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Tax Debt Is A Serious Matter

August 1st

Most of us are aware of the serious nature of paying taxes. While not everyone experiencing tax debt problems can help their situation, many people do avoid paying their taxes for various reasons. For those who think they can dodge the IRS or state taxes, they could face some serious consequences.

Troublesome Future

Unpaid taxes generally don’t warrant serious action right away. In most cases, the IRS sends a letter of delinquent or unpaid taxes to the taxpayer. Phone calls may be made in efforts to get in contact with the taxpayer, or an IRS representative may visit someone’s home. The IRS does make good faith efforts in collecting their money prior to implementing more serious consequences, but when these efforts go unanswered the taxpayer could find themselves in deeper trouble.

The IRS maintains the right to garnish wages in order to collect on unpaid taxes. This may be through one’s employer or even bank, whereby access to bank funds could be seized. The IRS may also place a lien on one’s property to stake claim on any profits of the home in order to satisfy debts. Tax liens can be costly and are often a lengthy process to reverse once implemented. Increased fines and penalties, along with the possibility of lawsuits also arise with continually unpaid taxes.

Anyone experiencing trouble paying their tax debts is advised to get in contact with a tax debt lawyer immediately to review their options for repayment. s


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