How does the IRS expect you to pay off your taxes if they keep adding penalties?
I don’t know what the IRS thinks, but I do know that they ruin people’s lives every day with these ridiculous penalties.
IRS penalties are supposed to deter people from messing up their tax obligations. Instead, they bury you so far that it seems impossible to dig your way out.
What Do They Expect You to Do With Federal Tax Liens on Your Credit Report?
How can you possibly get a loan to pay them off, when your banker won’t even talk to you?
Federal tax liens prevent you from being able to borrow any money for a car or home. You can’t even borrow money to pay the IRS!
Taxpayers with IRS Problems often have to shop at Buy Here, Pay Here car lots because these car dealers don’t care if you have a Federal Tax Lien. This is because they charge so much for the cars and usually have very high interest rates. Cars are expensive enough without having to pay 18% to 21% interest on a used car loan, but with a Federal Tax Lien, you don’t have a choice.
The banks have become tough on opening new bank accounts. Anyone with a Federal Tax Lien is usually prevented from even having a checking or savings account. This makes it hard to cash paychecks and hard to pay their monthly bills.
Lacking a bank account often means troubled taxpayers have to pay more and use money orders or certified checks just to pay their rent or utility bills.
The IRS can ruin people’s lives and the time to act is now. Consult an experienced Enrolled Agent for assistance with working out a plan to avoid/work on resolving the IRS penalties you’re dealt with.
You might also be interested in:
Stephen Wallick started Stephen Wallick & Associates to provide tax and accounting services to Contractors, Real Estate Investors, and Realtors. Steve specializes in IRS Tax Resolution services and works with his clients to resolve cases under scrutiny by the IRS. As a tax professional and enrolled agent, Steve can save you money with IRS loopholes each year. With over 20 years going up against “The Man”, Steve is uniquely qualified to resolve even the toughest IRS cases.