More from My BigBiz Show Interview: Don’t Ignore the IRS Unless You Want Them to Levy Your Bank Account
When I was on the BigBiz Show with Russ and Sully ealier this month, we talked about what taxpayers should know about working with the IRS to solve their tax problems. We also talked about the tough economic times that we’re experiencing and how it’s not so much a Great Depression – but a Great Correction.
And as Sully pointed out, for many Americans, April 15th is not tax filing deadline, it’s tax extension filing deadline. Listen to the full interview or catch some of the highlights below.
The hot topic of the interview? With everybody forgiving debt to help stimulate the economy, is the IRS going to go easier on people with tax problems?
According to IRS Commissioner Doug Shulman, the IRS is going to offer more flexibility to distressed taxpayers.
But in reality, the IRS is only increasing their enforcement and collection efforts.
I read something yesterday that said the IRS, in what may be considered financial sensitivity training, is encouraging people who are struggling to pay taxes during the global economic crisis, reach out and talk to them. So whether you decide to take your IRS agent out to lunch, know that there are income tax relief options available.
For one thing, we’re able to negotiate IRS payment plans for over 7 years instead of 5. So it is helpful to some people and we’re able to get some levies released a lot quicker.
If there’s a levy filed on your bank accounts or your assets, it’s probably because you haven’t been communicating with the IRS and you’ve put yourself in an adversarial position. You’ve ignored them, you’ve ticked them off, you’ve ignored every single letter, and there’s 5 letters in a series for every year that you owe that you get, the last 2 come certified. So you’ve got to really ignore them for them to get ticked off and levy you.
If you ignore the IRS, they’ll come right to your front door. You don’t want to tick them off!
You don’t even need to look them up. No 800 number, no Google search…*knocks* IRS! “been expecting you!”
And you can definitely expect more aggressive tax collection tactics this year – given this extraordinary economy, there’s a lot of tax loss, which mean less revenue for the government.
For the year 2008, they’ll collect about $2.5 trillion and in 2007 they collected over $3 trillion. So they’re making up the difference by going after tax cheats, dead beats, tax cheaters.
The IRS collected about $56 billion in back taxes in 2008, which is about 14% higher than it was in 2006. And there’s still an approximated $345 billion tax gap.
Individuals with tax problems make up an entire microcosm of our society .
15% of the American tax paying public either has not filed or has a tax delinquency problem.
That is more than the foreclosure rate and the unemployment rate put together. And it affects everybody: rich, wealthy, poverty…everybody.
So if you are a late filer or need help resolving your tax debt, get expert help from the nation’s leading tax negotiation and mediation firm! Call us at 1-866-IRS-PROBLEMS for a free tax consultation.
Michael Rozrbruch Talks About Providing "Emergency Room" Services for Individuals and Small Businesses with IRS Tax Problems (click to view)
More Tax Help, IRS News and Tax Relief Tips:
- 5 Reasons to File Delinquent Tax Returns: There’s Still Hope if You Haven’t Paid Your Taxes This Year
- Obama Proposes Doubling Tax Law Enforcement Budget and Seeks $400 Million Funding Boost for IRS Enforcement Activities
- Closing the Tax Gap Could Pay Back $700 Billion Bailout in 2 Years
- With Tax Revenue Down and Government Spending Up, Individuals with Tax Problems Will Be Targeted By IRS
- Tax Expert Gives Tax Filing Info on Fox News
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