What to Do If You Owe Taxes

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Taxes: no one likes them. And if you’re not careful, they can pile up quickly. If you owe the Internal Revenue Service (IRS) back taxes, you might have a panicked feeling.

But that doesn’t have to be. There are ways to deal with your back taxes and the IRS. It starts with facing them. Here are some ways to deal with unpaid taxes and a list of what not to do.

Act Immediately With Overdue Taxes

The IRS imposes a penalty if you don’t pay your taxes. Most people realize this. However, many people who know they can’t pay their taxes will avoid the issue by not filing by the due date or not filing an extension.