People who need help with paying taxes generally fall into 1 of 2 categories and do not know which way to turn.
1. They are filing now and owe taxes.
2. They owe from a previous year or years.
Since it is tax filing time right now, if you are reading this article, you may have discovered you owe more than you thought you did. If you already owe taxes and are looking for a way to take care of your problem, this article may very well help you.
IRS Tax Fraud Alerts
Let’s start with what should be obvious, but that is not always the case. There are people looking to take advantage of your situation by offering you help to pay your taxes and not delivering on their promises.
The IRS has a website and a specific web page called Tax Fraud Alerts I was amazed at what I read on this page.
For example…..
– phishing scams
– abusive tax schemes
– fraudulent tax preparers
– abusive tax shelters
– abusive retirement plans
– tax scams
And much more.
The point is the IRS wants you to be aware of people trying to take advantage of you. They may go to prison, but you are still responsible for anything they sign relating to your taxes.
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Non Filers
Some people decide the way to deal with their tax problem is to just not file. Bad idea!
There are always people every year who argue that taxes are not constitutional. This has been tested in the courts many times and the judges always rule on the side of the IRS.
The IRS views it this way. People who do not file pose a threat to the United States and the people who do file. You can end up in jail, so not filing is worse than not paying.
Few Ways If You Need Help With Paying Taxes:
Get A Loan
There are many ads this time of year offering you a loan to pay your taxes.
This can be good or bad depending on the offer and the terms.
How can you get a personal loan to pay taxes?
1. Google it. If you Google “how to get a personal loan to pay taxes” LendingTree.com comes up in position #1 on Google. At least they did when I just Googled it.
There are many loans and loan amounts available to people with good credit. There are even bad credit loans available to people who have some equity they could use to guarantee the loan.
2. Home equity. Do you have a home with equity in it? Get approved for a home equity loan or line of credit.
A line of credit is good because you can access it when you need it. A home equity loan is good for a set amount you can borrow based on the equity in your home.
3. Credit cards. Look at the interest rate on your cards. Chances are they are lower than what the IRS is charging you on any unpaid tax balance.
IRS Tax Relief
The IRS understands people run into financial situations, sometimes beyond their control. Regardless there are a couple of options you have here.
Related Video:
1. Get some help dealing with the IRS.
For many people, the thought of dealing directly with the IRS is enough for them to make bad decisions when it comes to paying their taxes. For this reason, there are companies that will help you with your tax problems and deal directly with the IRS for you.
Of course, they will charge a fee, but that’s what they’re in business for. One company that I’ve seen advertisements for over the years is Tax Tiger.
They are a tax relief law firm out of California. You can expect to pay $3K to $4000 or more for them to represent you with the IRS.
The advantage to a company like it is they send you all the paperwork that needs to be filed with the IRS to try and get some of your tax burden relieved. They’ll file the paperwork and deal directly with the IRS and you may be able to make some or even all of your tax debt go away entirely.
The IRS has a program for first-time filers where your debt is forgiven as long as you promise to stay in compliance in the future. This is great for people who are over $10,000 and would have a hard time paying them back.
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2. Tax payment plan.
Another thing you can do is set up a payment plan to pay your taxes.
If уоu оwе $50,000 оr lеѕѕ, nо mаttеr whаt уоur раѕt tax situation wаѕ, you simply nееd tо rеԛuеѕt аn installment аgrееmеnt online and рау thе аррlісаblе fee.
Tax payments tо the IRS аrе ѕubjесt tо fееѕ and interest, so іf уоu сhооѕе thіѕ орtіоn, consider thе penalties and interest thаt wіll bе аddеd tо уоur tаx bill.
All thіngѕ соnѕіdеrеd, expect to pay аn 8% tо 10% APR whеn уоu opt fоr аn іnѕtаllmеnt аgrееmеnt. The big advantage here is you are dealing with your tax problem and taking care of it.
Final Thoughts
A payment plan is an agreement between you and the IRS to pay your taxes back under an agreed period of time. Ignoring your tax debt is never the answer.
Whether you access money on your own through a loan or credit card, use a lawyer to help you deal with the IRS, or set up a payment plan directly yourself, understand you have options. Believe it or not, the IRS wants to help you and is actually very easy to work with if you approach them correctly and honestly.
Seriously?
Yes, I was in that position and had to pay thousands of dollars and did not know which way to turn. I try working extra hours and a second job, but facing the possibility of paying them for years which will add more taxes as the years approach.
I tried online businesses to earn money but fell into deeper debt. I did not know where to turn so I decided to sell all that I have to make the payment, and I did. I am now in an online business and have the opportunity to work from home, and in a better position than when I was working my 9-to-5 job.
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This article is exceptionally rich in information, this is an exhaustive and helpful article indeed! I must commend you for taking the time to experience every action to revealing these secrets.
I did the credit card payment once and you are right, the interest rate was much lower, this information I passed on to my cousins cause he has the same problem and need help paying his taxes.
The long term is always the right move if you have the time, but if ones invest in a home business, depending on where you are, there are so many tax advantage that one can receive in their city. I believe that is the best way to go.
I will love to take a look at Affiliate Marketing, cause working from home is always one of my dreams. Thanks for sharing that with me.
I have known about the IRS Tax Fraud Alerts before now and I also gained a lot from your info. Thanks for the eye-opener. You will be hearing from me about Wealthy Affiliate.
Hussaain,
Thank you for the comment, and happy to know that one of the ways I mention about paying off your taxes had worked for you in the past.
Yes, depending on the tax laws in your area, owning a home business there are tax advantages and one can get many tax breaks and huge savings. This is one reason my sister decided to open a home-based business, not just to build one, but to get tax-deferred because of owning one.
Wealthy Affiliate is a long term way to start, but you get a tax advantage immediately. Please take a look and let me know what you think, I would be happy to help you get started.
I take this business seriously, and I will do whatever it takes to see others have the same success. will be talking to you soon. Thanks for the feedback.
Hi,
It is a great article about paying taxes. I found your article very helpful because this is really an important topic to discuss. I got proper information about paying taxes. In your article, you have also discussed IRS tax fraud alerts which are also a very important topic.
There are a lot of people like me who do not know much how to pay taxes. I believe, this article will be helpful to them and myself. You mention the different ways to pay them off, and the tax payment plan I think is the best way for me. I am going to share this article with my family and relatives because I know many of them do struggle while paying taxes every time and maybe they can apply one of IRS relief methods.
And there are a large number of people who deceive income taxes only because they do not know about it so they think that deceiving is better than taking the trouble of paying taxes which is really a matter of sorrow. A\nd some do think if they ignore it, maybe it will go away. But that is not the case.
Thank you so much for sharing this article with us.
Tax preparation comes around the same time every year and some of us wait last minute to file. The laws do changes from time to time and is always a good idea to get it done early to give the tax preparer some time with the new changes.
I have known some people ho uses the IRS tax payment plan and find that the interest rate is much higher than a cred card. This is something to consider.
It is very difficult to deceive the IRS cause they pay professionals to look after their interest. So you would be facing the experts in their field. Thank you for the feedback.
I like you and was amazed at some of the things found on the IRS site in regards to the fraud alerts. I just got done with my taxes and unfortunately because of my parent’s estate and a few other things I owed over a thousand this year, the most ever!
Unfortunately, I ended up paying it off right away. Good and bad. Good that I do not have it hanging over my head for months to come. Bad because it was pretty much everything I had saved towards a down payment on a new rental. Catch 22 I guess. I saw the installment plan but did not want the added interest that came with it. I do wish I had read your article earlier though, as I might have done a bit more research instead of paying them right away.
Hi Cathy, catch 22 is sometimes the right approach. It is now behind you and now you can focus on other things without it hanging on your shoulder. Sometimes that is the best way to go.
Last year one of my neighbors took my advice and started a home business and now this year after doing their taxes, they were surprised that the number of deductions they can claim, and that is here in New York. last week they came over to my house to thank me.
This is one of the perks that starting an online business from home can do. it can give you deductions that you would not normally have, just to offset a few bills to help reduce taxes or increase your returns. Some consider it a hefty savings plan for their family.
Sorry that this article did not find you in time, but just keep it for the coming years cause Uncle Sam will never leave you depending on the tax laws that govern your city.
Thank you for your addition here.
I think your article is really on point and timely. I read about IRS several times online on their different plans of paying a tax but I think your article really explained in details about engaging IRS in tax payments.
I think I can consider working with them and as well check a suitable plan for me. I have also learned something important in your article that not filing is a great offense than not paying a tax. I will also share this article.
Yes, this is the tax season and as always, my friends and neighbors come to me asking questions. I am not a tax attorney, but I do offer tips that IRS has available on their website for paying off your taxes. Keep in mind it varies depending on what state you are located.
Returns or not, one still need to file. Never thinks it will go away if you don’t file. IRS hire people to look after their interest, you should not take them lightly.
Keep in mind that you can beat them on their own game by starting a home based business to help offset some of your basic bills to decrease your taxes or increase your returns. Hope that helps!
Hello Bishop. Thank you for this well-timed offer. It comes for the right time for many of us with this burden of taxes or debts! OMG, you too went through that situation of getting confused on how to pay your taxes? I’m awfully sorry for all these ordeals you went through before. That’s why I believe from now on, that YOU have SOMETHING to offer that really springs out of your own past, your life. I’m personally interested in making money online and your experience is great to help me and everyone looking for financial freedom like me.
Thank you for sharing.
Looking forward to reading your new tips about how that online money making THING works.
Oscar
Hey Oscar, thank you for taking the time to read my article for people who need help with paying their taxes and not face penalties.
Yes, I am speaking with an experience, you do not want to upset uncle Sam, cause you might spend years trying to pay him off.
My business is based on online money making tips and although I spend some time helping people save money, you can always come to my website to get new ideas on what is working for me, and what programs you should stay away from that are not effective today.
Talk to you soon!
Your article is really awesome. I have benefited greatly by reading it, especially in a time when tax seasons are upon us here in the US. I had a desire to know about this for a long time cause I had run into problem paying my taxes a couple of years back.
I got to know all the different methods I can use now for paying my taxes thanks to this article. Your tips on this issue are really awesome. In your article, you said about the tax and how to borrow a loan. That is one I may try and see what interest rate I will receive. Thank you very much for sharing this.
Yes, tax season is upon us and this year most people fall into paying as oppose to getting a return. But like I mention, paying off your taxes is possible and you should not neglect to pay it.
Taking a loan may be fine, but please take a look at the interest rate, sometimes using a credit card may mount up to be smaller. Hope it worked out.
Your article was very informative, and I have benefitted from it greatly by understanding the necessary ways I can implement for help with paying buy taxes.
I have owed taxes a lot over a period of time so I need to open a home – based business so I can offset some of my bills in the future. The laws in many countries are not the same, so I will find out what appeals to me in my city.
I wanted to this some time now, but your article has brought some new light to my understanding and what approach I need to take moving forward. Taking a loan had come to mind, but I will only do so after hearing if there are any tax benefits in my city.
Thank you for the information.
Not sure what part of the country you are situated, but most times if the tax laws are not the same they tend to be similar in nature, so is wise to do your due diligence and see what applies to you if you decide to have a home-based business.
Bank loans work to an extent but is always good to know if you can apply for a tax loan for where you owe the taxes. In the US Iris offers loans to pay off your taxes if you qualify. But in other countries, I do not know if that is the case as well.