Since the New Year has rolled around, I’ve made myself a promise: I want to get rid of my tax debt. I owe about $140,000 in back taxes and now earn about $65,000 per year (with no savings). I don’t know where to begin. Can you help?Wednesday, January 10th, 2007
You’ve made the first step. The hardest part in overcoming tax debt is coming to the realization that you want to finally eradicate that debt. Considering the amount you owe and your annual income, I realize that this tax problem can seem insurmountable. But trust me: It isn’t.
What you need to do is find a qualified tax professional. He or she will analyze your