We have all been there. Tax season is a difficult time for everyone. Ever since the first income tax law was enacted in 1862, to support the Civil War, taxes have been making our lives miserable. It is especially difficult if you are facing tax penalties.
If you are regularly having trouble making your payments, the government may begin taking actions like issuing federal tax liens, which means that the government can make a legal claim against your property if you do not pay a tax debt.
You could also face IRS garnishment, which means that your employer could be required to withhold your earnings in order to pay your debt. This is usually in accordance with a court order or by some equivalent procedure, such as the IRS or state tax collection.
Managing debt is already tough, but if you fall behind on your payments the fines can quickly rise out of your control. The fees accumulated by a “failure to pay penalties” are among the most common (and damaging) things a financially distressed taxpayer can see on his or her bill.
If you need back tax relief, consider seeing if you are eligible for the IRS Offer in Compromise program. Not everyone is eligible, but if you are, you may be able to settle your debt for less than what you owe. As of July 15, 2006, the IRS requires that an upfront, nonrefundable payment of 20 percent plus 150.00 US dollars (also nonrefundable) be submitted along with your Offer of Compromise. Your offer will be considered by the IRS.
Another way to stop wage garnishment immediately is to file bankruptcy. If you think this is an option for you, talk to a lawyer about your legal options as soon as possible.
For further help with back taxes, consider consulting a tax professional. Be sure to check his or her qualifications and rates before you do so, as some charge high upfront fees. However, if you are looking for real back tax relief, these are the people who know how to help you. For more, read this link: ctaxrelief.com
7 responses to “When Taxes Are Taxing, Seek Relief”
STOP THE SOCIALIST IRS FROM TAKING ALL OUR MONEY AND GIVING IT TO OBAMA
I dont even want to hear about the IRS right now. Regardless of your group’s political leanings, nobody should be targeted more than anyone else. Thats not the American way! Or, at least, it shouldnt be.
I dont even want to hear about the IRS right now. Regardless of your group’s political leanings, nobody should be targeted more than anyone else. Thats not the American way! Or, at least, it shouldnt be.
I dont even want to hear about the IRS right now. Regardless of your group’s political leanings, nobody should be targeted more than anyone else. Thats not the American way! Or, at least, it shouldnt be.
I dont even want to hear about the IRS right now. Regardless of your group’s political leanings, nobody should be targeted more than anyone else. Thats not the American way! Or, at least, it shouldnt be.
I dont even want to hear about the IRS right now. Regardless of your group’s political leanings, nobody should be targeted more than anyone else. Thats not the American way! Or, at least, it shouldnt be.
I dont even want to hear about the IRS right now. Regardless of your group’s political leanings, nobody should be targeted more than anyone else. Thats not the American way! Or, at least, it shouldnt be.