Although taxes are something that all Americans must pay each year, sometimes the United States IRS can change the situation a bit. In previous years we have encountered exceptional situations due to the pandemic and its aftermath. That is why today the Internal Revenue Service will directly and indirectly help some Americans.
When a United States citizen has a tax debt with the IRS, reminders are usually sent from the IRS offices. Well, these reminders have not been sent in recent years to some of the Americans who should have gotten them.
This means that Americans with tax debts who have not gotten the reminders may not have to pay these taxes. In total, there have been nearly 5 million reminders not sent. The exact number is not 5 million, but it is very close, so that is a lot of Americans who are benefiting from this advantage.
Who will get IRS tax forgiveness?
Every citizen is in a unique situation, that is true, but in order to get this tax forgiveness break it is mandatory to take into account that the American must earn less than $400,000 a year. Seeing that this is a very high figure, many Americans will be able to have access to IRS tax forgiveness.
However, not all Americans will be able to take advantage of this discount, as it is very specific. The tax forgiveness will come in the form of an absence of a letter, but that does not mean that the letter will not arrive in the future. It may be that our letter with the tax payment claim is on its way, but it may also be that it never arrives.
The recommendation is that we do nothing until we get one of these letters. The letter may not arrive and we could have the IRS tax payment forgiven. Likewise, it could also be that we have already paid the taxes and the Internal Revenue Service forgives this. If we are in this situation we could get a refund or the money we have paid extra may be used to pay future taxes.
How do I know if I get tax forgiveness?
There is no exact way to know this unless we go to an IRS office, contact them by phone or make an online inquiry. Only then could they be 100% sure if we are exempt from payment of prior years’ taxes.
However, the best option is to wait until the letter arrives with the payment claim. In most cases, Americans will have to pay these taxes, but they should wait until the letter arrives to find out exactly how much money they have to pay.
If we wait to get the letter from the IRS because we think we will have to pay taxes, it is a good idea to save part of our salary or our retirement check from this moment on. This is the only way to make sure that we will have enough money for our monthly expenses and to pay any possible fines and penalties that come from unpaid taxes.