7 Dangerous Signs You Need Tax Relief Help
Most people don’t seek tax relief help until after they have racked up thousands of dollars in tax debt, have begun receiving frightening notices from the IRS, or are facing the harsh consequences of the IRS’s aggressive collections methods.
If you owe a significant amount of back taxes, you need to do something about it.
- The good news is: it’s never too late to seek the expertise of a qualified tax professional who could potentially help you turn things around.
- But the bad news is: the longer you wait to take action, the worse your situation will become, and the harder it will be to obtain a resolution in your favor.
Not everyone realizes how bad their tax debt really is until after the IRS has taken steps to collect their money. Don’t let your situation get any worse than it already is. Here are 7 dangerous signs you should seek tax relief help right away.
When To Seek Tax Relief Help
1) You haven’t paid your taxes in years.
You probably already know how quickly a tax debt can spiral out of control. Whether you run a business, earn some extra income on the side, or just came into some money, you were probably stuck unexpectedly with a large tax bill you weren’t able to pay. Over time, that debt only grows larger as it sits unpaid, due to compounding interest and penalty fees from the IRS.
If the IRS hasn’t begun their collections methods yet, then consider yourself lucky. It’s only a matter of time. But be proactive about your situation by immediately speaking to a tax professional who can go over your tax relief help options.
2) You’ve received a threatening notice from the IRS.
Don’t wait until after the IRS is already collecting money directly out of your bank account. If the IRS is sending you threatening letters about their plans for collections actions, then now is the time to talk to an experienced tax professional.
3) The IRS is taking money out of your paycheck.
Wage garnishment is one of the most common methods that the IRS uses to collect unpaid taxes. They contact your employer directly and can legally deduct up to 80% of your paycheck before you even touch it.
4) Money is being taken out of your bank account.
By law, the IRS has a right to place a levy on any of your financial accounts if you haven’t paid your tax debt. That means they can collect funds directly from your checking, savings and other accounts, making it even harder for you to live.
5) A lien has been placed on your home.
A federal tax lien makes it almost impossible for you to obtain credit of any kind or sell your home – even if you had hoped to use the money to pay down your tax debt.
6) You haven’t paid your business’s payroll taxes.
Failure to pay the payroll taxes that you collect from your employees is a serious offense that could have consequences on you, your business and your assets. Tax relief help from a qualified payroll tax lawyer is strongly advised.
7) You’re broke, scared and don’t know what to do.
If you can’t pay your tax debt, you have options! Don’t let the government push you into further financial ruin. By taking the right steps, you could make your tax situation more manageable and finally get back on your feet.
Get Professional Tax Relief Help Today
Get a free 15-minute tax consultation with the experts at US Tax Shield by calling 877-829-3535 or filling out the form on this page.
Rated A+ by the Better Business Bureau, US Tax Shield is comprised of seasoned attorneys and enrolled agents who have the tax resolution experience and knowledge to help solve your IRS and state tax liability problems.