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Tax Debt and Back Taxes

May 29th

Tax debt and accruing back taxes can be a burden on individuals, families and even businesses.  There a number of reasons people can find themselves owing back taxes to the IRS.

Oftentimes when they get into this debt, it begins to spiral.  It can be an embarrassing situation that many try to avoid by just ignoring the problem.  Unfortunately, by ignoring the problem they are essentially digging the hole deeper and it will catch up to them.

Dealing with Tax Debt

One thing that is important to remember, though, is that the IRS wants to help you take care of your tax debt.  Of course, big brother wants to get paid, but they understand that the best way to do so is to assist those who are in need.  When you find yourself in a situation where your back taxes are piling up you should contact the IRS directly.  You will find that the stigma that surrounds them is not as bad as it is made out to be.  The operators are generally very understanding of your situation and appreciative of the fact that you are calling in an attempt to resolve your debt issues.

It is at this point that you can begin to discuss the various tax debt programs offered to you by the IRS.  Did you know that you can actually negotiate your actual monthly payments with the agents?  Granted, this is not lowering your overall amount owed, but it allows you to enroll into programs that match what you can afford.

Lastly, remember that if you continue to hide from your tax debt, the IRS will eventually come after you with tax liens, garnished wages, and other options in an attempt to collect on past debt.  Allowing them to do so can leave you searching for a tax debt attorney.

 
 
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