Let’s face it. When you owe the IRS and can’t pay, it’s tempting to ignore the issue. Usually, this boils down to fear of the unknown.
If you contact the IRS, will it get you in even more trouble?
The reality is, you should only be afraid if you ignore the issue. If you ignore the tax bill you owe, the IRS can eventually force you to pay using several tools – like federal tax liens, levies, and wage garnishments. And that’s on top of penalties and interest that will pile up.
The good news: The IRS offers options when you can’t pay the taxes you owe – from simple extensions of time to monthly payment plans – and even programs for people in financial hardship situations.
But if you’re still weighing whether to get in touch with the IRS – here are the Top 10 consequences of ignoring your tax bill.
Get some help from the experts
Learn what to do when you can’t pay your taxes – to avoid these 10 consequences.
Or, our tax professionals can help you investigate which payment option or other alternative is best for you and request it from the IRS.
KEITH'S STEPS TO SOLVE BACK TAXES