Tax debt can be a scary thing. It can’t be discharged with bankruptcy, and it can be attached to some very serious – very real – punishments. You want to make sure you avoid tax debt, right? Doing so might be easier than you think.
Avoiding tax debt is easiest when you start taking steps now to ensure it won’t happen to you. The IRS has recently implemented a host of new policies, as well as updated a few classics, to help make the tax debt burden easier on you. If you’re really struggling, it’s almost certain that the IRS has at least one tax debt option that you could take advantage of.
The IRS is (in ways) like any other collection agency. They know that not everyone can pay in full and on time; and, they know that it’s better to get something instead of nothing. So, they’ve set up a few programs to help you through it. Check out the official IRS website that explains some of the major tax adjustments that might affect you.
When it comes down to it though, you can avoid ever having to go through debt negotiation with the IRS if you just keep track of what you owe, and make sure that you have the money available when collection time comes. Easier said than done, we know. However, do whatever it takes to stay on top of paying your taxes! You don’t want to get upside down with the IRS.