In order to understand the importance of negotiating with the Internal Revenue Service (IRS) and trying to work out an alternative solution to paying your back tax debt immediately and in full, it is important to understand what the IRS can do if you do nothing.
If you fail to negotiate with the IRS or pay your outstanding back taxes by the date set by the IRS, then you may risk:
- Financial penalties. This could cause you financial hardship and result in a larger payment to the government.
- Tax levies. This may include wage garnishments or the seizure of property.
- Tax liens.
- Other penalties.
These risks are not inevitable. You may have the power to prevent one or more of these things from happening to you, but you will have to speak up. You will have to convince the IRS that an alternative solution complies with the law and makes sense in your case.
How to Resolve Your IRS Back Tax Problems
Generally, there are two important steps that you can take to resolve your outstanding IRS back tax problems and avoid the problems described above. First, you can educate yourself about your rights. We recommend you start today by downloading a FREE copy of our book, The Ultimate Survival Guide for IRS Problems. Second, you can have an Oklahoma tax lawyer represent you. Call us today at 918.877.2794 to learn more.