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We help individuals in East Tennessee and across the country with all their tax, tax planning and retirement needs.

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What You Need to Know

Back Taxes Relief

How Can I Clear Up Back Taxes?

The Solution Is a Lot More Straightforward Than You Think

Make absolutely no mistake about it: Back taxes are a very serious issue that you'll want to address as soon as you possibly can. A lot of people who can't pay their entire tax bill for whatever reason usually ignore it and just hope the problem goes away... but that's a surefire way to guarantee that it only builds and gets worse over time. Uncle Sam has a photographic memory, and rest assured, he does not forget. He will come knocking at your door once again. It's not a question of "if," but "when."

Having said all of that, back taxes are also not the catastrophe that you probably thought they were. Yes, they can add huge amounts of stress to your daily life — but they don't necessarily have to if you go about things in the right way. You just need to keep a few key things in mind.

The Ins and Outs of Back Tax Relief

The most important thing you need to understand about back tax relief is that, once again, time is not necessarily on your side. Interest and penalties are constantly being added to the amount you owe, which is only getting bigger as the days go by.

People who are self-employed tend to be particularly vulnerable to this type of problem because they're supposed to be setting aside funds to pay the IRS all year long on a quarterly basis. This isn't necessarily always an option, particularly in the uncertain economic times that we're currently living in, and this can lead to an issue that quickly snowballs in the worst possible way.

Not only can the IRS enforce the collections process to begin (which they often will), but they can also make your employer garnish your wages and send huge parts of each check to cover your debt (which they often do).

But the good news is that no matter how bad the situation may be or how overwhelmed you may feel, help is always available.

Both private individuals and businesses can and often do get assistance with any and all tax problems they're facing. Partnering with the right tax or financial professional today is, therefore, the first step toward making sure that this problem goes away tomorrow.

At Polaris Accounting & Tax LLC, our passionate team of qualified tax professionals will do whatever it takes to provide you with the help and relief you need when you need it the most. Just a few of the ways that we've helped clients in the past include but are not limited to things like:

  • Filing old returns and getting someone's tax situation in order moving forward.

  • Negotiating with the IRS on behalf of clients to establish a valid and completely reasonable payment plan.

  • Getting the IRS to lift or subordinate liens.

  • Making use of viable routes like the "Innocent Spouse" rule and others.

  • Filing an "Offer in Compromise" to settle the debt for far less than the original amount.

  • And much, much more.

Larger tax law firms and similar companies can certainly provide these types of services, but their cost is usually more than small businesses and private citizens feel comfortable with. They're more concerned with their bottom line than with successful outcomes. There are also a lot of tax professionals on the Internet who claim to be able to assist you, but they aren't necessarily qualified in all the ways that we are.

Only by partnering with a qualified team of people will you be put in the best possible position to guarantee a favorable outcome moving forward. At Polaris Accounting & Tax LLC, we're honored for the opportunity to be all of this and more for you.

Above all else, know that this is not something that you should have to spend time worrying about or let negatively affect your quality of life. Not with the team at Polaris Accounting & Tax LLC by your side, that is.

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