Sep
17

IRS Tax Debt – The Top 5 Tax Mistakes – Get the Facts and Stay Out of IRS Debt

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What NOT to do: People learn form their mistakes. Maybe you decided not the pay your taxes. Found out the hard way that it’s not a good idea, didn’t you? But if you’re lucky and you’ve managed to avoid IRS debt this long, it helps to know the top five mistakes you can make that will get you in debt.

Ignoring IRS letters:

This makes my blood boil. A letter like, “Final Notice and Intent to Levy” received certified mail looks pretty darn important. So why would you cast it aside? Most people think IRS Debt is out of sight, out of mind. No such luck. Ignoring your debt will make it grow. Plus, ignoring your debt will force the IRS to use their forcible collection methods against you.

Not Filing:

Can’t pay your taxes? Then it’s a good idea not to file you Tax Returns, right? The IRS will never find you. Think again! Failing to file is actually a criminal offense. Not paying on time and not filing are two separate IRS issues with separate penalty fees to content with. So don’t double your debt. Deal with it one step at a time. And remember, you can get an extension on your tax return if you need it.

Taking Dumb Advice:

If it looks too good to be true, it is. Remember, even attorneys and accountants are in debt to the IRS. So don’t take any bad advice, no matter the source. Do your research or check with a qualifying tax professional before you make nay dumb risks.

Spending Your Refund Lighting Fast:

If you’re one of the lucky few you received a Tax Refund, don’t just spend it all in one fatal blow. I know many people who are in debt to many different creditors, and they just ignore those debts as if they don’t matter. Use your refund to take care of your responsibilities first!

Tax Fraud:

You are being watched. If you get greedy, you will be caught. It’s tempting to commit Tax Fraud to save a little green. Many people underreport their income, claim dependents they don’t have, or falsify deductions. But if things look fishy, the IRS will investigate you. So don’t make this mistake.

Avoid Temptation: Just because you “heard” something is true, doesn’t mean it is. Do your research before you take any actions with the IRS. One small mistake can cost you thousands of dollars easily.

Now You Have The Smoking Gun…Use it!

Richard Close was an IRS-Hitman. He worked as a revenue officer for the IRS and his father was the head of the collections branch for 30 years; so it runs in the family. He left that behind and now he’s partnered with Tax Defense Network to help thousands of Americans with their tax problems. He gives the tips and tricks for you to fight the IRS and win! Visit him at: http://irs-hitman.blogspot.com or http://www.taxdefensenetwork.com or contact: email irs-hitman@taxdefensenetwork.com or 1-888-248-9058.

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