You have filed your returns but didn't have the money to pay
what was owed. You may think, "Oh well---I will catch up next year." Before you
know it you find yourself several years in arrears and suddenly
there is a notice from the IRS, stating that you owe
three or four times the original amount.
It's truly amazing how fast tax penalties and interest add up. Now you have a choice, you can write a big fat check and pay the full amount, including interest and penalties. Or you can just keep ignoring them while the penalties and interest keep piling up.
If you would like to discuss any issues regarding back taxes owed, please call or email Thomas R. Seitz at tseitz@wesselcpa.com
