Lets talk about your IRS Debt.
The amount of you owe to the IRS (your IRS Debt) is an aggregate assessment of liability the Federal Government claims you owe them for all annual periods. Based on the total amount of liability assessed, the IRS can attempt to collect the money they claim you owe, known as IRS debt, for a particular year or for all years’ as a whole debt. IRS debt typically takes priority over any debt that is owed to the State. Since the State seems to be keenly aware of this, they often try to collect on any debt matter as quickly and aggressively as legally possible because once the action is taken by the IRS, the Federal Government’s collectible debt action supersedes the action that can be taken by the State. The IRS is simply better funded and resourced to collect on debt than any individual State.
Does it matter how you obtained this debt that the IRS assessed? In most cases, yes. The IRS is
mainly interested in collecting money, even if that means they can collect upon a debt that is old. Depending on whether or not you have previous tax filings that had issues such as non-filing or misfiling, the IRS may be willing to settle a portion of your debt. How much debt the IRS decides to settle is on a case-by-case basis, and there are may particulars involved, but it is always an avenue worth exploring. Most tax Professionals would advise you look at all your options when it comes to settling for your debt; but whether you have the ability to settle your debt or not, it would be worth exploring the interest level of the IRS to agree to forgive some of your debt. Contact Alexander Tax Defense Today to schedule your consultation 833.829.8299
Lets talk about your IRS Debt.
The amount of you owe to the IRS (your IRS Debt) is an aggregate assessment of liability the Federal Government claims you owe them for all annual periods. Based on the total amount of liability assessed, the IRS can attempt to collect the money they claim you owe, known as IRS debt, for a particular year or for all years’ as a whole debt. IRS debt typically takes priority over any debt that is owed to the State. Since the State seems to be keenly aware of this, they often try to collect on any debt matter as quickly and aggressively as legally possible because once the action is taken by the IRS, the Federal Government’s collectible debt action supersedes the action that can be taken by the State. The IRS is simply better funded and resourced to collect on debt than any individual State.
Does it matter how you obtained this debt that the IRS assessed? In most cases, yes. The IRS is
mainly interested in collecting money, even if that means they can collect upon a debt that is old. Depending on whether or not you have previous tax filings that had issues such as non-filing or misfiling, the IRS may be willing to settle a portion of your debt. How much debt the IRS decides to settle is on a case-by-case basis, and there are may particulars involved, but it is always an avenue worth exploring. Most tax Professionals would advise you look at all your options when it comes to settling for your debt; but whether you have the ability to settle your debt or not, it would be worth exploring the interest level of the IRS to agree to forgive some of your debt. Contact Alexander Tax Defense Today to schedule your consultation 833.829.8299
Originally posted 2018-06-19 23:22:00.
