What to Do If You Owe the IRS Over $10,000
Feeling overwhelmed by IRS debt? You’re not alone. Many business owners — especially in home services — fall behind on taxes. But here’s the truth: the worst thing you can do is ignore it.
Let’s walk through how to get back on track without losing your business, your tools, or your peace of mind.
Step 1: Open That Letter
IRS letters may be scary, but they’re the first step to understanding your situation. Don’t toss it in a drawer — open it and see exactly what they’re asking for.
Step 2: Know What You Owe
Use your IRS account online or request a transcript. If you’re not sure what years are missing or what penalties have stacked up, we can help with a transcript pull.
Step 3: Learn Your Options
You may qualify for:
- Installment Agreement (monthly payments)
- Offer in Compromise (settle for less)
- Currently Not Collectible (pause collections)
- Penalty Abatement
The Letter could also request clarification on prior IRS contact.
Step 4: Talk to a Tax Pro
As an Enrolled Agent, I represent clients directly before the IRS. You won’t have to call the IRS alone or explain your story over and over again.
Let’s get you some breathing room.
