You mean well. You did not have the intent to cheat the federal government or the Oklahoma state government when you originally filed your taxes, and you are acting in good faith now. Yet, that does not mean that you have the money in the bank to pay what the IRS or OTC says that you owe.
You May Have Options For Resolving Your Tax Debt
The IRS and the OTC may not be looking out for your best interests, but they also want you to pay as much as you are able to pay so that they can recover as much money as possible. Accordingly, they are not looking to put you in jail where you won’t be able to make the income that you currently make and, if you truly don’t have the money to pay your full tax bill, they may consider alternative solutions to your tax debt problem.
Depending on your circumstances, some of those alternative solutions may be to:
- Set up a periodic payment plan.
- Get an Offer in Compromise approved.
- Claim Hardship Status and get the IRS to agree that your debt is Currently Uncollectable.
- File for a penalty abatement.
- File bankruptcy (though not all bankruptcy proceedings will impact your tax debt).
Of course, one or more of these “solutions” may not sound like much of a solution to you, and each possible “solution” may have a different impact on you and your ultimate tax liability.
Call a Norman Tax Lawyer for Help
If you do nothing, the government may issue a tax lien or garnish your wages. To avoid serious problems when you can’t pay your full tax bill immediately, please call a Norman tax attorney today at 800-721-7054, and learn more about your rights in our FREE book, The Ultimate Survival Guide for IRS Problems.