If you haven't been filing your taxes recently, then you might find out in the near future just how much debt that you have accrued with the IRS. Even if you have been filing, but haven't been filling out the forms correctly, then there is a chance that the IRS is looking for you. On top of this, if they are tacking on the penalties, it could really damage you financially. When you get those papers stating an upcoming audit and find out that you can't pay what you owe, you might start to panic. Well, that isn't necessary.
There is the option of applying for a settlement with the IRS. If you can prove that you are experiencing troubled financial times, then that is a good start. You have to fill out the forms accurately with all of the documents to back up your claim.
This might seem complicated, and if you are nervous about making mistakes with the application, you can visit some agencies or a lawyer for a helping hand. There are experienced agents everywhere that can get a good settlement for you. You debt might be partially forgiven or even eliminated altogether, and even if you end up paying a good part of the debt back, then it is still better than the whole amount. The point is not to wipe all of the debt from your name, but to give you the assistance needed. The more you can prove that you need it, the more that will be forgiven.
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