Help with Back Taxes
You would be amazed at how many people do not ask for help with back taxes and then end up in very bad situations financially and mentally. Owing back taxes can be one of the most stressful situations to deal with. It’s even worse than moving or getting married as far as stress goes. It’s because we all perceive the government as having all the power and that they will get what they want no matter what. Luckily, that can’t be further from the truth.
The Internal Revenue Service can place a lien, levy, or garnishment on a taxpayer’s home, motor vehicle, wages or other real property that they own in order to procure the payment of a debt that involves back taxes. How does one owe back taxes? The scenarios vary from state to state and with each individual. In today’s tough economy, many people are having trouble paying their taxes to the IRS on time and correctly. People are out of work and do not have a constant stream of income to help with their taxes. It only takes one missed tax payment to accrue back taxes and then everything can begin to spiral downward.
When you owe the IRS it can be a very frightening experience. Just hearing the words IRS and Taxes can stress people out. No one wants to owe back taxes, no one plans on having this kind of debt, but it is a reality for many Americans. Most are frozen and do nothing out of fear and intimidation. That no longer needs to be the case! You do have options. The IRS wants to help taxpayers get caught up and be done with this kind of debt.
Everybody in tax debt will have questions, no matter what they may be. If you are tired of getting the run around you can find all the right answers by hiring a tax lawyer. You will be amazed at how much better you feel about your situation when you have a lawyer on your side that can answer questions and show you the way.
A Lot Of IRS Income Taxes Are Dischargeable:
Next….if your problem is Income Taxes (as opposed to something like Withholding taxes), we first look to see how old it is. Why? Because…if the taxes you owe are more than 3 years old, you may not have to pay them back at all. Let me repeat that. You may not have to pay it back at all. Most people and even some bankruptcy attorneys don’t know this….but the fact is that certain older taxes are “dischargeable”….which means you can get rid of it by filing bankruptcy and not pay it back…ever. There are 4 rules to apply to see if your back income taxes are dischargeable….but fortunate for you…..we know the rules….inside and out. We apply these rules all the time…..and we also know how to get dead-accurate information from the IRS itself to verify what you owe and whether it is dischargeable under these 4 rules.
It is always good to talk to multiple tax professionals before deciding which one you are finally going to go with to help you with your tax problem. Most tax professionals will offer a free consultation in order to understand your problem and to see if they can help. With this free consultation you will be able to receive free advice and get a good understanding of your likely outcomes and what it will cost to hire a professional to help you. Most of the time there different ways of handling tax issues and each tax professional you will talk to will have different ways of handling your tax issue. Listen to all the tax professionals you talk with and then make a decision based on experience, confidence, aggressiveness, and trust.
Last bits of help filing back taxes.
Electronic filing is not available for late taxes. All back tax returns must be filed in paper and mailed to your local Internal Revenue Service office. Can use software for the software must print out the return and you must physically mailed the documents.
Tax returns must be mailed separately by year. And send them certified mail. By doing this you will have proof that you sent the documents and that someone in the IRS has received. By mailing the years in separate envelopes you avoid confusion in processing your tax returns.
Owing the IRS is overwhelming but you should never procrastinate on taking steps to resolve this debt. Remember that the IRS adds penalties and interest to your balance daily! Your debt could triple in a very short time if you do nothing! Contact a tax professional today and avoid severe penalties later!