Facing IRS Troubles? Here’s How to Take Back Control of Your Business

 As a small business owner, you’ve probably heard the saying: nothing is certain except death and taxes. But what happens when those taxes catch up to you in ways you didn’t expect? Whether it’s an overlooked payment, a miscalculation, or an honest mistake, tax debt can quickly spiral into a source of stress that keeps you up at night.  

But here’s the good news: it’s not as hopeless as it seems.  

Small business owners often think of the IRS as an unbeatable foe, but in reality, it’s an organization that *can* work with you—if you know how to approach the situation. The key is taking action sooner rather than later.  

Step 1: Open the Envelope 

If you’ve ever avoided an IRS notice like it’s an ex texting, you’re not alone. But burying your head in the sand will only make things worse. IRS letters are scary, yes, but they’re also your first step toward resolving the problem. The quicker you understand what they’re asking for, the faster you can come up with a solution.  

Step 2: Identify the Problem Level  

Not all tax debt is created equal. It’s helpful to think of tax issues as falling into one of two categories:  

1. “Baby Problems” – Small debts or missed payments that can usually be resolved by catching up or setting up a payment plan.  
2. “Monster Problems” – Larger debts, audits, or recurring non-compliance that require expert intervention.  

Knowing where your situation lands can help you decide whether to tackle it yourself or bring in a pro.  

Step 3: Understand Your Options  

Contrary to popular belief, the IRS isn’t a heartless robot looking to bankrupt you. There are several tools at your disposal to make repayment more manageable:  

• Installment Agreements: Pay your debt in smaller, manageable chunks.  
• Offer in Compromise: Settle your debt for less than what you owe if you qualify.  
• Uncollectible Status: Temporarily pause collections if your financial situation makes repayment impossible.  

The trick is knowing which option to pursue and how to navigate the application process effectively.  

Step 4: Build a Strong Financial Team  

Behind every financially secure business is a great bookkeeper or accountant. These professionals are your first line of defense against tax troubles, helping you stay compliant with estimated payments, payroll taxes, and other IRS requirements.  

Don’t have one yet? Consider it an investment in your sanity—and your business’s future.  

Step 5: Don’t Go It Alone  

When tax issues get overwhelming, hiring an expert can be a game-changer. Someone like Morgan Anderson, founder of Golden Lion Tax Solutions, specializes in helping small business owners regain control. With decades of experience and a reputation as “The IRS Whisperer,” Morgan has shown that even six-figure tax debts can be negotiated down to manageable solutions.  

Want to Learn More?  

If the IRS has you breaking into a cold sweat, don’t worry—you’re not in this tax nightmare alone. Tune into Episode #190 of The Liquid Lunch Project Podcast, where Morgan Anderson spills the secrets to taming the tax beast. From jaw-dropping success stories to no-BS strategies, she’s got you covered. It’s time to face those IRS fears and take back the reins of your financial future.

[Click here to listen now]

Taking the fear out of dealing with the IRS starts with understanding your options—and acting on them. Don’t let tax troubles derail your business. Start small, get informed, and take the next step toward peace of mind.