2024 How to get relief with IRS tax debt, according to experts.

Many Americans are planning their tax records as the Monday, April 15, 2024 IRS tax filing deadline gets closer.

The majority of taxpayers overpaid during the year and obtained a refund, with around 64% of tax returns completed before April 28, 2023, receiving a tax refund. However, even with the greatest intentions, it is possible to end up with a tax burden by accident. Many people owe the IRS money because they incorrectly estimated or missed their income.


Receiving a tax statement from the IRS, regardless of the reason, can be anxious, especially given the potential penalties. The non-payment penalty is 0.5% of the outstanding amount every month, up to 25%, until the total is paid. If the IRS does not hear from you and the nonpayment continues, the government may garnish your salary or establish a lien on your property.

While IRS tax bills can be demanding, it is critical to take action and seek assistance if you cannot afford to pay off the entire obligation when filing.

How to get relief with IRS tax debt, according to experts.

Here are some expert-recommended methods to assist you meet your tax requirements.

Do complete your taxes, even if you need an extension.

When you owe the IRS money, you must move quickly. Ignoring the situation will only make it worse.

“Make sure to file your tax return on time, even if you can’t pay the full amount,” “Not filing on time can lead to extra penalties, and that’s just extra stress you don’t need. So, send in your return on time, and if you need a bit more time, ask for an extension.”

Paul Miller, CPA and founder of accounting firm Miller & Company.

Request a payment plan

It is also important to maintain open channels of contact with the IRS. If you are unable to pay your tax payment, be proactive explain why, and respond promptly to any IRS inquiry. Otherwise, the agency will take the next step to collect debt, such as withdrawing funds from your bank account or putting a lien on your home.

On its website, the IRS outlines how it might take such severe collection procedures, saying:

“You have a balance on your tax account. A notice was previously given to you informing you of the amount you owed, the due date, and how to pay. Since the IRS has not heard from you, it is proceeding with its collection action by filing a levy or performing a seizure.”

Leslie Tayne, a financial attorney and CEO of Tayne Law Group, recommends contacting the IRS as soon as possible to discuss what options are available.

“They might include an installment agreement, an offer in compromise—where you settle your tax debt for less than the amount owed—or temporarily delaying collection if you can prove financial hardship,”

Leslie Tayne, a financial attorney and CEO of Tayne Law Group

Make an offer in compromise

If settling the tax requirements will put you or your family in a difficult financial situation, think about making a compromise offer. The settlement offer is a contract between you and the IRS to settle your tax liability for less than the full amount owed. However, you must be able to demonstrate that the tax obligation would put significant financial pressure on your household.

To determine your eligibility for tax relief, the IRS offers a pre-qualifier tool if you’re not sure of your credentials.

Get help from the Taxpayer Advocate Service.

If you are experiencing problems resolving your tax debt through standard IRS processes, the Taxpayer Advocate Service (TAS) can help you for free. The TAS strives to assist you in resolving your tax troubles with the IRS while also providing advice on how to avoid future tax debt problems.

Consult a tax professional

A certified public accountant (CPA) can assist you in navigating through tax debt difficulties and dealing with the IRS. A good CPA understands the tax code and how to effectively manage the IRS collection procedure.

While you can manage tax debt difficulties on your own, you may choose to hire a tax debt relief firm to accomplish it for you. These services work with the IRS to address your tax debt.

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Paying money to the IRS can be challenging, but knowing your alternatives is always good and be cautious so you can find a tax debt solution. Even though interacting with the IRS is difficult for most people, doing so is necessary to develop practical solutions and improve your financial situation.

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