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How Do I Pay Unpaid Back Taxes?

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I’m sure you’ve heard the saying better late than never. This saying can also be applied when it comes to paying your taxes too. Unpaid taxes can be paid and it is probably in your best interest to pay them back, especially since you will start getting notices sooner than later.

First things first, you have to find out exactly how much you owe to the IRS. This can be found by either checking your last notice or you can call the IRS and find out that way. After that, it is your job to determine the best way to payback the IRS. One way to pay them back is to hire a tax professional whose job is to save you money. Even though their services aren’t free, they will make sure you have to pay less than what the IRS is asking for. The other option being of course just to repay your taxes.

If you cannot pay your taxes then there is the possibility of settling with the IRS depending on your financial situation. In some cases, the IRS might decide to let you not pay your taxes in hopes of your financial situation improving and you paying your taxes back at a later time, but before the IRS statute of limitations expires.

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