Back Taxes Owed

Owing the IRS can feel overwhelming, but there are real options for resolution. We help you understand your choices and negotiate a plan that works for your financial situation.

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Options for Resolving Back Taxes

If you owe the IRS back taxes, you are not alone. Millions of Americans carry tax debt, and the IRS has established multiple programs to help taxpayers resolve their balances. The key is understanding which option fits your situation and presenting your case correctly.

Ignoring a tax debt is the worst approach. Interest and penalties continue to accumulate, and the IRS has powerful collection tools at its disposal, including liens, levies, and wage garnishment. The sooner you address the issue, the more options you have.

Resolution Options We Can Help With

Installment Agreements: Monthly payment plans that allow you to pay your balance over time while staying in compliance.

Offer in Compromise: In some cases, the IRS will accept less than the full amount owed if you can demonstrate that paying in full would cause financial hardship.

Currently Not Collectible Status: If you cannot afford to pay anything right now, we can request the IRS temporarily pause collection activity until your financial situation improves.

Penalty Abatement: If you have reasonable cause for late filing or payment, we may be able to get some or all penalties removed.

Why Infinity

You Deserve an Accountant Who Actually Cares

We built Infinity Accounting Solutions around a simple belief: business owners deserve expert accounting support without feeling like just another client number. By combining modern technology with old-school relationship building, we provide the personalized service, accessibility, and trusted guidance that businesses need to grow with confidence.

Big-Firm Expertise. Boutique Experience.

We bring the technical knowledge of larger firms together with the personalized attention of a boutique practice.

Your Accountant for Life

Relationships come first. We believe accounting is about more than just numbers. We build long-term relationships based on trust, communication, and a genuine understanding of your business.

A Partner, Not Just a Provider

Whether you need bookkeeping, controllership support, or tax guidance, we're here to help you make informed decisions, not just deliver reports.

Modern & Accessible

Enjoy the convenience of a virtual firm powered by best-in-class technology, paired with the real human attention, responsiveness, and personal service you deserve.

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Frequently Asked Questions

Common Questions About Back Taxes Owed

What happens if I cannot pay my tax debt in full?

You have several options. We can set up a monthly payment plan, apply for an Offer in Compromise, or request Currently Not Collectible status. We evaluate your financial situation and recommend the best approach.

How much interest and penalties am I being charged?

The IRS charges interest at the federal short-term rate plus 3%, compounded daily. The failure-to-pay penalty is 0.5% per month, up to 25% of the balance. We help reduce these whenever possible.

Can I negotiate with the IRS on my own?

You can, but it is not recommended. IRS procedures are complex, and mistakes can be costly. Our Enrolled Agents know the system and can often achieve better results than self-representation.