Owing back taxes to the IRS is much more common than most people think. Every year tens of thousands of people cannot pay their taxes. Most individuals continue to increase the amount of taxes owed because they don't work with the IRS to resolve their problem. When an individual does not pay the taxes owed, the IRS will tack on interest and penalties until they resolve their tax issue. Many people don't realize that there are many options for paying back taxes, even when you cannot afford to pay. Below are some options to consider in order to pay back taxes.This may sound like the obvious option, but here are some methods that people normally don't think about.
Take out a home equity loan and use the money to pay the taxes owed. With this method you will transfer your tax debt into your mortgage payment and you will be paying a low monthly percentage on that debt.
Borrow from friends and family. This is only a good option if you know you will have the funds to pay them back in the near future. If you will not have the funds to pay them back, it is much better to go with another settlement or payment method to pay the IRS back.
Go through your garage and sell some stuff on Ebay. Do you have an assets lying around that are valuable that you can sell? Ebay is a great place to post things up and see how much you can get. An average person can go through their old stuff and receive a thousand dollars or more from stuff they no longer need.
Pay on credit. Be careful with this one. You don't want to carry the balance for too long. The interest rate on credit is way more than the interest you would pay if you setup an installment agreement with the IRS.
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Post je objavljen 14.05.2012. u 08:39 sati.