Why You Must Handle IRS Issues Immediately

Why You Must Handle IRS Issues Immediately

When it comes to collecting money owed from them, the IRS is a bit aggressive at this undertaking. The IRS still wants their money whether the money is truly owed or the debt is simply a result of an IRS mistake. Hence, in situations where the taxpayers did nothing wrong, it is their responsibility to protect themselves from IRS problems. Many taxpayers who file their taxes properly and on schedule are not totally safe from IRS errors and penalties that result from these mistakes.

Getting a Federal Tax lien is one of the most unfortunate IRS-related problems that you will have. With a tax lien enforced on you, your credit records will be severely affected that it's almost impossible for you to get any kind of loan. Aside from not entertaining your loan applications, the banks won't even permit you to open a new bank account. With this, it will be extremely hard for you to settle utility bills such as phone and electricity bills.

For those who think that tax issues and IRS problems will merely work themselves out, they are completely wrong. The only way for an IRS problem to go away is if you pay the money that is owed, or you decide to assert your rights to the IRS. These courses of action, however, will require your money and time.

It is always in your best interest to immediately take action as soon as you get a notification from the IRS. Otherwise, they IRS may enforce rigid collection techniques and charge you with interest rates as high as 25%. You'll continue being subjected to these consequences until the debt is completely paid, or until the charges are dismissed.

You might also want to ascertain that you have all the necessary documents and supporting evidence in order. Not only will this help you effectively deal with the IRS, but this will also project an impression that you're ready for anything that the government will throw at you. In very serious situations, it's best that you contact a tax professional like a tax attorney or a CPA. Their education and background on the field will certainly liberate you from whatever IRS trouble you maybe into.

Aside from the usual penalties that the IRS imposes on delinquent taxpayers, they can also utilize more intrusive collection procedures like wage garnishment. This is referred to as a Wage Levy. You do not want the IRS to take this action because this allows them to get as much as 75% on your paycheck. Can you live with only 25% of your net pay?

The sooner you deal with your IRS problems, the sooner you will be able to negotiate with the IRS and the more difficult it is for them to impose such aggressive and intrusive actions on your finances.

Darrin T. Mish is a Nationally recognized Attorney whose practice focuses on representing clients across the United States with IRS Problems. He is AV rated by Martindale-Hubbel and is a member of the American Society of IRS Problem Solvers and the Tax Freedom Institute. He has been honored by a listing in Martindale-Hubbel's Bar Register of Preeminent Lawyers. His passion is providing IRS help to taxpayers with both individual and payroll tax problems. He teaches attorneys, CPAs and Enrolled Agents in the finer aspects of IRS representation all around the United States. He can be reached at his website at http://www.getIRShelp.com

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