Stacks of Bills: If you're in debt, you're not alone. Thousands are Americans are in Debt the IRS. Maybe you lost your job, maybe you got a pay cut, and maybe there's no work out there; but your taxes are still due every year. How can you pay your IRS debt when you owe other creditors, too? The answer may shock you.
The One and Only: When you're in debt, the IRS, they want you to pay one organization only. And that's the IRS. The difference between owing the IRS, and owing any other creditor, is that the IRS is a part of the Federal Government. They have the power to take your money without involving the court system. Other creditors may call you or send you letters, but their collection efforts usually stop there.
Ring, Ring, Ring... So it's established: When you owe the IRS other creditors don't matter. So will your creditors just ignore your debt? No, they want their money too! You won't get a moment of peace. Your creditors will call you day and night.
Interest is Climbing: IRS penalty and interest fees are malicious. It's bad enough that your IRS Debt quickly doubles or even triples if left unattended. You're stuck in a rut.
Make it Stop!: So you want your credit, your life, and your money back? It won't be easy! Here's a couple ways to get the IRS off your back:
-Installment Agreement: This allows you to pay off your debt to the IRS in monthly payments. Interest and penalty fees will still accrue on the account, but the IRS wont enact levies or liens on your if you pay on time each month. This also will help prove creditworthiness in the end.
-Negotiate a Settlement: Most people do not qualify to settle their tax debt. However, if you can absolutely prove that there is no feasible way that your entire tax debt will be paid off before the statute of limitations runs out, you can pay a settled debt in five or less payments.
Free at Last: When you are finally free from your Tax Debt you can work on settling out your other debts. Imagine the freedom to spend your money on your own terms. Don't pour every cent you earn into your debts. Use these tips to make your IRS Debt-free dream a reality!
Now You Have the Smoking Gun...Use it!