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Is My Home At Risk From The IRS #2: Cooperation

November 9th

As we have discussed, owing the IRS is not a position anyone wants to be in. Due to the serious nature of IRS collection efforts, it is possible to experience serious consequences if you don’t pay your taxes. The IRS can garnish your wages or place a tax lien on your property in efforts to collect on the debt. However, communication is key and can help protect your home from IRS tax collectors.

Cooperate With Collectors

The second most important aspect to dealing with the IRS is cooperation. Many people assume that the IRS is not willing to negotiate or handle their situation with understanding. In fact, the IRS is fairly flexible and is very willing to assist taxpayers in resolving their tax debts. However, this negotiation is a two way street and requires patience from both parties.

Let’s face it, the IRS will get their money one way or another so cooperating with them to negotiate a payment deal is your best option for avoiding unwanted consequences. Once you have gotten in contact with the IRS make an effort to be pleasant when explaining your financial situation. Offer to arrange for automatic debit of your payments or two send post-dated checks for a few months worth of your payments. This shows good faith on your part and is more likely to result in a fair tax debt payment plan.

 

 
 
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