Money for IRS business taxes
Fast Funding takes care different types of taxes:
1. US Federal
2. State
3. Back Taxes & OIC Offer In Compromise
4. Payoff Liens
5. Settlements
6. Payroll
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The money can also be used to pay quarterly payments , OIC offer in compromise settlements, tax extension payments and income tax settlements. Check out 10 uncommon reasons for needing a business loan, as there are quite a few.
How to get money to pay IRS and State business taxes:
Identify business funding programs that offer money to pay IRS business back taxes, open tax liens and OIC, offer in compromise, and settlements.
Select programs are available to satisfy the need to pay your specific tax debt. Liens of all amounts are usually considered by these specialty programs. Some may require additional collateral such as real estate, listed stock, or other collateral that covers the amount of the upaid federal debt. Open tax liens over $10,000 are more difficult to get money for without collateral.
After evaluating, choose the program that is most likely to provide the capital needed for your business to pay.
Contact the lender. Check features, benefits and program requirements. Ask about restrictions, including what is needed for approval and closing.
When you determine your business meets the requirements, apply for funding.
For any offers made, review the full terms and determine if your business can make the payments. If so, provide the items needed by the funder to close the transaction.
DocuSign Secure 15 Second Info Form Here.
Call 919-771-4177 for more info.
FAQ Frequently asked questions on how to get money to pay irs business taxes.
What are my chances to qualify for a loan to pay off my business taxes?
If you have sales then you have an outstanding chance to get approved. Unsecured loans are available with terms between 2 to 18 months. Strong credit may allow you to get up to 60 months based on the sales or collateral you have. Even more loan options include asset based against equipment or real estate.
How long does it take to get funding?
Processing time from application to funding on unsecured approvals is 2-3 business days. This depends on how many tax liens you have and if they are being paid off at closing.
Do I have to be in a payment plan to get the loan?
Being in a payment plan is preferred but not required. If you have a payment plan or OIC offer in compromise, then provide documentation to increase your approval amount.
What if I have an open tax lien?
We have programs for your business to payoff and settle an open tax lien. Approval depends on the amount of the lien and business sales. Other factors include time in business and assets.
Can I get approved if the IRS has already filed a lien against me?
A lien on you or your credit that is already in place is usually not the deciding factor. You still have an excellent opportunity to get money for your business. It is the cash flow of the business and being able to show documentation on the lien that is most critical.
Do I payoff the IRS or state tax lien myself?
You can be funded into your business checking account and payoff the IRS or state tax lien yourself. A requirement for closing your business loan may be for the lien to be paid off by the lender at closing.
Do I need collateral for a business loan to pay IRS taxes?
Having collateral is not a requirement. For larger tax liens the borrower may have to use real estate in order to payoff the full amount.
If I filed an extension can I still get a loan to pay business taxes?
You can still get a loan to pay even if you filed an extension and paid estimated taxes. Provide a copy of your completed IRS Extension form 4868 when you apply.
In conclusion, get money to pay IRS business back taxes, liens and OIC, offer in compromise, and settlements.