Charlotte Tax Preparation Expert Explains What To Do When You Can’t Pay All Your Owed Taxes
“If the deadline is approaching and a person can’t pay all the taxes they owe,” began the well-known local Charlotte tax preparation professional, Ms. Jackie Taylor, “then, according to the IRS, it’s still smart for them to try to pay as much as they can…”
“So, the person should just file their income taxes like they usually would?” I asked.
“Sure. Then, after they file everything by the deadline, then they can contact the IRS and very likely get put on an installment plan to pay everything off over time. Contrary to popular opinion, as long as you’re honest with the IRS, you’ll realize that they aren’t, as some people think, always “out to get you”.
Setting Up An Installment Agreement With the IRS
“The IRS has what’s called an Offer in Compromise Program,” said the owner of Neighborhood Tax Center, which has been at the same location on Beatties Ford Road in Charlotte for almost twenty years. “As a local tax professional, I can of course help anyone who is having trouble paying all of their taxes to make an offer. But, generally, a person would be qualified to apply for an Offer in Compromise as long as they aren’t going through a bankruptcy, have made all the payments they were supposed to, and filled all the tax returns they were supposed to.”
“So, what you’re saying, Jackie,” I responded, “ is that, as long as a person is doing everything that they’re supposed to, and not trying to hide anything from the IRS, then there’s really nothing they need to be fearful of or nervous about…”
“Right. See, what the Offer in Compromise program does is give the taxpayer an opportunity to pay off the taxes that they owe for actually less than the total amount they owe.”
How the Offer In Compromise Program Works in North Carolina
According to the North Carolina Department of Revenue (NCDOR), taxpayers across the Tar Heel State who are burdened extremely by their tax liabilities have a wonderful opportunity to deal with their problem head on. They can do this by paying a lump sum (that’s less than the total amount they owe), eliminate their problem of unpaid taxes, and move forward with a clear head about the situation.
“Where can a person get the forms they need in order to send in an Offer in Compromise?” I asked the tax return expert from Charlotte.
“They’re not hard to retrieve”, Ms. Taylor responded. “The easiest way would be to simply print them off at NCDOR’s OIC Page, where they can pick whether they need an individual or a business tax form. Some people prefer to have it mailed to them which they can do at NCDOR’s Tax Order Form Page. And, if they do, I’ll tell you right now it’s going to take about 10 days to hit their mailbox. The final option will be to simply call the department to let them order the forms for you. Their number is (877) 252–3052.
Call Charlotte’s Neighborhood Tax Center to Help Handle Your Owed Taxes!
Ms. Jackie Taylor is always available to help you with figuring out how to move forward with dealing with your owed taxes. That being said, don’t hesitate to contact her during business hours (you can see the exact business hours here at her Google Business Profile for Neighborhood Tax Center in Charlotte) by calling (704) 391–3626.
