Owing taxes to the IRS is no laughing matter. Between the penalties and other fees that add up, you may find yourself facing a bill larger than you’d imagine.

In the latest installment of Nemeth IRS News, we’re going to discuss what steps you can take if you find yourself owing taxes. And as always, if you find yourself facing this issue, we encourage you to contact the Law Offices of Nick Nemeth. Our IRS tax attorneys can help!

So sit back, relax, and enjoy another informative conversation!

Timecodes:

0:06 - Introduction and overview on the topic of the day

1:50 - Jamie Flores sets the scene

2:24 - The most common reasons someone might owe money to the IRS

4:20 - How your tax bill can grow and worsen as time goes on

7:00 - The recommended steps to take if your tax bill is higher than you anticipated

8:03 - The penalties for not filing your tax return on time

12:00 - Installment agreements and an offer-in-compromise

14:45 - How an offer-in-compromise can be achieved and who qualifies for this

17:27 - Closing remarks

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