If you don't qualify for the Offer In Compromise program, a Payment Plan may be the way to resolve your problem. Setting up a payment plan with the tax authorities gives you a little more time to pay off your tax debts, and helps you avoid more the more drastic collection measures such as garnishments or seizures. Since interest and late payment penalties continue to accrue on all unpaid taxes, it's important to act as quickly as possible to reach an agreement with the tax authorities.
We can help you negotiate a tax payment plan that fits your budget, and we can often get your penalties reduced or eliminated as well. Unfortunately, you are required by law to pay the interest on outstanding tax debt, so interest will continue to be charged on your outstanding balance as you pay off the debt.
We can also help you manage your cash flow and find other resources that will help you pay your back taxes more quickly, to minimize the interest and any penalties.
