Your Options When Dealing With IRS Tax Problems
Posted on: 28 April 2020
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You can experience problems with the IRS if you do not file your taxes or if you do not pay your taxes. You can also encounter problems if you lie on your tax forms and for many other reasons. If you have a tax problem right now, it is likely for one of these reasons. If you are not sure what to do about it, there are three main options to use for dealing with the tax issue.
You Can Ignore It
The first option you have is to ignore the problem. Some people ignore most problems they encounter in life. By ignoring it, the problem might go away, or it might not. Chances are that the tax problem you face will not go away on its own. Instead, the problem will only get worse. While you have the option of ignoring this issue, this is probably not the best solution. You could ask a tax problems lawyer if you would like to know more about what happens when you ignore tax issues.
You Could Aim to Settle It or Repay It
The second choice you have is to settle the debt or repay it. If you have a problem with the IRS, it is most likely related to money you owe for your taxes. The IRS can take a lot of measures to collect the debt you owe. For example, they can garnish your wages if they want. By doing this, you do not have a choice in whether you repay the cash you owe.
You should talk to a lawyer about paying the debt or settling it, as this is one of the best options. If you can work out a repayment plan or debt-settlement plan, the IRS will leave you alone if you make the payments you agreed to make.
You Could Use Bankruptcy
The other choice you have is to file for bankruptcy. There is a chance that a Chapter 7 case may wipe out the debt you owe, but you would have to ask a lawyer to find out for sure. Chapter 13 provides you with time to repay the debt without the IRS harassing you, so this is a good option to consider.
These are the three main choices you have, and you should evaluate each of them. To get expert help for this problem, call a tax attorney who offers services related to IRS tax problems.