New Beginnings: Overcoming Tax Debt with ALTA Tax Relief LLC's Expertise

ALTA Tax Relief
2 days ago
2 min read

Calculator displays "2026" next to financial documents on a desk. A pen lies nearby. Blue and white tones create a professional mood.

The New Year is a time for new beginnings. If you’ve struggled with tax debt, now is the time to change course. Many people focus on paying off back tax debt while ignoring current tax obligations. Operating in this manner will prevent you from getting an IRS Offer in Compromise approved or IRS payment agreement approved. Securing a resolution with the IRS is critical to avoid garnishments and seizures of assets.

Wooden sign with "START" text on tree stump, set against a blurred green and brown outdoor background, suggesting a fresh beginning.

Here are some tips:

File all missing returns: You must be in filing compliance to get most resolutions with the IRS. Establish a relationship with a tax preparer that can prepare any missing returns and file your returns in the future. A good tax preparer can keep you on track.
Pay current taxes. If you are owing tax year and year, you need to start paying current taxes. If you receive a W-2 or pension income, make sure to withhold enough federal and state income tax. If you are self-employed, make estimated tax payments every quarter. For 2026, estimated tax payments are due on April 15, June 15, and September 15, 2026, and January 15, 2027. You can make estimated tax payments more frequently to make it easier to make (weekly or monthly). Use your prior year’s tax return to determine how much you need to pay in.
Save money by paying current taxes. If you pay your current taxes on time, you won’t be charged penalties and interest. Taxes are due to be paid by Tax Day in April each year. If you file an extension to file in October, you will be charged penalties and interest for any tax paid after Tax Day.
Adjust business and/or living expenses. If your business consistently can’t pay its tax obligations, business expenses must be lowered or income increased to ensure it can remain compliant. If you can’t pay for all of your personal living expenses, you need to determine what you are spending money on and where you can get savings. You can try to increase your income, but make sure you are paying taxes on it.

Once you are able to maintain current tax payments and filings, you will be able to explore a resolution with the IRS. Resolutions are based upon collectability (your current financial situation). At ALTA Tax Relief, your former IRS experience will protect your rights and find you the best resolution for your unique situation.