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Get Tax Debt Help Now!
Trust in Our Trucker Tax Service
If you owe the IRS, it's highly likely that you owe other creditors as well. It's sad but true. These things usually come in groups, especially when you're a trucker without much time to handle financial obligations. It's incredibly hard to decide who you should make payment to first, the IRS, or your creditors. It feel like there's no way out, but there is. The answer is truly very simple.
The Truth about Credit Card Debt
Credit Cards do NOT count as a necessary expense as far as the IRS is concerned. So this means the IRS expects you to pay THEM before you pay your creditors.
But What about My Credit Cards? Frankly, the IRS doesn't care. They want their money. We know it's hard to work with the IRS without Tax Debt Help or Professional Tax Assistance. That's why so many ignore their tax debt. But trust us when we say it's incredibly important to pay them before your other creditors.
Collection Agencies Cannot Sue You. If you're in debt, collectors have already threatened you with all forms of legal action, trying to scare you into paying off your debt. Here's the deal on legal action that can be taken against you with collection agencies:
- Collection agencies have to abide by the State laws that you live in. Only 19 States allow legal action, such as home levies or wage garnishment on debtors. That means if you live in one of the other 31 states, all that collectors can do is call and harass you.
- You don't have to worry about repossessions. Collection agencies can only repossess the property that you owe your creditors on. Collection agency repossession agents cannot walk into your home and take whatever they want.
- State's rights. Even in States where collection agencies can garnish your wages or levy your home, they are limited in what they can do. They can only garnish W-2 wages. If you're an independent contractor, or if your income comes from tips, they can't go after your wages.
- Settled in Full. You can actually settle your debt with a collection agency with a single lump sum payment that can be anywhere from 40-80% of the original debt. Most collection agencies have the ability to negotiate a settlement right over the phone.
Now, the IRS and Their Fierce Collections
Your Lifestyle in Jeopardy. Let's start with wage garnishments, home liens, and bank account seizures. The IRS is not bound by individual State laws concerning collection practices. That means regardless of where you live, the IRS can take collection action against you, and they don't even have to take you to court.
Nothing Is Safe. Not only that, they can seize any and all assets to pay off your debt. They have to leave you with items required for basic living, but everything, including your grandmother's jewelry, is fair game.
They Can Take It All. The IRS collection machine can garnish any and all money that you make or have invested in accounts. If you're a contractor, they can demand their due from your clients before you get paid. It doesn't matter what you do; they can seize your money.
Not That Easy. Settling your tax debt for a single lesser sum is almost impossible to do with the IRS. In fact, only 2% of Settlements for "pennies on the dollar" are ever even accepted. Plus, the process is long and difficult.
The Lesser of Two Evils. That's what you will have to deal with when you owe the IRS. The IRS expects their debt to be paid first, and the collection actions they can take against you make regular collection agencies seem almost charitable. Get your priorities straight, then get to work and resolve the issue. |
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