There are a number of reasons why an individual or company might owe back taxes. Math errors are one common cause of underpaid taxes, especially if the forms were not prepared by a professional certified public accountant. Believe it or not, the IRS is remarkably flexible when it comes to working with taxpayers who might have underpaid their taxes for whatever reason. That said, no one wants to experience the hassle of a confrontation with the IRS, no matter how accommodating the agents might be.
A Tampa CPA from Reliance Consulting, LLC, can help make sure that your taxes are in order before, thereby reducing or even eliminating the potential for error. If payment becomes necessary, it is understood that not everyone who must pay taxes (as opposed to receiving a return) can afford to make a bulk payment. Fortunately, a CPA from Reliance can help you determine how to take advantage of the methods the IRS offers for payment. These include:
- Payment deadline extensions
- Credit card payments
- Payment through installments
- Additional withholding from future paychecks
- Requests for relief
- And more
We at Reliance know that every circumstance is unique, and the reason someone might owe back taxes is not as relevant as making sure the problem is resolved. We also know that an ounce of accounting prevention – through the measured use of experienced tax planning – is worth a pound of the “cure” of negotiating with the IRS. Since opening our doors in 1984, Reliance has helped thousands of Florida residents and businesses with tax planning and preparation, so we are well-positioned to aid anyone who finds him- or herself owing back taxes. Contact Reliance today to learn more.