The government isn't your average debt collector. Indeed, they have many means of obtaining tax debts that consumers might not view as incredibly friendly. To keep the IRS off of one's case, however, is going to take some tax knowledge. Luckily, such tax knowledge can be easily found for those who seek it.
There is usually a simple way to figure out if a consumer needs help or not with their tax burdens. If the consumer has manged to amass over $10,000 in tax debts, they should probably look into getting professional help. If the debts are in excess of $25,000, then there should be no doubt about the need they have for getting professional help for their specific situation.
Interestingly enough, the government can often be just like your average lender. They have what is called an installment agreement, in which case the consumer agrees to make payments each month on a certain debt just like a credit company would require. Installment agreements vary based on the deal struck with the IRS, but generally paying them off sooner will be better than later.
What most consumers don't try is haggilng. Since the age of time, haggling and bartering have been successful in making both sides more happy with their deal. For instance a consumer might agree to pay a higher down payment if the IRS agrees to lessen up the monthly payment required each month.
If the consumer is looking to get the IRS from calling them and annoying them each and every day, the consumer should look towards the "not currently collectible" agreement. This agreement forbids the IRS to contact the consumer for a specified amount of time, usually a year, but only select individuals may apply.
Lastly there is bankruptcy, although it is a decision that isn't going to come as easy. All debts can be settled by filing for bankruptcy, but keep in mind that bankruptcy will ruin one's credit rating for a good decade. If one is interested in this option, they should make sure that there is no possible way their income can't supplement their debts.
Final Thoughts
Taxes are something that everyone has to pay, and not everyone can keep up with them. If that's the case, one should conference with tax specialists or confront the IRS themselves for more information on getting out of debt in a reasonable amount of time.
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