If you are procrastinating in dealing with those back taxes, then it might be time to stop, because it will only make your situation worse. You may not know how to deal with them specifically especially if the amount is in the thousands, but it won't get any easier if you avoid them.
The IRS is willing to compromise with families or individuals that owe back taxes but can't afford to pay the whole amount. If you are finding yourself in that same situation then the IRS wants you to apply for a settlement. In most cases, they are more than happy to get just a portion of the money. They have seen more than enough of these cases, and they know that the financial epidemic has hit America. Millions of people can't pay their tax debt and the IRS settling is probably the only way that the government will get some of that revenue. If they have a lot of people filing for bankruptcy, then they won't really gain anything. It is just as well to accept lesser payments.
That goes the same for those who want to claim bankruptcy. This will ruin your credit standing for years to come, so it is much more beneficial to you if you compromise with the IRS and make them an offer. If both of the parties involved are willing to cooperate, then the process will be faster, and you can get on with your life, and they can go on with theirs. It sounds pretty good, doesn't it?
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