Tax Dictionary – Owe IRS

IRS Definition

While most taxpayers get a refund from the IRS when they file their taxes, some do not. The IRS offers several payment options for those who owe taxes.

More from H&R Block

You owe the IRS if you don’t pay the full tax balance shown on your federal income tax return by the due date.

The IRS can charge penalties and interest on that tax balance, and those will add up until you pay off the tax debt.

The IRS will send you increasingly urgent notices requesting payment. If the IRS doesn’t receive a response, the IRS can begin enforced collection action, such as issuing a levy on your wages or bank accounts, or filing a federal tax lien.

Learn what to do if you owe the IRS and can’t pay.

Related Topics

Related Resources

IRS Letter 5071C – Potential Identity Theft During Original Processing with Online Option

Learn more about letter 5071C, why you received it, and how to respond to an IRS 5071C letter with help from the tax experts at H&R Block.

IRS Notice CP163 – Reminder of Overdue Taxes

Learn more about notice CP163 and how to handle an IRS tax bill for your business with help from the tax experts at H&R Block.

IRS Letter 4903 – No Record of Receiving Your Tax Return

Learn more about letter 4903, why you received it, and how to handle an IRS 4903 letter with help from the tax experts at H&R Block.

IRS Notice CP87C – You Need to Make Sure Someone Qualifies As Your Dependent

Find more information on IRS Notice CP87C and claiming dependents on tax returns. Get help from the tax experts at H&R Block.