| Don't put it off! The longer you put your debt off, the | | | | - Unfiled taxes: Yet another reason to file your taxes. If |
| harder it will be to deal with it when the time comes. | | | | the IRS finds that you have unfiled tax returns, you will |
| Especially if you want to settle your tax debt. So what | | | | not be approved for an Offer! So take care of the |
| are you waiting for? You need to act fast to get your | | | | taxes first. If you have any taxes from previous years |
| debt under control. | | | | that you haven't filed they have to be taken care of |
| Warning: So you want to settle your IRS debt? This is | | | | first! If the IRS has filed your taxes for you, file an |
| famously known as an "Offer in Compromise." It | | | | amended return. |
| requires you to send an Offer to the IRS, along with | | | | - Tax Lien: Goodbye, credit. A tax lien prevents you |
| your full and complete financial information. It's very | | | | from being able to get a loan or refinance your home. |
| hard to be approved for this program. Plus, you have | | | | Did you enter into a settlement or payment |
| to submit 20% of your offer along with the required | | | | arrangement to settle your debt? The tax lien will still |
| multiple pages of paperwork. The 20% is | | | | remain until the debt is satisfied! |
| nonrefundable. You don't want anything to stop you | | | | - Bankruptcy you cannot file for Bankruptcy at the |
| from getting that offer! | | | | same time you try to make an Offer with the IRS. If |
| Road Blocks: Learn the Roadblocks that would keep | | | | the IRS finds out you have, your offer will be denied. |
| your Offer from being accepted. | | | | |