If you received a letter from the IRS telling you that you owe them money, this letter will be the first of many attempts from the IRS to collect the debt you owe. You should not ignore the letter hoping it goes away because it will not go away. The IRS will begin using other methods to collect the money you owe. Therefore, you should act right away to find a way to settle the debt. Here are several things you should know if you are facing this issue.
The IRS Does Not Ignore Debts
When people owe money to the IRS, they do not ignore these debts. The IRS can become aggressive with their collection efforts, even though they start with a basic letter. If you do not respond to the message, they may issue a levy to garnish your wages. They will also take any tax returns you may be entitled to in the future. They can even place liens on your property. Do you want to avoid these problems? If so, you should contact a tax problems lawyer as soon as you receive the first letter from the IRS.
Find Out Your Options
When you contact a tax problems lawyer, you should explain the situation. The lawyer's job is to evaluate the situation to determine if you owe the money. If there is a mistake, the lawyer will find it and will contact the IRS for you to settle the matter. If the error means that you do not owe money, the lawyer will handle the issue accordingly and will ask the IRS for a letter that states that you do not owe money for back taxes.
If your lawyer discovers that there is no mistake and that you owe them money, he or she will help you learn your options. You can settle a tax matter like this in several ways. The first way is by paying the balance in full. If you have enough money to pay for the balance you owe, you should pay for it. Your lawyer might suggest using an offer in compromise (OIC) If you do not have the money to pay for it. An OIC is a settlement plan that allows you to pay a fraction of what you owe to settle the entire debt.
Your lawyer might have some other ideas, too. If you owe money to the IRS, seek help now. Waiting may only worsen the situation for you, so call a tax problems lawyer today.