Work on your back tax, and get help as soon as possible. Never ignore the signs, and donít ever lag on your payment to the IRS, as ultimately, the long term consequences are going to leave you in a very problematic and ugly state of affairs.
The recession continues to impact more and more people and small businesses every day. The number of taxpayers with back tax issues is increasing as well. The IRS has stated that both business and individual tax filings and payments are down because people are just plain struggling to pay their tax bill and cope with their living expenses. They would also want you to know that the worst thing you can to do is to neglect paying taxes, as they just keep adding up. It is best to seek tax resolution to avoid potential issues like the loss of a home, a car and complete sanity.
In these tough financial times, you might even know someone who has not paid their taxes off.† Some go years without paying; however with the rate of technology increasing steadily, the IRS will find them eventually.† Running a credit check anyone?† No one wants to be hunted by Uncle Sam.† Even though the economy might be the cause, it is still advisable to seek tax resolution and contact the IRS before they contact you. This will make things a lot easier in the long run. In some circumstances, it is possible to apply for a penalty abatement, in which case all of your late penalties will be eliminated.† See, the IRS can be generous sometimes too.
If you are able to apply for penalty abatement, you, or your tax resolution attorney, have got to prove that you have legitimate cause for not paying your taxes in the first place. Issues like death, illness, receiving false tax information, or anything that else that has been a financial detriment for you will qualify. If you do not pay your taxes, get ready for a decrease in work payment, social security or even pension.† The IRS does happen to be one of the more generous lenders out there, just get in touch with them or hire an attorney who will advise you on what steps to take for the most effective tax resolution.† As a taxpayer, you may think that giving your money to the IRS instead of not paying off your credit card debt or a personal loan is unreasonable, but the IRS doesn't see it that way, and they never will. These are all good reasons to make sure you always file your taxes and paying them off as soon as possible!† You wouldnít want the IRSís big finger pointed at you at the worst possible instance in your life.