Our Offices| 1909 Mall Drive | Texarkana, TX 75503

Our Offices| 1909 Mall Drive | Texarkana, TX 75503
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Monday, September 9, 2013

I can't pay IRS my past due taxes.

While this may sound like a big problem it may not be as bad as you think. If you complete the IRS financial statement and can document that you have no ability to pay then I would suggest you consider these two options. If you have limited net worth and no ability to pay we can submit an offer in compromise to try to settle your tax debt. If an offer isn't suitable for you then your balance due can be placed in non collect status. No payments will be required unless IRS contacts you for updated financial information and determines you have ability to pay them. You could receive this inquiry if you have a significant increase in income. If your account is placed in non collect status you will receive an annual notice titled reminder of balance due. The IRS won't pursue collection action from this notice. The penalty and interest do continue to be added to your balance. However, the IRS only has a certain period of time to collect the taxes you owe. As always we are with you throughout the entire process of dealing with the Internal Revenue Service. There are options if you can document that you have no ability to pay IRS. If you ignore their notices and don't contact them then you risk IRS collection action on your wages and bank accounts.

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