Back Taxes are More Serious than You Think, and More Manageable than You Thought
If you owe back taxes, it might take years for the IRS to come after you. But they probably will come after you eventually, especially if you owe a lot or have property, a business, or other assets.
If you’ve received a letter that mentions a Notice of Federal Lien, you need to settle your back taxes immediately. If you’re contacted by an IRS agent from the Criminal Investigation Division (CID), the matter is serious and you need to work with a tax attorney to avoid jail time.
If you don’t deal with your back taxes, the IRS can seize your property, take money out of your bank accounts, and even go after your 401-k.
You’re dealing with the world’s most powerful collection agency, and they’ll show no mercy when they collect on your back taxes. They can take money from the accounts receivable in your business, garnish your wages, collect your Social Security benefits and take any insurance claims paid out.
In some cases they can force you to sell your property or assets to pay off the back taxes. In other situations, they can make it virtually impossible for you to sell.
If the IRS has contacted you about your back taxes, you need to take action right away. If you haven’t paid your back taxes, or worse yet, if you haven’t filed a tax return, your back taxes could come back to haunt you at any time. Even years later.
Back Taxes Don’t Go Away Until You Make Them Go
If your back taxes are considerable, and if you have valuable assets, chances are the IRS computers will pick this up and you’ll be targeted for collections.
I’m going to share with you some of the secrets I’ve been using for 11 years to help people settle their back taxes. But first let’s look at some of the myths about back taxes.
If you owe back taxes but the IRS hasn’t pursued the matter yet, you might be crossing your fingers, hoping they’ll never get around to your case.
This do-nothing, head-in-the-sand approach could get you in even more trouble.
The IRS is becoming increasingly sophisticated in catching people who don’t pay their taxes. In 2004 they got a 12% increase in their budget (the agency typically gets 2% a year), started the hiring of 5,000 new employees, and audited over 1,000,000 taxpayers–that’s one MILLION.
If you haven’t paid your back taxes, there’s a good chance the IRS will find out sooner or later. If you haven’t filed all your tax returns, you could face criminal charges. Criminal tax cases have grown by 11% to as much as 100% per year since 2001.
If you weren’t aware of your back taxes, and now you’ve been contacted by the IRS, you need to take action right away. If you put it off, your tax bill will grow . Interest and penalties are added to your back taxes.
In this situation, you need to contact a tax professional. If you call 1-800-509-2770 I can help you negotiate with the IRS to settle your back taxes so you can get on with your life.
Don’t Run Away From Your Back Taxes Out of Fear
Some people are so afraid of the consequences of their back taxes that they don’t do anything.
If you let fear determine your actions, your tax problems will usually just get worse.
The IRS wants you to act like a scared rabbit and pay up. If you have the means, paying off your back taxes right away might be the best thing to do. However, it’s possible that the IRS is claiming more back taxes than you really owe. If this is the case, your fear might work against you and keep you from standing up for your rights.
Some people simply act like animals blinded by the headlights of an oncoming truck. This inaction is the worst possible way to handle your back taxes or other tax problems.
If the IRS contacts you and you don’t give some kind of response, they’re more likely to proceed with harsher methods. The IRS could seize your bank accounts and property, and garnish your wages and income. Here are some of the consequences you would face:
- Your credit will suffer, making it tough to get a mortgage or refinance your home
- If the IRS issues a lien, you may not be able to sell your property
- Your checks will bounce
- You may be unable to pay the bills and cover your basic living expenses
As long as you delay, the interest payments add to your total tax debt, and you end up owing more money to the IRS on top of your original back taxes.
Secrets of Resolving Your Back Taxes
If you’re confused about your back taxes, or just plain frightened, or if you’re already in trouble with the IRS, you need the help of a tax professional. You don’t need this terrible weight dragging you down.
It’s easier than you think to settle your back taxes. We can negotiate with the IRS to place an Offer-in-Compromise. There may be deductions you didn’t claim the first time around, or the IRS might have made their own miscalculations of how much back tax you owe.
We might be able to legally extend the process, giving you time to work out the right solution. In most cases, we can work out a plan for you to pay off your back taxes in monthly installments, sometimes without interest.
I have an 11-year record of helping hundreds of taxpayers take care of their back taxes. Here are some of the things I might be able to do for you:
Options to Settle Back Taxes
- Negotiate extra time so you can get your finances in order
- Reduce the amount the IRS claims you owe in back taxes
- Work out an installment plan so you can pay your back taxes a little bit every month until they’re gone
- Put forth an Offer-In-Compromise that will settle your back taxes for a pittance–sometimes less that half of what the IRS wants to take
Call me at 1-800-509-2770 and we’ll work out an arrangement for your back taxes that you can live with.
Back Taxes Clear Your Record and Your Reputation
When the IRS comes after you for back taxes, it sends a message to the world that you’re a criminal. It implies that you don’t have control over your finances and your life.
Nothing slows you down like fear. If you owe the IRS back taxes, you’re probably going to face this fear every time you start to make money, acquire property, or open up a new business.
Any money you save or invest won’t be safe. The IRS can garnish your wages or other earnings to pay off the back taxes you owe. If you don’t deal with your back taxes, they may even put a lien on your property and take it away from you or force you to sell it.
Unconsciously, you’ll be asking yourself, ‘Why bother saving, why bother building a nest egg or a business, when the IRS can take it all away?’
This psychological warfare is one of the intimidation tools the IRS uses to collect back taxes. It’s not fair, and it’s still not the worst they can do. But fortunately it’s manageable.
I’ve helped hundreds of hard-working Americans clear their back taxes, usually for less than the IRS said they owed.
But there’s more than just money involved. I’ve received dozens of thank-you letters from my clients, and I’m always struck by how many of them talk about the emotional stress of tax problems.
When you’ve settled your back taxes, you’re free from all that extra tension and concern. You don’t have to worry anymore about liens and levies. You can see what living is like again. The future seems ripe with opportunity. Whatever you have, whatever you earn, is yours.
But you need to act now. The longer you wait, the worse it becomes, as penalties and interest start to build up. Call our tax law office at 1-800-509-2770 and you can probably settle your back taxes faster and more easily than you may think.