IRS Tax Problems
When you don’t pay your taxes or fail to file tax returns, it is inevitable that you will attract the attention of the IRS. IRS tax problems can sneak up on you and wreak havoc in your life. Allowing a past tax debt to linger leads to ever-increasing penalties and interest amounts. IRS solutions to these problems come in the form of enforced collection activity. IRS enforced collection efforts include wage garnishments, liens on your belongings, and bank levies.
It is in your best interest to deal with IRS tax problems now; the longer you wait, the worse the problems become. You could find one day that the IRS has garnished your wages to recoup its debt. Your employer will be forced to pay a potentially significant percentage of your check to the IRS. There is no guarantee that you will be left with enough money to pay your bills or buy food. The IRS can also place a lien on your belongings. A lien may cause problems in the sale or your home, or interfere with your credit. A levy will force your bank to send your money to the IRS, putting your financial future in jeopardy.
Fortunately, there are ways to avoid or lessen the impact of these IRS tax problems. You may qualify to make installment payments to the IRS on your back taxes. You may also be able to eliminate your IRS tax problems entirely by negotiating a settlement for a lower amount through an offer in compromise, which is a legal resolution negotiated with the IRS to settle your debt for an amount that is realistic for you to afford.
The most effective way to solve these problems is to let a tax professional negotiate with the IRS for you. At CRA Tax Rescue, our team of tax lawyers and tax specialists have decades of combined experience obtaining IRS settlements, and we have a stellar reputation not only among our clients, but also with the IRS. It is not uncommon for us to settle tax problems for 90 percent less than the amount owed!
Free no-risk confidential consultations are always available, so we encourage you to give CRA Tax Rescue a call today to develop a strategy for your tax problem.