How to deal with the IRS when they come knocking.
By Taxation Solutions on 2012-12-28
It is easy to feel helpless when you receive that letter in the mail from the IRS saying that you owe money for back taxes or threaten with a lien placed against your property. But, as a taxpayer remember: you do have rights!
Here are two great tips of what you should do if the IRS says you owe back taxes.
What would be the first thing you would do if you got a letter from the IRS saying you owed let’s say $50,000 in back taxes? The normal and probable answer would be to PANIC! Panicking is a normal response, however panicking leads to rash decision making which is never a good thing. Stay calm and realize this: Just because the IRS says you owe a certain amount doesn't mean you actually do.
Procrastinating is by far the easiest way to have the IRS take your savings, garnish your paycheck or even take your home. The IRS is the biggest collection agency in the country and has far more reach than just posting something to your credit report. If you want ensure that your financial future is in peril, the best way is to do nothing. Now with dealing with the IRS is the last thing that you should ever do! The IRS is not your friend and not there to help you. Their goal is to collect money! When taking action with the IRS, you should get help that you need to make sure your rights are upheld.