Tag Archives: TaxDebt

Can I Settle My IRS Debt this Tax Season?

Has tax debt been building up for you? You may find yourself in the same position as thousands of Americans every tax season. Tax debt can build up quickly and paying it off can seem like a daunting task. Taxes are complicated, and paying off your tax debt the right way is crucial to your finances. The IRS is the federal government, and has smart and intrinsic ways to collect tax debt, so avoiding paying your taxes is a bad idea. However, the IRS can be patient, as long as it believes that your tax debt will be paid off one day. The longer you wait, the more debt you will accrue. The IRS accepts monthly installment plans of up to 72 months to repay debt, and the longer it takes for you to pay the more interest and penalties you will have to pay to the IRS.  Keep reading…
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