Back Tax Debt - Noose Around Your Neck Or Golden Opportunity?

Many taxpayers owe back tax. If you are one ofOffer in Compromise, installment agreement, wage
them, maybe you are thinking if you ignore thisgarnishment release, currently not collectible status,
problem, it will go away. Maybe you are afraid that ifbank levy release, and innocent spouse relief if
you do something it will create even more problems.applicable.
We know that IRS Problems can be scary. This is aThese steps will help you get your back tax debt in
serious matter. You must deal with this immediately soorder:o Get all your tax documents together: tax
you are not assessed with even more debt with theforms, W2s, etc.o Prepare your tax returns: either by
addition of the interest and penalty charges. Let ouryourself or with the help of a tax professionalo Protect
firm help you reduce and/or solve your IRS Problems.your refunds: yes, you might have a refund waiting for
Do not wait another day. Start the process now soyouo Pay your tax debts in full: create a plan to
you and your family can start a new chapter in youraccomplish thiso Plan ahead for next year: find
lives.strategies to reduce your taxes for next year
To help you understand how to deal with back taxes,It is important to remember that when filing back taxes
it is important to know what tactics the IRS uses.that you have to file on paper and they need to be
These tactics include written or face-to-face audits,mailed to the IRS. You cannot file electronically. If you
federal tax liens, wage garnishments or levies, seizureshave multiple years to file, mail each year in a separate
of property and bank accounts, and even theenvelope and send them Certified Mail. This will give
possibility of jail.you proof that they were received by the IRS. You
Did you know that you can negotiate with the IRS?can also hand deliver your tax returns. This is
Negotiate you say? Yes, you can negotiate with theespecially important if there is a time factor. If you take
IRS. Negotiating with the IRS may help to reduce thealong copies of the first page of each return, you can
amount you owe. If this figure can be reduced to aask that they be stamped as received so you have
size that you can afford to pay, your IRS Problemsevidence of receipt.
are gone. Among the options we can consider are