Unmanageable tax debt is one of the most common causes of bankruptcy in the United States. Whether it’s a matter of extreme miscommunication, lack of information or just the inability to pay the compounded interest in penalties, many Americans wind up having to start over, if they can, because they are too deep in debt with the government. There may be some good news for those who find themselves in this unenviable position. Rather than letting these financial obligations to the Internal Revenue Service (IRS) send you into bankruptcy, there are a few government-backed solutions that may be able to help you square your tax debt and move on with your life.
One of these is an IRS-backed program called the Fresh Start Initiative. The program is a few years old and gives you several options to make paying your past tax debt easier, including increasing the amount of notification time regarding tax lens, giving debtors monthly payment plan options and even giving them the option to settle their debts for less than they owe.
If you are interested in learning more about how to put the Fresh Start Initiative to work for you, contact an experienced debt lawyer who will guide you through the process of getting back on track financially.
Don’t make the mistake of turning to a third party for-profit debt relief business that promises to make your debt go away with false promises. You will wind up paying a company more than necessary and you may not even get the benefits of the government-backed program. Due diligence is the key here – remember, it’s likely that miscommunication got you where you are today. This time, make sure you ask the right questions and ask them to a legal professional with the wisdom and knowledge to lead you in the right direction.
Consulting a debt management attorney can help you first decide which options you should explore. When you contact skilled debt lawyer Robert Jacovetti, you can rest assured he will put every aspect of the legitimate IRS debt programs to work for you. He will negotiate on your behalf going forward. The longer you put these matters off, the more you will end up having to pay in the end. Don’t let lingering tax debt send you into financial ruin.