Aron Govil shares What to do if you can’t pay your US taxes

If you are unable to pay your US taxes, there are a few things that you can do in order to try and resolve the situation says Aron Govil.

Below are some of the options available to you:

1. File an extension:

If you are unable to pay your taxes by the due date, you can file for an extension. This will give you an additional six months to file your return and pay any taxes owed.

2. Pay as much as you can:

You may be able to reduce the amount of interest and penalties that you owe by paying as much as you can on your taxes.

3. Set up a payment plan:

The IRS offers payment plans for taxpayers who are unable to pay their entire tax bill at once. This will allow you to make monthly payments towards your taxes.

4. Ask for help:

If you are unable to pay your taxes and you don’t know what to do, you can contact the IRS for assistance. They will be able to help you find the best solution for your situation.

Filing an extension:

If you are unable to pay your taxes by the due date, you can file for an extension. This will give you an additional six months to file your return and pay any taxes owed. Keep in mind that filing for an extension does not mean that you are exempt from paying penalties and interest on the amount that you owe. You will still need to pay as much as you can on your taxes to reduce these penalties and interest.

Paying as much as you can:

You may be able to reduce the amount of interest and penalties that you owe by paying as much as you can on your taxes. The IRS will usually impose a penalty for late payment, as well as interest on the amount that you owe. If you can pay off your entire tax bill, you will not have to worry about these penalties and interest.

Setting up a payment plan:

The IRS offers payment plans for taxpayers who are unable to pay their entire tax bill at once. This will allow you to make monthly payments towards your taxes. Keep in mind that there is usually a fee associated with setting up a payment plan.

If you are a United States taxpayer and find yourself unable to pay your taxes, you have some options explains Aron Govil. This article will discuss what to do if you can’t pay your US taxes.

First, you should contact the IRS and explain your situation. The IRS may be able to help you come up with a payment plan or other solution.

You can also try to get a loan or extension from a tax professional. If all else fails, you may be able to file for bankruptcy or sell assets to pay off your taxes.

Contacting the IRS:

The first thing you should do if you can’t pay your US taxes is contact the IRS. You can call them or visit their website. The IRS will be able to help you come up with a payment plan or other solution.

Getting a Loan or Extension:

If you are unable to pay your taxes, you may be able to get a loan or extension from a tax professional. Contact your local tax office for more information.

Filing for Bankruptcy:

If you are unable to pay your taxes, you may be able to file for bankruptcy. This will allow you to discharge your taxes and start fresh.

Selling Assets:

If all else fails, you may have to sell assets to pay off your taxes. Talk to a tax professional for more information.

As a United States taxpayer, you may find yourself in a difficult situation if you can’t pay your taxes. This article will discuss some of your options if you find yourself in this situation says Aron Govil.

The first thing you should do is contact the IRS and explains your situation. The IRS may be able to help you come up with a payment plan or other solution. You can also try to get a loan or extension from a tax professional.

Conclusion:

If you are unable to pay your taxes, there are a number of options available to you. Contact the IRS for assistance and they will be able to help you find the best solution for your situation. You can also try to get a loan or extension from a tax professional.