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Do You Owe The IRS? Here’s What You Can Do If You Can’t Afford To Pay

If you owe the IRS money and cannot pay, it is important to take action as soon as possible. You may be able to set up a payment plan or apply for an offer in compromise. The sooner you do this, the better your chances of avoiding penalties and interest that will continue to grow with every day that passes.

It may seem daunting at first, but there are many resources available to help make this process easier for you such as the low-income taxpayer clinic (LITC) program which offers free tax assistance for people who qualify based on their income. If you need more information about what options might be available to you, please contact our office at please contact us today at 619-297-4195 or email us at reception@missionhillstax.com

Request Up to 180 Days to Pay Your Tax Balance

If you owe the IRS, it is important to be proactive in your approach. The most common way to avoid paying late penalties is by requesting an extension on filing your taxes. This will give you up to 180 days from the time of request until payment is due. You may also qualify for a six-month installment plan with reduced interest rates and no penalty if you pay within 60 days.

Your best option will depend on how much money you owe, what form of income tax return it is that needs filed (individual or business), and whether or not there are any special circumstances such as disability status or military service that might make meeting deadlines difficult. If you have questions about what would work best for your situation, please contact our office at please contact us today at 619-297-4195 or email us at reception@missionhillstax.com . We’ll help get started with the process right away!

Request an Offer in Compromise

The Request an Offer in Compromise (ROIC) program is designed to help taxpayers with their tax debts by providing a solution that will reduce the amount they owe.

Your best option will depend on how much money you owe, what form of income tax return it is that needs filed (individual or business), and whether or not there are any special circumstances such as disability status or military service that might make meeting deadlines difficult. If you have questions about what would work best for your situation, please contact our office at please contact us today at 619-297-4195 or email us at reception@missionhillstax.com . We’ll help get started with the process right away!

Request a Suspension of Collection Activities

Tax payers who have had their tax debt suspended or dismissed due to a hardship and are also experiencing financial difficulties will be able to apply for suspension of collection activities. 

The IRS is now accepting applications from taxpayers who meet this criteria. Taxpayers can request an extension on the time frame they need to repay their taxes through an online form on IRS.gov, by sending in a written request with supporting documentation, or by calling the IRS at 866-919-0357 (toll free). This new policy change will help those who qualify keep up with living expenses while paying taxes owed. If you would like more information about how this might affect your case please call us today! Contact us today at 619-297-4195 or email us at reception@missionhillstax.com .

Request a Penalty Abatement to Reduce Your Tax Bill

Do you think the IRS would be willing to waive any penalties from your account? The first-time penalty abatement program may help if they have not assessed a penalty for three years, filed all returns or filed an extension and paid. Reasonable cause relief is also available which can happen in cases of unintentional neglect on behalf of the taxpayer. Request a Penalty Abatement to Reduce Your Tax Bill
Do you think the IRS would be willing to waive any penalties from your account? The first-time penalty abatement program may help if they have not assessed a penalty for three years, filed all returns or filed an extension and paid. Reasonable cause relief is also available which can happen in cases of unintentional neglect on behalf of the taxpayer.

If you do not qualify for the first-time penalty abatement, you may want to consider penalty relief through a reasonable cause. The IRS will consider your request if you can establish the following reasonable causes:  

You experienced a fire, casualty, natural disaster or other adverse weather conditions

You are unable to obtain your financial or tax records

You or an immediate member of the taxpayer’s family were impacted by a serious illness or death

The IRS has a penalty relief service for those who have received incorrect written advice. The process is relatively straightforward, requiring you to fill out Form 843 , Claim for Refund and Request for Abatement
with the name of your form and how much money was involved in total.

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missionhillstax.com

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Mission Hills Tax Service, INC 928 Fort Stockton Dr, Ste 110 San Diego CA 92103
b/t Hawk St & Goldfinch
Jasmine Jones, EA
Janet Cooper, CTEC Preparer
Jo-re Lawson, CTEC Preparer/Bookkeeper
Celeste Pryor-Davis, CTEC
Preparer/Office Manager
Trinity Davis, Receptionist.