Be Smart About Your Tax Debt

For many years now the tax resolution industry has claimed in its advertising (or at least implied in its advertising) that it can settle your tax debt.  If you are on this web site reading this blog, the chances are that you are a savvy consumer.  Congratulations.  We will invite you to think about what you have heard.

Obviously, if a taxpayer is unable to pay his or her tax debt, he or she has many options to settle his or her tax debt.  But the IRS will not simply accept a phone call assuring them that the taxpayer can not pay–this is the government we are talking about!  Paperwork will be involved, to understate the case , in order to get rid of tax debt.  You will need to prove your wages, the taxes that are withheld, your housing and utilities.  If you were going to forgive somebody’s debt you might want to make sure they were broke first.  Makes sense, right?

So if you owe $100,000 in tax debt, for example, and you have $200,000 sitting in your bank account, the IRS is probably going to want to know about that and they will not allow a settlement for less than your tax debt, because you can pay the tax debt.  Makes sense.

Kansas City Tax Mediation prides itself for being honest with our clients.  Call us today to schedule a free, face to face consultation to discuss the best way out of your tax debt.  Kansas City Tax Mediation: Let’s get through this together.

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