What NOT to Do If the IRS Claims You Owe Back Taxes
When it comes time to filing taxes, many taxpayers hope to be up to date on their finances and have them reported accurately. What people may not always expect, is to receive a letter stating that you owe back taxes.
While there are some people who might not fully understand the consequences of mismanaging taxes, tax evasion can equal potential jail time. So, Success Tax Relief, a tax relief firm in LaPorte, Texas is offering some helpful advice about what NOT TO DO if you owe the Internal Revenue Service (IRS) back taxes.
- Do NOT Avoid Speaking to a Professional – Failing to consult with a professional about this could put you in a difficult place and can potentially put you in further debt with the IRS. Having a professional speak directly to the IRS on your behalf will help your case. And if you feel that the IRS representative is not conducting him or herself in a professional manner, you have the option to speak with another representative or superior. You can also hire representation if you choose.
- Do NOT Avoid Notices – When you are receiving notices through the mail by the IRS, do NOT ignore them. Remember, the IRS has the right to garnish your wages and even worse—put a lien on your property to collect what you owe them. Address these notices quickly to make things right.
- Do NOT Go Unrepresented – As you proceed communicating with the IRS, it is highly recommended that a tax attorney is present. There may some terms that you might not understand. Consider professional representation that is completely dedicated to you and can even assist in helping you and the IRS come to an affordable payment agreement.
- Do Not Avoid Filing a Return – When it comes to back taxes, some people think that because they cannot afford to pay, they should not file at all. If this happens, there is a financial penalty that comes along with this kind of thinking. This penalty can go up to 25%, and once you decide to pay the bill, it will come with additional interest until it is paid in full.
- Do NOT Rush to Pay the Bill – Sometimes what people do when they owe back taxes is refinance their home or find a low interest credit card to charge. When this happens, the bill may be gone but you’re still in debt! The IRS encourages those who owe back taxes to schedule monthly payments with and if they qualify, file an extension.
If you are in trouble with the IRS and hoping to find good advice about how to relieve your tax debt, consider consulting with the tax professionals at Success Tax Relief. For over 30 years, Success Tax Relief has been hard at work ensuring that there are solutions to your tax debts. From email to phone, Success Tax Relief is available 24/7 for your every tax issue. Call us today at 1-877-825-1179. For a list of all of our services, please click here.