If you (or someone you know) owe the IRS back taxes, we have some good news to share, as shown below. Please note that not all of these “breaks” apply to every situation, so this should not be taken as individualized tax advice, nevertheless you (or someone you know) may find these new tax breaks to be extremely appealing:
👉 New “Simple Payment Plan” Now Available
The IRS has launched a streamlined payment plan for individuals who owe $50,000 or less (including interest and penalties). You don’t need to fill out a bunch of forms or provide financials—just apply online or over the phone, and you’re in.
👉 Ability to Manage Payment Plan Online
The IRS has now made it much easier to manage your own payment plan online. For example, if you need to pause it, change the amount, change the bank account out of which the payments come, etc., you used to have to call IRS, wait on hold, etc. to do that. Now, you can do almost all of that online, details here: https://www.irs.gov/payments/payment-plans-installment-agreements
👉 No Tax Liens or Collection Review Required
If you go the route of automatic debit from your bank account, the process is even faster and avoids some of the scarier collection consequences.
If you (or a friend or family member) owe back taxes, now might be the easiest time in years to make it right—with the least hassle. Remember that not all this information applies to every situation, nevertheless we hope this is helpful.
Interested in reducing your tax burden in 2025 and beyond? Our tax reduction consulting service is designed to help you take full advantage of recent changes in tax law. To schedule a meeting with an Easy Tax Service Professional, please call 928-775-7000 Ext 0 and speak with our receptionist.