What Do I Do If Haven't Paid All Of My Taxes To The IRS?

I haven't paid all my taxes to the IRS this year, what can I do?

What Do I Do If Haven't Paid All Of My Taxes To The IRS? I do not have enough money to pay the full amount.

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Updated: Sep 18, 2014

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You have five options if you have not paid all of your taxes to the IRS.

Before I discuss the options, I want you to know you can get no-cost, on-line quotes from pre-screened service providers who offer IRS debt resolution.

Five strategies for resolving IRS tax debt

The Internal Revenue Service offers several collection and payment alternatives for taxpayers who cannot pay the taxes they immediately. The hyperlinks immediately below connect to more information at the IRS about each program.

1. Offer in Compromise: a program where you can settle your tax debts for less than what you owe. Requires making a lump sum or short term payment plan to pay off the IRS at a reduced dollar amount. (See also "Topic 204 - Offers In Compromise.")

2. Installment agreement: a monthly payment plan for paying off the IRS. (See also "Topic 202 - Tax Payment Options.")

3. Partial payment installment agreement: a somewhat new debt management program where you have a long term payment plan to pay off the IRS at a reduced dollar amount.

4. Currently not collectible: a program where the IRS voluntarily agrees not to collect on the tax debt for a year or so. (See also "Topic 201 - The Collection Process.")

5. Filing bankruptcy: discharge your tax debts under the strict rules of a Chapter 7 or 13 bankruptcy petition. (See also "Publication 908 - Main Content.")

Options compared

For a discussion of each of these options, see Information about IRS Debt and Tax Lien.

I hope this information helps you Find, Save, and Learn.

Best,

Bill

Bills.com