If you owe back taxes to the IRS, you may have heard that the agency generally has 10 years to collect the debt. That rule is real, but it is often misunderstood. The 10-year period does not simply begin when you file your tax return. It generally begins on the date...

An IRS tax bill can be difficult to manage when you cannot pay the full amount by the deadline. Ignoring the balance does not make it go away, and penalties and interest may continue to increase the amount you owe. An IRS installment agreement can give eligible...

Tax problems don't always start with a major mistake. A missed deadline, an overlooked 1099, an unsupported deduction, or a tax bill that you couldn't afford can eventually turn into penalties, an IRS audit, or growing tax debt. For self-employed individuals and small...

Getting an IRS audit letter can be unsettling. Even if you believe your tax return is accurate, seeing a notice from the IRS asking questions or requesting documents can leave you wondering what went wrong and what could happen next. First, don't panic. An audit...

Owing the IRS can become more stressful when penalties and interest continue adding to an already difficult balance. For someone who is self-employed, runs a small business, or has gone through a period of financial hardship, back taxes can quickly become difficult to...

Owing the IRS can feel overwhelming, especially when you've heard that an IRS Offer in Compromise could help you settle your tax debt for less than the full amount. While the program has helped many taxpayers resolve their obligations, approval is far from automatic....