IRS back tax help is complex. Owing the IRS can be scary and stressful. Don’t worry about it, you are not alone and the IRS knows it.
It is estimated that approximately 20 percent of federal taxes go unpaid every year. The reasons they go unpaid are many and include people income tax cheating, claiming too many exemptions, under reporting income and failure to file.
What a lot of these people don’t know, IRS back tax debt can result in heavy consequences, ranging from heavy fines and penalties, property seizure, paycheck garnishments to jail time. Clearly, not doing anything about your back taxes will almost always result in a combination of unwanted consequences.
Putting your best foot forward goes a long way when dealing with the IRS. If you think about it, just trying to resolve your back tax issues puts you on their radar as someone who is trying to do the right thing. That sets you apart from thousands of others who ignore the IRS altogether. If you owe the IRS money, they have programs that can help you resolve your issues and settle your back taxes.
More On The IRS Fresh Start Initiative
The IRS Fresh Start program offers many options to Americans in need of back tax help. The programs are designed to address specific financial issues for a taxpayer that owes back taxes to the IRS. Some of the programs include:
- Installment Agreements
- Partial Installment Agreements
- Offer In Compromise
- Penalty Abatement
- Non-collectible Status
It seems backwards to think that someone you owe money to might consider taking less money than you owe. That is exactly what some of these programs are all about. They address inabilities a taxpayer may have to payoff their tax debt, which may have resulted from:
- job loss and other employment issues
- economic downturn
- health issues
- business closure
Waiting to seek out IRS back tax help until you can afford paying you tax debt, could be a mistake. Excess income could disqualify you from one of the Fresh Start programs. More importantly, the longer you wait the higher the penalties and interest you will have to pay.
Consider Getting Professional Help
IRS guidelines are and programs are complex, I recommend getting get free advice on your back tax situations before calling the IRS. Feel free to contact a back tax professional today (Ask-A-Pro). Remember, putting your best foot forward with the IRS may go a long way to getting the help you need. Don’t wait for penalties and interest to pile up before seeking out advice professional IRS back tax help. (Get Help Now)