Most people assume that once they owe the IRS money, they are required to pay them until the debt is fully resolved, no matter how long it’s been since the debt originated. Luckily for them, that’s not necessarily true. Read more
Marriage is all about teamwork: two people who pledge to stick together for better or worse, richer or poorer, and in sickness and in health. And although some exceptions do apply, there’s no better practical example of this vow than a married couple jointly filing their annual income taxes. Read more
The IRS works with taxpayers to develop installment agreements that allow them to pay their delinquent balance over time and get back into compliance with both the IRS and the State of Maryland. If you enter into one of these installment agreements, you can choose how much you pay each month as long as you pay off the full amount within six years.
Installment agreements offer a great opportunity for you to pay your taxes in full on a set timeline, and they can help you avoid liens, levies, garnishments, and other potential negative consequences. However, making late payments or missing payments altogether can put you into default, which can lead to trouble.
