Getting in touch with the IRS before they get in touch with you is the first thing you can do to settle tax debt.
There is hope even though many individuals think it is impossible to get IRS forgiveness of debt.
Events like losing a job, getting rid of debt, or withdrawing money from a retirement account may have a tax repercussion for people who are struggling financially.
If your income dropped, for instance, you might now qualify for certain tax credits, such the Earned Income Tax Credit.
Most crucial, get in touch with the IRS right away if you think you might have difficulties paying your tax payment.
There are frequently actions we may take to lessen the strain. In order to prevent further fines, you should still file a tax return even if you are unable to pay.
