Numerous studies show that the money problems are the #1 source of arguments in marriage. Credit debt, loss of a job, unforeseen expenses – you name it…all can be stressful on a marriage. If you toss IRS problem into the mix, you may have a recipe for disaster.
The IRS has more far-reaching power than any collection agency could ever have. No other entity has the power to dip into a bank account, garnish wages, seize property, put a lien on a house…and possibly put those found of tax evasion in jail. So if money problems cause arguments, IRS problems can cause absolute fallout.
3 Timely Tips for Couples in Crises
1. If you can’t afford to pay your taxes, file anyway: it’s not a crime to owe the IRS money. However, failing to file is considered tax evasion and is punishable by jail time.
2. Choose the right professional to help you: accountants are trained in tax preparation, not IRS problems. An experienced attorney who deals with IRS Problems can negotiate a lessening of IRS penalties, negotiate payment agreements and will represent clients before the IRS without their presence.
3. Know Your Options: there are legal ways to negotiate with the IRS, including being declared Non-Collectible, an Offer-In-Compromise, a monthly installment agreement plan, a partial installment agreement and bankruptcy.
All of these options have their pros and cons.If you are in trouble with the IRS, you owe it to yourself, your spouse and your children to put and end to the worry and stress and get on with your life.
If you'd like to discuss the details of your particular issue to come up with the best plan of action, contact us.