How Business Owners Can Resolve Their Back Taxes
How can business owners with substantial back tax problems resolve their issues?
The first thing you need to see is what caused the issue, get ahold of your accounts with the IRS, and get into compliance. You can't do anything with the IRS if you have unfiled returns or are not responsive to them.
The IRS offers various options like Offer in Compromise, Partial Pay Installment, Streamlined Installments, and Penalty Abatements. Whatever your situation is, there is an option to resolve it.
The problem is if you just let it continue, penalties and interest continue to accrue. A big mistake that many people make is trying to pay down their back taxes and not worrying about paying their current taxes.
It would help if you focused on paying your current year's estimated taxes before you pay your back taxes. Many business owners continue to be in the clutches of the IRS because they can't get out of it. They're just paying the wrong years. Resolve your back taxes by properly paying the right taxes. Make the smart decision, and do what is actually right so you can move ahead and get the IRS off your back for good.
Let us help you resolve your tax problems with ease. Reach out to us at 201-479-2572 or visit www.201tax.com.
