What Happens When I Can't Pay the IRS in Full?

You'd pay the IRS if you could...but you can't. Bills are piling up. Finances are suffering. You have other priorities and the IRS is not on the list. Luckily, there are plenty of solutions when you can't pay the IRS in full.

Make the Choice: Protect your assets by paying the IRS voluntarily. Really, your first step is to get proactive and face your debt before the IRS forces you to!

Pay the IRS Monthly: If you can't pay in full but can pay the IRS monthly, an Installment Agreement is the best payment plan for you, but you can't miss a payment until your debt is paid in full.

You Can't Pay the IRS: Those in serious financial trouble might be able to settle their tax debt with an Offer in Compromise. It's incredibly difficult to settle tax debt, so check with an expert before you attempt it.

Don't Slip Up:
Once you're making monthly payments you cannot miss a single payment if you want to protect the funds in your band and your assets!

The IRS Loophole: The IRS will try to set the monthly payments as high as possible, if you can't work it down to an affordable amount you should consider hiring a professional to represent your case before the IRS.

What about my Refunds?: If you are still paying down a debt from back taxes, any money coming to you via refund will be applied as payment on the debt. You won't see returns until your debt is repaid in full.

Pick Something! Don't procrastinate. Don't give the IRS an excuse to go after your wages, bank accounts, or assets. Get proactive, pick an option, and work from here to satisfy your debt.