5 Tips for People Who Owe the IRS Money

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Falling behind on taxes is very common, yet it’s easy to feel isolated and scared if you owe the IRS money. The good news is that because this situation is quite common, there is a wide range of tips that can help you.

In this guide, we’re going to take a look at some of the most effective tips that can help you pay back that money a little faster and keep a little calmer.

Are you ready to learn more? Then let’s get started!

1. Stay Calm and Read Their Letter

It’s easy to freak out when you get an IRS letter in the mail. They’re often thick, heavy, and inspire a real sense of dread. Yet reading the IRS letter is absolutely crucial.

Steel yourself and read the letter as soon as it arrives. The letter should tell you more about the charges that you need to pay, and may offer some helpful IRS advice that will enable you to pay them sooner.

2. Don’t Be Afraid to Call Them

You have certain rights as a taxpayer. You have a right to privacy and the right to get courteous service. This means that you shouldn’t be afraid of calling the IRS, no matter how daunting that might sound.

If you’ve got any questions about what you’re being charged for, they’re the best people to ask. 

3. Check That They’ve Got It Right

While it’s not very common, the IRS do sometimes make serious mistakes. They could have counted your income twice, misread the expenses that you’ve claimed, and more. 

Take a look at what they’re actually charging you for, then look at your tax return. Have they got it right? If they haven’t, contact them immediately and discuss the mistake that they’ve made.

4. Don’t Feel the Need to Pay Immediately

The IRS will give you a fairly reasonable deadline for payment. If you’ve only got enough money in your bank account to cover rent, food, and utilities, don’t pay the IRS immediately. 

You don’t want to skip paying for essentials and wind up in even more financial trouble. Be smart and consider whether you can afford to pay it right now.

5. Find Help if You Can’t Pay It

If you don’t have enough money to cover the charges and the IRS hasn’t made a mistake, then you need to get some legal help on your side immediately. We’d recommend contacting an attorney who can help you fight the charges, and potentially find a way to lower them.

A lawyer may also be able to have the charges dismissed, or, failing that, they may be able to create a payment plan for you. Learn more about what hiring an attorney involves before you make the decision to hire one.

Don’t Panic if You Owe the IRS Money

If you owe the IRs money, it’s easy to feel overwhelmed and frightened. However, help is at hand. The IRS makes mistakes, and if they haven’t and you can’t afford to pay them, a lawyer may be able to help you.

Stay calm, stay rational, and follow our tips.

For more helpful guides like this, check out the rest of our blog!

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