Your State Tax Debt May Be More Concerning Than Federal
Updated: Nov 3, 2021
Have you ever received a notice from your state about an unpaid state tax debt? If not, then you can breathe a sigh of relief. But if you have, then it may be just as or even more concerning than federal back taxes. In fact, having collective debt from both state and federal is an issue that no taxpayer can withstand. High tax debt with no way to pay the IRS and state off is the perfect recipe for financial disaster. Despite that, there's still no reason to lose hope. The IRS Fresh Start Program might be right up your alley.
State Tax Debt
Just like IRS tax debt, you may come to realize that state taxes are no joke to begin with. Unlike the IRS' 10 year Statute of Limitations, each state has its own implementation of Statute of Limitations which can range from a couple of years all the way up to 20 years. This means you may have to owe the state more taxes than the IRS if you've been collecting interest and penalties.
A Fresh Start
As aforementioned, there are tax relief programs in which may help reduce or even eliminate your tax debt, both IRS and state. Fortunately for us, we're way too familiar with these overly burdening issues. For many taxpayers, there's a relief program that consolidates many major relief programs into a one-size-fits-all assistance program; The IRS Fresh Start Program. Our clients are referred to our Fresh Start Program in order to avoid bankruptcy, acquire debt relief, and settle their debts in a quick manner. Let us give you a helping hand today!
See if you qualify for the Fresh Start Program today! Resolve your tax debt before the IRS surprises you with late fees and penalties!
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