Tax Debt Statistics That You Don't Want To Be Apart Of
Updated: Nov 3
Most people are aware that the IRS is not a fan of taxpayer delinquency. In fact, they will go to great lengths to collect back taxes, including sending agents out to knock on your door or garnishing your wages and bank accounts. In a sense, the IRS is attempting to do you a favor in order for you to not fall into some scary statistics that you do not want to be a part of that follow when you have missing payments towards the IRS.
How Many Dollars
According to the IRS, American taxpayers have an accumulated $131 billion worth of unpaid back taxes, penalties, and interest in 2018 alone. There is a good chance that if you're the one reading this, you are 1 of the 140 million American taxpayers who owe a portion of that $131 billion. If you get behind on your taxes for reasons other than financial hardship, you have to get your act straight. The cost of inaction is too great; the IRS will come after you and will not stop unless you bite back or pay up. The actions that the IRS will take are a lot worse than it sounds. Their power to levy your property, garnish your wages, all slapping on interest on top of your balance are devastating to the average taxpayer.
Erase The Statistic
Unfortunately, the IRS does not discriminate when it comes to taxes, and that includes financial stability. Paying off tax debt seems like an impossible feat if the tax debt cannot be afforded. Luckily there is a way out that many Americans fail to acknowledge. 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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