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The IRS offers surprisingly affordable terms on its payment plans.
A common question we get asked is that I can't pay my taxes on time to the IRS. If you can't pay your tax bill, then this video is perfect for you. If you can't pay your taxes, this video covers your options.
If you just completed your tax return and you realize that you can't pay taxes by the tax filing deadline, then don't panic! We cover the IRS payment plan, the IRS extension, which is your personal income tax extension, short term extension request, and offer in compromise.
If you can't pay the IRS, we're going to lay out your options. We understand it's a bad situation to be in if you owe taxes and can't pay the IRS. If you can't pay your taxes and you owe the IRS, then with this video, you're in for a treat!
And worst of all, this usually happens to people when they were expecting a tax refund of all things. And please check out our other videos about taxes 2020, W4 2020, and the W4 tax form 2020. We also have a great tax video about tax changes 2020!
ClearValue Tax and affiliates and related parties do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction. Get some tax advice and tax tips from your accountant! Of if you are using Turbo Tax then use the Turbotax accountant help if that's your go-to tax resource.
Personal Finance: "What to Do When You Can't Pay Your Taxes"