Back Tax Help And Installment Agreements

Owing money to the IRS can be daunting, especially when your taxes are overdue. If your tax debt is starting to pile up, contact BC Tax for help. Our team of back tax experts provides the solutions you need to help get your taxes back on track.

How Much Tax Debt Do You Have?

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What Are Back Taxes?

Back taxes are taxes due for a prior year that have gone partially or fully unpaid. You can have back taxes on the federal and state levels.

All back taxes accumulate penalties and interest. If you don’t file a tax return, the penalty is 0.5% of the amount due. You’ll be charged this penalty every month until your tax debt is fully paid or the penalty reaches 25% of the tax owed. The IRS also charges interest on the unpaid amount. This interest rate changes quarterly.

If your back taxes remain unpaid, you could face serious legal consequences. The IRS may garnish your wages or seize assets and property using tax liens and levies.

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How We Can Help With Back Taxes

At BC Tax, we understand back taxes happen for many reasons. You may have made a simple filing mistake, or you may not currently have the funds to make a payment. Regardless of your reason or how much you owe, BC Tax can help alleviate your back taxes.

Based on your specific circumstances, we may take one of the following approaches to resolve your tax debt.

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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Nick Christie

02:01 16 May 23

This company was a savior for me. I was trying to deal with my tax situation on my own and also a personal accountant. Then I got a call randomly... from BC Tax. I usually do not give phone sales call a chance but I decided to after talking to the nice man on the phone who gave me an update on my case. It was really amazing and then I decided to go with them. They were very professional and provided above and beyond what I could ever imagine. Long story short, my tax situation got resolved 100%. Other accountants and lawyers said there was very little chance I would be 100% good on this tax issue. BC Tax believed in me and knew my situation was right and they made sure I was good 100%.read more

chuck gaetano

18:08 07 May 23

2021 My taxes were a nightmare. I hired a firm that did more Damage than good. I got a call from Dan from BC Tax , LLC . He has been working to help... me . I owed over $ 40,000 . I am a Vet . I have been out of work for 2 yrs . I have Zero income and waiting results from SS . Dan knows his job well . Not to mention he assured me we will get this done in a timely manner. I finally got the help I needed . I see Advertising for tax relief EVERYWHERE!!!!! Most are scams . BC Tax ,LLC is Not a scam . I recommend it to Any and all vets . Dan is your man . SFMF 👍. I stressed over this WAY to long ! Thanx Again Dan.read more

Dustin Travaglia

15:45 16 Mar 23

I want to express my sincere gratitude to BC Tax Relief team that were able to guide me through every step of the way and assist me with settling. I... can't imagine any other company having such consistently caring individuals that never failed to let me know they genuinely cared about me and my situation. Again, I am eternally grateful for your teams assistance. Thank you for all your hard work Stephanie Statter & Barb Wood!read more

Help With Back Taxes And Installment Agreements