When you sit down to file your tax return, chances are that you’re hoping to receive a refund; some folks look forward to a yearly “bonus” in the form of their tax rebate. Worst case, you’re likely hoping to at least break even. But what about when you file your taxes only to discover that you owe money to the IRS?
Wherever you’re located, our trusted tax experts near Sacramento can help you to formulate and carry out a plan to get things under control. So what do you do first?
If you find yourself rather alarmed at the prospect of paying back the IRS, the first step is to take a step back and to calm down. No smart decision is ever made while in a panic. Instead, take a deep breath and start working on your plan. If you’re reading this, you’re already on the right path!
By working with the trusted tax experts at Paramount Tax Relief, you can ensure that the next steps are carried out to the letter and that your situation is resolved in the best way possible. We’re on your side, and our years of experience and wealth of tax law knowledge can help you save on what you owe and avoid major repercussions.
Double Check Everything
Our team will start by reviewing your tax return to ensure that everything is calculated correctly and that you’ve minimized your tax liability as much as you’re entitled to. This phase may even result in the discovery that you owe less to the IRS than you thought.
Find a Payment Plan
If our team confirms that you do, in fact, owe money to the IRS, we can help you explore your options. Taxpayers tend to have a lot of questions about back taxes, and our Sacramento team can answer them all for you.
After that, we’ll help you explore your options. This is crucial to ensure you avoid drastic measures by the IRS like bank levies and wage garnishments. From payment plans to offers in compromise (OIC), we can work with you and the IRS to help you find a plan that works for your means and budget while keeping you in good standing with the IRS.
If you owe money to the IRS, your next step is to contact Paramount Tax Relief by calling (916) 533-9940 to schedule a consultation. Our team is here to help you execute a plan that can reduce your debt and keep you in good standing with the IRS, so make the call today.