{"id":27014,"date":"2022-06-19T04:09:15","date_gmt":"2022-06-19T04:09:15","guid":{"rendered":"https:\/\/c1mdevsite.com\/braunability.com\/do-you-owe-money-to-the-irs-heres-what-you-need-to-know\/"},"modified":"2022-06-19T04:09:15","modified_gmt":"2022-06-19T04:09:15","slug":"do-you-owe-money-to-the-irs-heres-what-you-need-to-know","status":"publish","type":"post","link":"https:\/\/c1mdevsite.com\/mdctraining.ca\/do-you-owe-money-to-the-irs-heres-what-you-need-to-know\/","title":{"rendered":"Do You Owe Money to the IRS? Here\u2019s What You Need to Know\u202f"},"content":{"rendered":"<div><img decoding=\"async\" width=\"768\" height=\"512\" src=\"https:\/\/c1mdevsite.com\/mdctraining.ca\/wp-content\/uploads\/2022\/06\/pexels-rodnae-productions-7947997-scaled-e1655527460535-768x512-1.jpg\" class=\"webfeedsFeaturedVisual wp-post-image\" alt=\"chart with calculations and calculator for financial planning\" style=\"display: block; margin-bottom: 5px; clear:both;max-width: 100%;\" link_thumbnail=\"\" loading=\"lazy\" srcset=\"https:\/\/c1mdevsite.com\/mdctraining.ca\/wp-content\/uploads\/2022\/06\/pexels-rodnae-productions-7947997-scaled-e1655527460535-768x512-1.jpg 768w, https:\/\/watershardy.com\/wp-content\/uploads\/2022\/06\/pexels-rodnae-productions-7947997-scaled-e1655527460535-300x200.jpg 300w, https:\/\/watershardy.com\/wp-content\/uploads\/2022\/06\/pexels-rodnae-productions-7947997-scaled-e1655527460535.jpg 800w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\"><\/p>\n<p><span data-contrast=\"auto\">Paying taxes is not a pleasant experience. Especially if you know that a large amount is owed. You may believe that avoiding this situation altogether is your only option. The truth is, facing the challenge of paying your tax bill head-on is the best way to keep the problem from getting bigger. The best thing you can do is to take care of all of your taxes from the start to avoid getting in trouble with the IRS.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Knowing your options for ensuring tax compliance and the consequence of inaction is essential to understand. Saying, \u201cI didn\u2019t know any better\u201d just isn\u2019t going to cut it. Managing your taxes is an adult responsibility, and with that comes serious adult decisions to be made. Our team at <a href=\"https:\/\/watershardy.com\/about\/\" target=\"_blank\" rel=\"noopener\">Waters Hardy<\/a> understands that being in trouble with the IRS is a scary prospect. However, we believe that educating yourself about the implications of owing back taxes is the first step to making it right.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<h2><b><span data-contrast=\"auto\">Reasons You May Owe Taxes<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/h2>\n<ul>\n<li><span data-contrast=\"auto\">You withheld too little money from your pay and now can\u2019t afford the bill.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">You have more income than usual, and the extra income is not subject to withholding.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Self-employment tax<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li><span data-ccp-props=\"{}\">\u00a0<\/span><span data-contrast=\"auto\">Difficulty making quarterly estimated taxes (if you have non-wage income)<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li><span data-ccp-props=\"{}\">\u00a0<\/span><span data-contrast=\"auto\">Changes in your tax return, such as a change in dependents or deductions.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<h2><b><span data-contrast=\"auto\">Finding Out If You Owe Taxes\u00a0<\/span><\/b><span data-ccp-props='{\"335551550\":1,\"335551620\":1,\"335559740\":259}'>\u00a0<\/span><\/h2>\n<p><span data-contrast=\"auto\">Some people know they owe the IRS and simply put off payments. Others know they owe but don\u2019t have the means to pay even if they wanted to. Still, there are some people who don\u2019t have a clue whether they owe money to the IRS or not.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<h3><b><span data-contrast=\"auto\">How can a taxpayer determine whether they have any overdue tax balances?\u00a0<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/h3>\n<p><i><span data-contrast=\"auto\">Here are 3 of the most common ways to discover whether you owe taxes to the IRS.<\/span><\/i><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Mail Notice<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li data-leveltext=\"o\" data-font=\"Courier New\" data-listid=\"2\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":1440,\"335559991\":360,\"469769226\":\"Courier New\",\"469769242\":[9675],\"469777803\":\"left\",\"469777804\":\"o\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"2\"><span data-contrast=\"auto\">\u00a0The first attempt at contacting you will always begin with mail correspondence. If you receive an email, text, phone call, or message via social media, you can be sure that you have been contacted by scammers.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Log in to IRS.gov<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li data-leveltext=\"o\" data-font=\"Courier New\" data-listid=\"2\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":1440,\"335559991\":360,\"469769226\":\"Courier New\",\"469769242\":[9675],\"469777803\":\"left\",\"469777804\":\"o\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"2\"><span data-contrast=\"auto\">\u00a0You can access your complete tax records online, view the amount you owe, and make payments.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Contact the IRS via Phone<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li data-leveltext=\"o\" data-font=\"Courier New\" data-listid=\"2\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":1440,\"335559991\":360,\"469769226\":\"Courier New\",\"469769242\":[9675],\"469777803\":\"left\",\"469777804\":\"o\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"2\"><span data-contrast=\"auto\">\u00a0This may be the most challenging way to get in touch with the IRS due to high call volumes and long wait times. However, you might get lucky and reach a real person to talk to.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2><b><span data-contrast=\"auto\">The IRS Offers Payment Options\u00a0<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/h2>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">File an Extension or Apply to Pay in Installments<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li data-leveltext=\"o\" data-font=\"Courier New\" data-listid=\"6\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":1440,\"335559991\":360,\"469769226\":\"Courier New\",\"469769242\":[9675],\"469777803\":\"left\",\"469777804\":\"o\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"2\"><b><span data-contrast=\"auto\">\u00a0<\/span><\/b><span data-contrast=\"auto\">While you will accrue interest and\/or fees, you can file for a temporary extension to be met by a specific deadline or apply to repay your tax bill in monthly payments. The failure-to-file penalty is higher than the failure-to-pay penalty, so your best bet is to communicate with the <a href=\"https:\/\/www.irs.gov\/payments\/payment-plans-installment-agreements\" target=\"_blank\" rel=\"noopener\">IRS and discuss your options<\/a>.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Apply for a Hardship<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li data-leveltext=\"o\" data-font=\"Courier New\" data-listid=\"6\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":1440,\"335559991\":360,\"469769226\":\"Courier New\",\"469769242\":[9675],\"469777803\":\"left\",\"469777804\":\"o\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"2\"><span data-contrast=\"auto\">You may be entitled to an exemption from the IRS if you can prove that paying the tax owed will cause an extreme financial hardship. By applying for a hardship plan, you can avoid the IRS from withholding your wages.\u00a0<\/span><span data-ccp-props='{\"335551550\":1,\"335551620\":1,\"335559685\":1440,\"335559737\":0,\"335559740\":259,\"335559991\":360}'>\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"8\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":1440,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"2\"><b><span data-contrast=\"auto\">Apply for an Offer in Compromise<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li data-leveltext=\"o\" data-font=\"Courier New\" data-listid=\"8\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":2160,\"335559991\":360,\"469769226\":\"Courier New\",\"469769242\":[9675],\"469777803\":\"left\",\"469777804\":\"o\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"3\"><b><span data-contrast=\"auto\">\u00a0<\/span><\/b><span data-contrast=\"auto\">This little-known federal program routinely eliminates tens of thousands of dollars in tax debts each year. You are entitled to apply and request to settle your tax debt for less than the total amount owed.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li data-leveltext=\"o\" data-font=\"Courier New\" data-listid=\"8\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":2160,\"335559991\":360,\"469769226\":\"Courier New\",\"469769242\":[9675],\"469777803\":\"left\",\"469777804\":\"o\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"3\"><a href=\"https:\/\/www.debt.org\/tax\/offer-in-compromise\/\" target=\"_blank\" rel=\"noopener\"><span data-contrast=\"none\">Debt.org<\/span><\/a><span data-contrast=\"auto\"> claims that <\/span><span data-contrast=\"none\">in 2017, the IRS accepted 25,000 of 62,000 proposed Offers in Compromise. That\u2019s a 40.3% approval rate, amounting to almost $256 million. The average dollar amount of the accepted offers was $10,234.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Borrow from your 401 (k)<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li data-leveltext=\"o\" data-font=\"Courier New\" data-listid=\"6\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":1440,\"335559991\":360,\"469769226\":\"Courier New\",\"469769242\":[9675],\"469777803\":\"left\",\"469777804\":\"o\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"2\"><b><span data-contrast=\"auto\">\u00a0<\/span><\/b><span data-contrast=\"auto\">Although not an ideal option, some plans allow for a 50% loan, with a $50,000 maximum, and you must repay the money within five years.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Pay with a Credit Card<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li data-leveltext=\"o\" data-font=\"Courier New\" data-listid=\"6\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":1440,\"335559991\":360,\"469769226\":\"Courier New\",\"469769242\":[9675],\"469777803\":\"left\",\"469777804\":\"o\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"2\"><b><span data-contrast=\"auto\">\u00a0<\/span><\/b><span data-contrast=\"auto\">This offers the most control and flexibility to make payments. The disadvantages are that some cards come with higher interest rates than your tax debt interest. However, higher credit card balances could negatively impact your credit score.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2><b><span data-contrast=\"auto\">Mistakes to Avoid if You Owe the IRS<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/h2>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Don\u2019t avoid the IRS<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li data-leveltext=\"o\" data-font=\"Courier New\" data-listid=\"3\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":1440,\"335559991\":360,\"469769226\":\"Courier New\",\"469769242\":[9675],\"469777803\":\"left\",\"469777804\":\"o\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"2\"><b><span data-contrast=\"auto\">\u00a0<\/span><\/b><span data-contrast=\"auto\">This is never a good idea. Even if you can\u2019t afford to pay the complete tax bill, or can\u2019t pay on time, don\u2019t put off filing. The consequences of paying late fees and interest rates are more significant. So, it is a good idea to contact the IRS and set up an extension or payment plan.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Don\u2019t make a rushed payment decision<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li data-leveltext=\"o\" data-font=\"Courier New\" data-listid=\"3\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":1440,\"335559991\":360,\"469769226\":\"Courier New\",\"469769242\":[9675],\"469777803\":\"left\",\"469777804\":\"o\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"2\"><b><span data-contrast=\"auto\">\u00a0<\/span><\/b><span data-contrast=\"auto\">Take your time to compare interest rates, fees, and repayment terms for each payment option you are considering. The cost of borrowing may serve to compound your debt rather than offer relief.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":720,\"335559991\":360,\"469769226\":\"Symbol\",\"469769242\":[8226],\"469777803\":\"left\",\"469777804\":\"\uf0b7\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Don\u2019t ignore the penalties the IRS imposes<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li data-leveltext=\"o\" data-font=\"Courier New\" data-listid=\"3\" data-list-defn-props='{\"335552541\":1,\"335559684\":-2,\"335559685\":1440,\"335559991\":360,\"469769226\":\"Courier New\",\"469769242\":[9675],\"469777803\":\"left\",\"469777804\":\"o\",\"469777815\":\"hybridMultilevel\"}' aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"2\"><b><span data-contrast=\"auto\">\u00a0<\/span><\/b><span data-contrast=\"auto\">No one in the United States goes to jail for failure to pay taxes, despite what you may have heard. However, there are other measures that the IRS can take to make your life pretty miserable.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2><b><span data-contrast=\"auto\">The following is a sampling of what the IRS can do<\/span><\/b><span data-contrast=\"auto\">\u202f<\/span><a href=\"https:\/\/www.findlaw.com\/tax\/tax-problems-audits\/what-to-expect-if-you-don-t-pay-your-taxes.html\"><span data-contrast=\"none\">if you\u202f<\/span><\/a><a href=\"https:\/\/www.findlaw.com\/tax\/tax-problems-audits\/what-to-expect-if-you-don-t-pay-your-taxes.html\" target=\"_blank\" rel=\"noopener\"><span data-contrast=\"none\">fail to resolve your tax issues<\/span><\/a><span data-contrast=\"none\">:<\/span><span data-ccp-props='{\"134233117\":true,\"134233118\":true,\"335559685\":720}'>\u00a0<\/span><\/h2>\n<ul>\n<li><span data-contrast=\"auto\">File a tax lien against you<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Levy your bank account<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Garnish your wages<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Close down your business<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Seize and sell your home<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Damage employment and business relationships<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Assess you personally for corporate employment taxes<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Put you in a monthly installment payment arrangement you can\u2019t afford<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Contact your banker, neighbors, friends, and business associates concerning your tax liabilities.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"auto\">Go after other people to whom you have transferred your assets.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<h2><b><span data-contrast=\"auto\">Get Your Tax Situation Under Control with Help from Waters Hardy<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/h2>\n<p><span data-contrast=\"auto\">Waters Hardy is a group of competent tax planning and compliance experts who can help you address your tax problem and figure out a way to make it right quickly. If you need some financial advice from a well-rounded and experienced team, look no further.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">With our professional tax preparation services, we can help turn your situation around. We can help you determine the best way to proceed and develop a personalized tax plan. This way you can feel confident and be at ease knowing the money owed is under control. There\u2019s no tax problem too big for our tax experts to solve. <a href=\"https:\/\/watershardy.com\/contact-us\/\" target=\"_blank\" rel=\"noopener\">Contact us<\/a> today.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/watershardy.com\/what-you-need-to-know-if-you-owe-money-to-the-irs\/\">Do You Owe Money to the IRS? Here\u2019s What You Need to Know\u202f<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/watershardy.com\/\">Waters Hardy and Co. P.C.<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Paying taxes is not a pleasant experience. Especially if you know that a large amount is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-27014","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Do You Owe Money to the IRS? Here\u2019s What You Need to Know\u202f - MDC Training<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Do You Owe Money to the IRS? Here\u2019s What You Need to Know\u202f - MDC Training\" \/>\n<meta property=\"og:description\" content=\"Paying taxes is not a pleasant experience. Especially if you know that a large amount is [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/c1mdevsite.com\/mdctraining.ca\/do-you-owe-money-to-the-irs-heres-what-you-need-to-know\/\" \/>\n<meta property=\"og:site_name\" content=\"MDC Training\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-19T04:09:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c1mdevsite.com\/mdctraining.ca\/wp-content\/uploads\/2022\/06\/pexels-rodnae-productions-7947997-scaled-e1655527460535-768x512-1.jpg\" \/>\n<meta name=\"author\" content=\"sitemanager\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"sitemanager\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/c1mdevsite.com\/mdctraining.ca\/do-you-owe-money-to-the-irs-heres-what-you-need-to-know\/\",\"url\":\"https:\/\/c1mdevsite.com\/mdctraining.ca\/do-you-owe-money-to-the-irs-heres-what-you-need-to-know\/\",\"name\":\"Do You Owe Money to the IRS? Here\u2019s What You Need to Know\u202f - MDC Training\",\"isPartOf\":{\"@id\":\"https:\/\/c1mdevsite.com\/mdctraining.ca\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/c1mdevsite.com\/mdctraining.ca\/do-you-owe-money-to-the-irs-heres-what-you-need-to-know\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/c1mdevsite.com\/mdctraining.ca\/do-you-owe-money-to-the-irs-heres-what-you-need-to-know\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/c1mdevsite.com\/mdctraining.ca\/wp-content\/uploads\/2022\/06\/pexels-rodnae-productions-7947997-scaled-e1655527460535-768x512-1.jpg\",\"datePublished\":\"2022-06-19T04:09:15+00:00\",\"dateModified\":\"2022-06-19T04:09:15+00:00\",\"author\":{\"@id\":\"https:\/\/c1mdevsite.com\/mdctraining.ca\/#\/schema\/person\/879a9cfa83b40c7f0b0cac22de24f49c\"},\"breadcrumb\":{\"@id\":\"https:\/\/c1mdevsite.com\/mdctraining.ca\/do-you-owe-money-to-the-irs-heres-what-you-need-to-know\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/c1mdevsite.com\/mdctraining.ca\/do-you-owe-money-to-the-irs-heres-what-you-need-to-know\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/c1mdevsite.com\/mdctraining.ca\/do-you-owe-money-to-the-irs-heres-what-you-need-to-know\/#primaryimage\",\"url\":\"https:\/\/c1mdevsite.com\/mdctraining.ca\/wp-content\/uploads\/2022\/06\/pexels-rodnae-productions-7947997-scaled-e1655527460535-768x512-1.jpg\",\"contentUrl\":\"https:\/\/c1mdevsite.com\/mdctraining.ca\/wp-content\/uploads\/2022\/06\/pexels-rodnae-productions-7947997-scaled-e1655527460535-768x512-1.jpg\",\"width\":768,\"height\":512},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/c1mdevsite.com\/mdctraining.ca\/do-you-owe-money-to-the-irs-heres-what-you-need-to-know\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/c1mdevsite.com\/mdctraining.ca\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Do You Owe Money to the IRS? Here\u2019s What You Need to Know\u202f\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/c1mdevsite.com\/mdctraining.ca\/#website\",\"url\":\"https:\/\/c1mdevsite.com\/mdctraining.ca\/\",\"name\":\"MDC Training\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/c1mdevsite.com\/mdctraining.ca\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/c1mdevsite.com\/mdctraining.ca\/#\/schema\/person\/879a9cfa83b40c7f0b0cac22de24f49c\",\"name\":\"sitemanager\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/c1mdevsite.com\/mdctraining.ca\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/cf3b8ac7e66dd2b46756c86784b1cde07b73386427427233bcac7e599014ef9c?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/cf3b8ac7e66dd2b46756c86784b1cde07b73386427427233bcac7e599014ef9c?s=96&d=mm&r=g\",\"caption\":\"sitemanager\"},\"sameAs\":[\"https:\/\/c1mdevsite.com\/mdctraining.ca\"],\"url\":\"https:\/\/c1mdevsite.com\/mdctraining.ca\/author\/sitemanager\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Do You Owe Money to the IRS? Here\u2019s What You Need to Know\u202f - MDC Training","robots":{"index":"noindex","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"og_locale":"en_US","og_type":"article","og_title":"Do You Owe Money to the IRS? Here\u2019s What You Need to Know\u202f - MDC Training","og_description":"Paying taxes is not a pleasant experience. Especially if you know that a large amount is [&hellip;]","og_url":"https:\/\/c1mdevsite.com\/mdctraining.ca\/do-you-owe-money-to-the-irs-heres-what-you-need-to-know\/","og_site_name":"MDC Training","article_published_time":"2022-06-19T04:09:15+00:00","og_image":[{"url":"https:\/\/c1mdevsite.com\/mdctraining.ca\/wp-content\/uploads\/2022\/06\/pexels-rodnae-productions-7947997-scaled-e1655527460535-768x512-1.jpg","type":"","width":"","height":""}],"author":"sitemanager","twitter_card":"summary_large_image","twitter_misc":{"Written by":"sitemanager","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/c1mdevsite.com\/mdctraining.ca\/do-you-owe-money-to-the-irs-heres-what-you-need-to-know\/","url":"https:\/\/c1mdevsite.com\/mdctraining.ca\/do-you-owe-money-to-the-irs-heres-what-you-need-to-know\/","name":"Do You Owe Money to the IRS? Here\u2019s What You Need to Know\u202f - MDC Training","isPartOf":{"@id":"https:\/\/c1mdevsite.com\/mdctraining.ca\/#website"},"primaryImageOfPage":{"@id":"https:\/\/c1mdevsite.com\/mdctraining.ca\/do-you-owe-money-to-the-irs-heres-what-you-need-to-know\/#primaryimage"},"image":{"@id":"https:\/\/c1mdevsite.com\/mdctraining.ca\/do-you-owe-money-to-the-irs-heres-what-you-need-to-know\/#primaryimage"},"thumbnailUrl":"https:\/\/c1mdevsite.com\/mdctraining.ca\/wp-content\/uploads\/2022\/06\/pexels-rodnae-productions-7947997-scaled-e1655527460535-768x512-1.jpg","datePublished":"2022-06-19T04:09:15+00:00","dateModified":"2022-06-19T04:09:15+00:00","author":{"@id":"https:\/\/c1mdevsite.com\/mdctraining.ca\/#\/schema\/person\/879a9cfa83b40c7f0b0cac22de24f49c"},"breadcrumb":{"@id":"https:\/\/c1mdevsite.com\/mdctraining.ca\/do-you-owe-money-to-the-irs-heres-what-you-need-to-know\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/c1mdevsite.com\/mdctraining.ca\/do-you-owe-money-to-the-irs-heres-what-you-need-to-know\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/c1mdevsite.com\/mdctraining.ca\/do-you-owe-money-to-the-irs-heres-what-you-need-to-know\/#primaryimage","url":"https:\/\/c1mdevsite.com\/mdctraining.ca\/wp-content\/uploads\/2022\/06\/pexels-rodnae-productions-7947997-scaled-e1655527460535-768x512-1.jpg","contentUrl":"https:\/\/c1mdevsite.com\/mdctraining.ca\/wp-content\/uploads\/2022\/06\/pexels-rodnae-productions-7947997-scaled-e1655527460535-768x512-1.jpg","width":768,"height":512},{"@type":"BreadcrumbList","@id":"https:\/\/c1mdevsite.com\/mdctraining.ca\/do-you-owe-money-to-the-irs-heres-what-you-need-to-know\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/c1mdevsite.com\/mdctraining.ca\/"},{"@type":"ListItem","position":2,"name":"Do You Owe Money to the IRS? Here\u2019s What You Need to Know\u202f"}]},{"@type":"WebSite","@id":"https:\/\/c1mdevsite.com\/mdctraining.ca\/#website","url":"https:\/\/c1mdevsite.com\/mdctraining.ca\/","name":"MDC Training","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/c1mdevsite.com\/mdctraining.ca\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/c1mdevsite.com\/mdctraining.ca\/#\/schema\/person\/879a9cfa83b40c7f0b0cac22de24f49c","name":"sitemanager","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/c1mdevsite.com\/mdctraining.ca\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/cf3b8ac7e66dd2b46756c86784b1cde07b73386427427233bcac7e599014ef9c?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/cf3b8ac7e66dd2b46756c86784b1cde07b73386427427233bcac7e599014ef9c?s=96&d=mm&r=g","caption":"sitemanager"},"sameAs":["https:\/\/c1mdevsite.com\/mdctraining.ca"],"url":"https:\/\/c1mdevsite.com\/mdctraining.ca\/author\/sitemanager\/"}]}},"_links":{"self":[{"href":"https:\/\/c1mdevsite.com\/mdctraining.ca\/wp-json\/wp\/v2\/posts\/27014","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/c1mdevsite.com\/mdctraining.ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/c1mdevsite.com\/mdctraining.ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/c1mdevsite.com\/mdctraining.ca\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/c1mdevsite.com\/mdctraining.ca\/wp-json\/wp\/v2\/comments?post=27014"}],"version-history":[{"count":0,"href":"https:\/\/c1mdevsite.com\/mdctraining.ca\/wp-json\/wp\/v2\/posts\/27014\/revisions"}],"wp:attachment":[{"href":"https:\/\/c1mdevsite.com\/mdctraining.ca\/wp-json\/wp\/v2\/media?parent=27014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/c1mdevsite.com\/mdctraining.ca\/wp-json\/wp\/v2\/categories?post=27014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/c1mdevsite.com\/mdctraining.ca\/wp-json\/wp\/v2\/tags?post=27014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}