Request a Payment Plan
The IRS offers payment installment plans that allow you to pay your back taxes within an extended time frame. You can apply for a short-term payment agreement plan, which gives you 180 days to pay the amount you owe. If you prefer to spread out your payment, you can apply for a long-term payment plan — also known as an installment agreement. A long-term plan allows you to pay the amount owed in monthly installments.
At BC Tax, our tax professionals will help you determine the best plan for your needs and prepare your application. We can also help you take advantage of reduced fees based on your income status or COVID-19 relief needs.
Propose an Offer in Compromise
An offer in compromise is a tax relief program through the IRS that allows you to settle your tax debt for less than the full amount owed. The IRS bases your eligibility on several factors, including your income, assets, expenses and ability to pay.
The experts at BC Tax can file an offer that has a strong chance of acceptance the help you get tax debt relief.
Apply for Noncollectible Tax Status
If the IRS concludes you can’t pay your back taxes based on your current financial situation, they may declare your tax debt non-collectible. When your debt receives “currently not collectible” (CNC) status, the IRS will stop aggressive collection tactics like garnishing wages and placing tax liens and levies. However, the money you owe will still accumulate interest and penalties.
If you have a financial hardship that makes paying back your taxes virtually impossible, our licensed Enrolled Agents can help get your debt declared non-collectible.
Contact Us Today
Get in touch with us today for help with back taxes. As a top tax relief company, we work with taxpayers in Colorado and throughout the United States.
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