| Do you owe the IRS? Or do you think you do? | | | | submitting a payment plan to the IRS, stating that you'll |
| It's surprising, but true: people who don't pay their taxes | | | | give them some of the money you owe, but without |
| on time are actually among the most likely to be in line | | | | promising to pay the whole amount. In many cases, |
| for a refund. Why? | | | | they'll accept! They'd rather have some of the money |
| Experts disagree: in some cases, it's because of a lost | | | | than none of it, and they'd rather know you'll pay over |
| job midway through the year - which can mean less | | | | the next few years than wonder if you'll dodge them |
| time to prepare taxes, and less taxes owed. In other | | | | for the next few decades. |
| cases, it's due to a family illness or another similar | | | | There's nothing like knowing you've got your debt |
| situation. Sometimes, the cause can be a financial crisis; | | | | problems under control, and dealing with the IRS is a |
| someone who ends up selling lots of assets also ends | | | | great way to start with that. But how do you start with |
| up with big tax losses. | | | | them? Simple. Find a site that specializes in filing past |
| Whatever the reason, filing past years' tax returns is a | | | | years' tax returns, and use their services to prepare |
| surprisingly good way to pick up some extra cash. | | | | both the return and the Offer in Compromise. During |
| And even for taxpayers who still owe the IRS money, | | | | the process of filing a past year's tax returns, the site |
| it can be an excellent way to start sorting out the | | | | may dig up some new tax credits and deductions that |
| mess! Every tax professional knows that the IRS can | | | | you can use to minimize your liability, or even turn it into |
| be a brutal creditor - but with a record number of | | | | a refund check. |
| non-filers and non-payers, combined with a | | | | And what do you do if you still owe the IRS money, |
| months-long backlog of new tax credits, the IRS has | | | | and it's still more than you can pay? You keep on |
| never been so overworked. And that means there's | | | | asking. Filing a past years' tax returns is the best way |
| never been a better time to settle up with them and: | | | | to clear up a debt that will stick with you for a long |
| they'll practically pay you to go away! | | | | time if you don't work on it. Why not spend a few |
| The exact process can be complex. The basic idea is | | | | minutes getting started on filing, instead of spending |
| to start by filing a past year's tax returns, then | | | | years worrying? |