Introduction
If you have tax debt, then you know the burden you face when dealing with the IRS. Tax debt can lead to wage garnishments and the loss of your home and business, depending on the amount of debt that you have. Tax debt can quickly increase over time and avoiding the problem, will not help. The IRS never forgives tax debt without a fight, but there are ways to deal with the IRS to resolve your tax issues.
Step 1
One of the most important ways of dealing with tax debt is to seek the council of a good tax attorney. An attorney can help you with tax laws and knows what to do when dealing with the IRS. They can often assist you in setting up payment agreements and even settling for lower amounts so that you are free of debt.
Step 2
It is important that you meet with the IRS when there is a tax debt issue. They will often work with you to help you repay the debt and get in good standing with the IRS. They will be glad to discuss your case with you if you set up a meeting with a local IRS agent.
Step 3
As a United States citizen, it is your right to get the help of a tax advocate. A tax advocate can help you in getting your payments setup and in getting you tax relief if you are low income or need assistance. The tax advocate will work hard to give you help on your case.
Step 4
You can also ask for a tax debt hearing. If you have evidence of why you do not owe a tax debt and can provide proof, you can ask for a hearing. Your hearing will be scheduled and a decision made by a hearing board.
Step 5
You can avoid wage garnishments by contacting the IRS and setting up payments. They can work with you based on your income. Once you enter into a tax debt settlement, it is very important that you make your payments. The IRS doesn't take kindly to agreements not being kept!
Step 6
If you continue to pile up tax debt, you can lose your assets. The IRS can seize homes, businesses, properties, and more. It is imperative that you realize the seriousness of tax debt and you work quickly to protect what you own.
Step 7
Tax debt is very serious and most people don't realize the ramifications of it. Tax debt does not go away no matter how many years it has been. You can't run or hide from it, so it is important that you settle the debt as soon as possible.
Step 8
Tax debt can often be settled for much less than is owed. Often, the IRS will offer a settlement agreement for a lump sum payment. Many people are able to save thousands of dollars by accepting these types of offers.
Step 9
You must continue to file your yearly taxes when you owe tax debt. Many people avoid filing taxes because they owe, this will get you into even more trouble with the IRS and is something that you want to avoid at all costs! The IRS is very serious about collecting your taxes each year. Tax evasion is a punishable offense.
Step 10
Be mindful of any tax debt you owe and work to resolve the issue with the IRS. Despite their bad reputation, they are willing to work with people. Call them today to setup an appointment to start resolving the issue.
Tips
Hire an attorney.
Get a tax advocate.
Setup payments.
Sources and Citations
www.irs.gov
