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| Taxes (Photo credit: Tax Credits) |
Taxpayers who are not able to come up with the money that they owe the Internal Revenue Service (IRS) can find themselves between a rock and a hard place in many cases. Some filers who genuinely feel that they do not owe the amount of tax that has been assessed to them can find relief with the Taxpayer Advocate Service or the Office of Appeals division within the IRS. Some complex cases can only be resolved to the taxpayer’s satisfaction in a tax court. But those who legitimately owe back taxes to the IRS will face interest, penalties and eventually liens and levies upon their state tax refunds, wages and property.
SEE: What Happens When You Can’t Pay Your Taxes?
Unfortunately, these consequences can make it difficult for the taxpayer to pay off the debt, because these things can make it harder to get or keep a job or obtain affordable credit of any kind... Continue to read.
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