How to Deal with the IRS on Back Taxes

Written By Kevin McKernan

Key Takeaways about How to Deal with the IRS on Back Taxes: 

  • If you need to deal with the IRS on back taxes, the first principle is simple: don't ignore the notice from the IRS. The agency works on timelines. 

  • It is also important to understand that the IRS is not always correct. 

  • One of the biggest mistakes taxpayers can make is to delay responding to IRS correspondence or the filing of missing or updated tax returns. 

If you Actually Owe the IRS, You have Several Options 

  • An installment agreement based on your unique financial situation 

  • Temporary hardship status if income is insufficient 

  • Penalty abatement in appropriate circumstances 

  • An Officer in Compromise if you truly cannot pay the full amount 


One of the Biggest Mistakes a Taxpayer can Make with the IRS 

One of the biggest mistakes taxpayers can make is to delay responding to IRS correspondence, or the filing of missing or updated tax returns. 

This document is designed for general information only. The information presented in this document should not be construed to be formal legal or tax advice nor the formation of a lawyer/client.

For further information please contact me at www.kmckernanlaw.com kevin@kmckernan.com or 718-317-5007.

Kevin McKernan
Previous

Government Requests for Records: What Small Businesses Should Do First
Next

Employers: Beware of Employment Agreement Integration Clauses and Their Impact on Prior Employee Agreements