The IRS imposes huge tax interest and penalties on your tax debt. You must work out to resolve the debts before it is too late.
Here are a few signs to prove that you have reached a point where you need a professional help to resolve your tax debt.
1. Accumulated multiple IRS notices in your mail
If you have received multiple IRS tax debt notices by mail, probabilities are it is time to reach out for professional tax debt help to stop such mails and avoid IRS tax levy.
2. Your tax debt is much more than you can afford
If you can afford to pay your tax debts, it is best to make the tax payment at the earliest to avoid further penalties and interest. Sometimes your total tax debts may be much more than your bank balance. In such cases it is best to consult a tax expert to help you resolve your tax issues through IRS tax debt relief plans like IRS currently not collectible status.
3. Your passport is Revoked or denied
Having overdue tax debts can result in revoking, limiting or even denial of your passport. You must look for a professional help to resolve tax debt issues to restore your passport.
4. IRS has sent private debt collectors
After email notices, the IRS can also send private tax debt collectors. Persistently, such agents will send a series of phone calls and messages to remind you about your overdue tax debts. Now, it is time to seek tax professionals’ help for resolving your debts before IRS agents seizes your property.
5. You lose your tax refunds or property
The IRS can take your tax refund, seize your property, and garnish your wages to satisfy your outstanding tax debts. Hence, it is best to consult a tax professional to help you settle your tax debts as soon as you receive IRS final notice of intent to levy.