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Tax Law (Questions About Taxes)/Payment plan with unfiled taxes?

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Question
Hello,

I have a back tax debt for 2007 of $13k. My taxes are filed up until 2011. I am gathering the info necessary to file 2012-2014 in the next coming months.

I am wondering if i am able to contact the IRS and start a payment plan now of this $13k debt with my unfiled taxes. If I can, should I if I will likely have more back taxes owed when the last 3 years are filed?

I am wondering if it's better to start paying now, or figure out all I owe at once and then start a payment plan on the whole thing.

Thank you very much for your time!

Answer
Anne,

Thanks for your question.

The sooner you start paying them the better it will be for you. It shows that you are attempting to get right with them. Also, if you file before they contact you, it will go better for you.

File Form 9465 to request an installment agreement. There are fees for doing this. Since you owe more than $10,000, it is not automatically approved.

Hope this helps.

John Stancil, CPA

Tax Law (Questions About Taxes)

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John Stancil, CPA

Expertise

I can answer questions on personal income taxes, partnerships, and some corporate income taxes. I can deal with some state tax questions. Limited gift and estate tax questions. I am also familiar with ministerial and church tax reporting issues. I am Professor Emeritus at Florida Southern College. Sales taxes and property taxes are state and local issues so I am not likely be be able to give you an in depth answer on those types of taxes. I have maintained a CPA practice, specializing in tax, for over 35 years. I am a member of the National Association of Tax Professionals, The Florida Insititute of CPA's, The NCPE Fellowship. In addition I am a Certified Mentor for SCORE. Visit my website at www.mybaldcpa.com. I also offer seminars and consultations to churches and clergy on their tax issues at www.churchtaxsolutions.com Also visit my blog, www.thetaxdocspot.com. I am listed on Tax Connections at https://www.taxconnections.com/profile/John-Stancil/12258973 Prepare and file your own taxes at www.1040stancilcpa.com

Experience

I hold a doctorate in Accounting, and am a CPA. My certifications of CIA, CFM, and CMA are inactive. I passed all certification examinations on the first attempt, and received honorable mention for my scores on the CIA exam. I have operated a CPA firm for over 37 years and have taught accounting and tax at the college level for over 35 years.

Organizations
FICPA, NATP, NCPE Fellowship, Lakeland Business Leaders

Publications
The CPA Journal, Florida CPA Today, Green Consumer, Green Business, Global Sustainability as a Business Imperative, Palmetto Review, NATP TaxPro Quarterly, Mustang Journal of Finance and Accounting.

Education/Credentials
DBA University of Memphis MBA University of Georgia BS in Accounting Mars Hill University

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