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Overheard a client at a coffee shop say they 'just pay whatever tax they owe each year' and it made me panic for them
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phoenix_singh254d ago
My cousin got a five-figure bill for back taxes last year.
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jenny_lee4d ago
Did your cousin ever check if they qualified for a payment plan or an offer in compromise, @phoenix_singh25? People forget the IRS will sometimes settle for less.
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My uncle was in that exact spot a few years back. He called the IRS directly and set up a payment plan, which was way easier than he thought. The key is to talk to them before they come looking for you. It took some time on hold, but they worked with him on a monthly amount he could actually handle.
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