Do you finally want to clear IRS anxiety? Are you ready to get started on the road to a debt free life.
Negotiating with the IRS is very difficult if you owe Back Taxes.
But ignoring your IRS tax debt is the worst thing you can do.
That's because Interest and Penalties add up and make small debts grow into huge debts, and fast! Are you current with your tax filing? If you're not, that's the first step to paying your back taxes.
You cannot qualify for many tax programs that will save you money if you are not current.
Additionally, failing to file your taxes is a criminal offense.
The IRS can take you to court and if you are found guilty you could face 3 years of jail time.
Not to mention the huge bill for the court costs.
So get caught up! Once you are up to date with your Tax Filing you can start solving your tax problems.
Here are the most popular options utilized for paying Back Taxes:
Consider obtaining a loan or borrowing money from family.
The sooner you pay off the Back Tax Debt, the better! Remember, the interest and penalties do not stop accruing on your debt.
So if you don't want it to get bigger, get it paid off.
Or you can consider hiring professional help and resubmitting your Offer.
Negotiating with the IRS is very difficult if you owe Back Taxes.
But ignoring your IRS tax debt is the worst thing you can do.
That's because Interest and Penalties add up and make small debts grow into huge debts, and fast! Are you current with your tax filing? If you're not, that's the first step to paying your back taxes.
You cannot qualify for many tax programs that will save you money if you are not current.
Additionally, failing to file your taxes is a criminal offense.
The IRS can take you to court and if you are found guilty you could face 3 years of jail time.
Not to mention the huge bill for the court costs.
So get caught up! Once you are up to date with your Tax Filing you can start solving your tax problems.
Here are the most popular options utilized for paying Back Taxes:
- Settle Your Tax Debt: The "Offer in Compromise" program is also infamously known as the "Pennies on the Dollar" program.
But only a tiny percentage of people have their IRS Debt settled for very low amounts.
So do not be caught up in that gimmick.
In reality, the Offer you submit to the IRS must be fair.
It will be weighed against your assets and income before it is considered and it is very hard to qualify for the settlement. - Pay Monthly: You can pay your Tax Debt in monthly payments.
The IRS will look carefully at your entire financial situation.
Then they will determine the amount you can pay monthly based on your calculated income and assets.
This is called an "Installment Agreement".
This is a simple way to pay for your IRS Back Taxes, but you have to be careful.
If you default on your monthly payments you will be suspended from your Installment Agreement.
And on top of that, you will owe additional penalties.
Consider obtaining a loan or borrowing money from family.
The sooner you pay off the Back Tax Debt, the better! Remember, the interest and penalties do not stop accruing on your debt.
So if you don't want it to get bigger, get it paid off.
Or you can consider hiring professional help and resubmitting your Offer.
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