Managing finances is harder today than it has been in a long time. Between bills, student loans, and credit card debt, it can be hard to cover everything and still have enough to live on. One aspect that can be incredibly easy to overlook is our taxes.
Taxes have been a part of the American way of life even before this country was officially established. The only difference is before 1776, our money went to the United Kingdom. After that, federal income taxes slowly worked their way into our lives, because it turns out you need money to run a country. This became official in 1861, when the Revenue Act was passed. 43 states followed suit and imposed their own income taxes as well. Granted, all governments in this country provide tax exemption in one way or another on certain income property, and people. If this applies to you, then congratulations. For everyone else, not paying what you fully owe can get you in a mess of trouble.
One way the government goes about settling outstanding tax debt is through liens or levies. This involves them seizing your property, and even money from your paycheck. This can obviously lead to larger problems in your life, but before you give up all hope, keep in mind that the fifth amendment requires that they go through due process of the law before enacting any of this. This includes giving you ample notice of what they intend to do, so you have time to seek other means of repaying what you owe.
The smart thing to do in this kind of situation is to get federal tax help. There are plenty of IRS tax resolution services that work with you to figure out the best possible solution. They start by investigating your specific scenario, then interface with the IRS on your behalf, and finally present you with all available courses of action, including what they feel is your best bet. Most of the time, you will be able to work out a reasonable way to repay your debt without breaking the bank or inconveniencing you too much.
Tax debt is no fun. However, when you find yourself in this situation, the worst thing you can do is ignore it. Get the federal tax help you need and find a solution that works for you.