What is going to happen if you don’t pay IRS Tax debt?

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<h1>What is going to happen if you don’t pay IRS Tax debt? </h1><strong> Author: <a href='http://www.articleseen.com/profile_Daniel King.aspx'>Daniel King</a></strong><br /><p>There are many reasons why people end up owing money to the IRS, weather they had an emergency and couldn’t pay their taxes or miscalculated how much they owe. But once IRS contacts you notifying of your debt, there is only one solution. Tackle these IRS problems head before they snowball into even a bigger problem. IRS implements several methods to recover the money they are owed. Initially they send out a letter informing taxpayers of their debt. If this letter is ignored, IRS sends two more letters demanding payments. When the third letter is ignored, IRS will start collecting what is owed. IRS will freeze bank accounts through bank levy. You might not even know that your account is blocked until you try to make a purchase and your card gets declined. This means that if you decide to put gas in your car, your debit card will not be accepted and you will not be able to perform any financial transactions. Another way IRS can recover what is owed to them is through wage garnishment. IRS has authority to take as much as 80% out of your paychecks. These IRS problems can be devastating for those who live from paycheck to paycheck. IRS can also place a lien on your home which will affect you in the long run. This will mean that IRS will own the title to the home and you will be denied from selling, leasing, and performing home improvements or getting a loan against house equity. If the debts are not paid over time, IRS can auction your home for the debt repayment. It is very important to pay your IRS taxes on time. If you haven’t paid your taxes and received a notice from the IRS, act immediately and contact a tax professional to efficiently deal with IRS problems before they directly affect your livelihood. There are many ways to deal with IRS problems and many tax resolution agencies that can help. Most of them offer free consultation, where they can asses each situation and advice on best course of action. It is best to contact them right away to deal with IRS problems and negotiate with the IRS so that they do not take any action against you. </p><strong>About the Author:</strong><br />US Tax Shield specializes in assisting people with tax problems and negotiating with the IRS on your behalf. US Tax Shield employs experienced and knowledgeable tax attorneys who can assess your situation and counsel you about your options. US Tax Shield offers a free consultation and can help you find a solution to your tax problems. Contact US Tax Shield at 877 829-3535 or online athttp://www.ustaxshield.com. <p> Article Source: <a href='http://www.articleseen.com/Article_What-is-going-to-happen-if-you-don’t-pay-IRS-Tax-debt_96541.aspx'> http://www.articleseen.com/Article_What is going to happen if you don’t pay IRS Tax debt? _96541.aspx</a></p>

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Keywords : IRS problems ,

Category : Finance : Taxes