What happens if you owe taxes but can't pay?

+1 vote
asked Mar 17, 2018 in Law & Legal by Cbushr (310 points)
What happens if you owe taxes but can't pay?

What would happen to you if you owe a huge amount of back taxes to the IRS but you're unable to pay off the back taxes to the IRS?

1 Answer

0 votes
answered Mar 17, 2018 by Adf289 (58,200 points)
You won't go to jail for not being able to pay back IRS back taxes but the IRS can sue you in court and take anything you own to pay the back taxes to the IRS.

Those things include, house, car, bank account and much more.

It's better to try to make payment arrangements with the IRS and work on paying some money to the IRS instead of paying nothing at all.

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