Question: I’ve been getting letters from the IRS saying I owe back taxes. This is taking over my life and I can’t sleep. What should I do?
Answer: Owing money to the IRS or State can be intimidating and throw your life out of whack, but ignoring your back taxes will only make things worse. It’s important to take immediate action. The IRS has over 148 types of penalties they can assess, and the worst part is they can also charge interest on the original penalties. Penalties can be a high percentage of the total amount owed to the IRS.
The IRS has 10 years to collect from the date you filed your return and they won’t go away. Not only can they freeze your bank account and take the money, but they can garnish your wages and legally take as much as 75% of your net paycheck, without a court order!
You need a professional expert to help you deal with the IRS. You can’t do this on your own. As a matter of fact, going or talking to the IRS without expert representation could be the worst thing you can do. The taxpayer Bill of Rights allows you to be represented by a qualified practitioner who can negotiate a resolution to the IRS in your best interest.