Owing taxes of any kind is a stressful situation. As citizens we have to worry about tax debt owed to the IRS, our state and city. These payments can get out of control quickly when someone experiences a financial hardship. While most city and state taxes are difficult to find payment assistance for, North Carolina has decided to follow suit with the IRS and offer citizens a program for repaying their debts.
A Helping Hand
The North Carolina Department of Revenue recently announced the launch of a new program aimed at helping people get caught up on unpaid taxes. The Individual Income Tax Debt Repayment Program was developed to help the financially insolvent resolve their debts and find relief from tax penalties.
Offered through the end of April 30, 2012, the program may allow for the waiver of certain penalty fees and halt collection efforts on those experiencing garnishments and tax liens. Further, the program will offer tax debt payment plans for those who have accumulated debts resulting from economic or unforeseen circumstances. North Carolina Governor Bev Perdue says, “This is exactly the type of program we need to help our fellow North Carolinians down the path to economic recovery. We are making it easier for our citizens to work with state government.”