatement, or an offer in compromise, we’ll help you understand your options and find a resolution that best meets your circumstances. While serving our clients we are transparent through the whole process with clear communication and providing you with regular updates on your case.
Most states have the same tax relief programs as provided by the IRS. We represent taxpayers in all 50 states and have achieved successful state tax relief for our clients. With the help of our knowledgeable staff, you can save your hard-earned income and feel stress-free while we take care of the back taxes you owe to the IRS and State.
If you want to be free from IRS back taxes and enjoy financial freedom, call l LifeBack Tax Relief today! Contact us for a FREE CONSULTATION to take the first step towards a stress-free life.
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Back owed taxes refer to unpaid taxes that individuals or businesses owe to the IRS due to non-payment or underpayment of their tax obligations. These can accumulate over time and include both the original tax amount, along with penalties and interest.