Ignoring the IRS might just be the most damaging decision you ever make with wide reaching consequences for not only you but your family too!
In this article we’ll look at why you might be ignoring the IRS, how the IRS react to being ignored and most importantly what you should be doing about your tax debt!
The IRS is not going to go away – no matter how much you want them too!
We are hardwired to avoid danger. Owing the IRS money is a high-stress situation and every evolutionary instinct will be telling you to avoid the problem. You may be overwhelmed by the size of debt, you may see no way out of the problem but you need to realize –
- The IRS have practically limitless resources, they will catch up with you.
- The IRS will follow up, it may not come straight away but don’t let that fool you – its coming.
- The longer you ignore the IRS the more it’s going to cost you
Hiding from the problem guarantees the worst possible outcome
From the first moment the IRS notifies you that you owe them money the clock is ticking on your case – what you choose to do now will have serious implications on the level of your debt. Here’s an outline of the steps the IRS Los Angeles takes when they are ignored.
- The IRS will most likely overestimate the calculations on your debt – it’s not in their interest to be underpaid, so any possible deductions will not be taken into account, basically this is the worst possible way for your debt to be calculated and guaranteed to see you owing the absolute maximum amount.
- Eventually you’re going to get a knock at your door from a tax revenue officer if you continue to refuse to contact the IRS. At this point the IRS is going to be looking at some fairly draconian measures for collecting their debt. The tax revenue officer will want to assess your financial situation and how quickly they can collect their debt.
- Continuing to ignore the IRS can also lead to criminal charges for tax evasion. Once you allow your situation to cross over from an IRS investigation to a criminal investigation the stakes increase dramatically and the consequences far more severe – if you try and evade the IRS for too long it can and will end up with an arrest.
Penalties and seizures – a devastating resolution
During the IRS’s attempts to contact you, your financial burden to them is increasing exponentially. IRS penalties are severe and the longer they are left unchecked they can snowball to a devastating level. From the IRS’s own guidance some of the penalties on late taxes are –
- Interest is compounded daily and accumulates on the owed amount (the interest rate is equal to the Federal short-term rate, plus 3%)
- The late payment penalty is .05% of the owed amount and increases each month the taxes remain unpaid (up to a maximum of 25%)
- The combined penalty for both filing and paying late is 5% of the tax owed (if your return is over 60 days late, the penalty may be up to 100% of the tax owed)
That should make for some alarming reading; you could very easily find yourself in a situation where you owe 100% of your debt in penalties alone, a completely devastating and unmanageable situation.
With heavy penalties and financial ruin on the horizon, the IRS will not slow down. Wage garnishments that can leave you destitute and asset seizures are all within the IRS’s powers. The emotional toll on you and your family can’t be understated. This process devastates families and pushes so many Americans to breaking point.
You’re not alone – Defense Tax Group offers a brighter future
Don’t live in denial and don’t let your inaction compound your problems! With Defense Tax Group you will have experienced advocates who will fight for your best interests.
Defense Tax Group can
- Massively reduce the amount owed to the IRS with a successful offer in compromise
- Remove interest charges & penalties
- Stop wage garnishments
- Remove IRS tax liens
- Stop property seizures
- Stop bank levies
Our team of in-house tax relief help attorneys and in-house CPA come with a wealth of knowledge and experience in facing the IRS and securing favorable resolutions for our clients – in the last 5 years we’ve successfully represented 5,000 clients, saving them over $250 million.
Don’t ignore the IRS, don’t risk destroying your life – instead face them with the backing of Defense Tax Group and secure yourself a brighter future! Call 866-657-1040 or visit http://defensetax.com/ today.