Episode 4

Published on:

21st Jan 2022

Nemeth IRS News - Episode 4 (Need Help Resolving Taxes?)

If you don’t pay your taxes—then what are called ‘back taxes’ begin to add up. Basically, back taxes are any taxes that you have failed to pay over time. And the more time that passes, the more penalties and interest that will accrue, making your overall debt bigger.

In the latest installment of Nemeth IRS News, we're diving into several options available for people struggling with back tax debts. This can get complicated, so we always suggest you work with a tax professional!


0:07 - Introduction and an overview on the topic of the day

1:37 - Jamie joins the show and introduces herself

1:54 - Should you file your late tax returns even if you can't pay them?

2:40 - A Substitute for Return and the details behind it

4:48 - The options for people that aren't able to write a check and clear the debt

7:33 - What is an offer in compromise?

9:50 - Payment plans with the IRS and how they work

13:45 - The consequences people can face by ignoring their tax debt

14:39 - How bankruptcy filing works

16:21 - Closing remarks

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Show artwork for Nemeth IRS News

About the Podcast

Nemeth IRS News
Got an IRS Tax Problem? We've Got Solutions
Every year the IRS sends millions of notices and letters to taxpayers for a multitude of reasons. We understand that seeing an envelope from the IRS can cause fear and anxiety! But, take a deep breath and recognize that taking care of the problem is likely a straightforward solution.

Welcome to Nemeth IRS News, featuring Nick Nemeth, Founder, of the Law Offices of Nick Nemeth, and Jamie Flores, a Managing Attorney at the firm, for in-depth tax talk!

Join us for each episode as Nick Jamie explore the world of tax law and offer solutions for resolving a variety of issues with the IRS. Every episode will feature a new topic and draw upon real examples of Nick and Jamie's client cases.