It might be tempting when you find out that you owe a large amount of back taxes to try and avoid paying them. With all the stress that accompanies doing that it won't be worth it. There are other options out there for you to try. We are not talking about bankruptcy or a loan, it is something else.
If you really are in a tight spot and you are struggling with all of your other bills let alone your back taxes, then perhaps you may consider applying for a settlement. You can use an agent or lawyer, or you can complete with process by yourself through the government's instructions. In doing this, you can make them an offer of what you can afford. If the amount that you can afford is nothing, then have enough proof to back it up. Settling sometimes can be a lengthy process, but at the end there is usually a little less debt to worry about.
This settlement procedure is better than having to declare bankruptcy by far as it will not ruin your credit. It will not get rid of all of your debt, but it will considerably help with it. It is also better than a loan because in taking out a loan you will have to pay even more money back. Though it has a slightly bad reputation for various reasons, maybe because of a bad lawyer or insufficient proof, settling your debt with the IRS is possibly the best way to go if you are caught in a trap.
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