Back Taxes Owed

You have filed your returns, but don’t have the money to pay what is owed. You may think, “Oh well—I will catch up next year.” Before you know it, you’ll find yourself several years in arrears and there is a notice from the IRS, stating that you owe three or four times the original amount.

It’s truly amazing how fast tax penalties and interest add up. Now you have a choice: you can write a big fat check and pay the full amount, including interest and penalties, or you can just keep ignoring them while the penalties and interest keep piling up.