If the Taxpayer is able to pay the amount in full on the date of April 15th annually (or with an extension)? No harm, no foul...However, should a balance owed be identified year in and year out, the balance can, and will become hurtful with undesirable penalties and interest accruing often doubling or tripling the original amount owed. For clarity, one way or the other, the IRS or State tax debt amount owed will need to either be reduced, abated or correctly identified for the Taxpayer to realize an equitable position.
Here is a little free advice; if the scenario described above reads familiar? Ask your employer for a Form W-4 and resubmit the correct allowable amount of exemptions claimed. A possible consequence is as follows. The IRS has been known to issue, "Lock-in" letters to employers ordering the Taxpayer to withhold "0" with or without the employee's approval. Usually "0" exemption claims will lead to refund, awesome, think of it as a savings account. Furthermore, should the Taxpayer have a balance owed either to the U. S. Treasury (IRS) or the State Taxing authority, rest assured, the balances owed the Taxpayer will be "offset" to satisfy the oldest back tax debt of record.
Every day, DWK Tax Group runs across Americans in a panic, stressed out, battling, staving off aggressive collection efforts requiring answers. If the Taxpayer is ready to make conscious change dial, 1 - 8 6 6 - 2 2 6 - 6 1 0 2 for a free of charge detailed analysis to allow DWK the ability to ascertain the possibility of realizing IRS or State Tax Relief. Or, click on http://dwktaxgroup.com/
Grab a paystub, we will need 20 minutes of your time, DWK Tax Group will only accept your case if we can save you money. Office hours are 9:00AM EST to 8:00PM EST, Monday through Friday.
Flat Fee, affordable pricing with reasonable retainers, below industry standards.
No call center, speak to managing partners or Enrolled Agent or Tax Attorneys of whom are accountable to you should DWK Tax accept your case.
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Taxpayer conduct your due diligence, type name of potential firm you are interested in, you'll be surprised as to what you see.
Thank you for your time in advance...