Fear and Loathing: The IRS is a fearsome force. With minimal effort they can take your car keys, your savings, your house, and your paycheck. Many people are terrified to file their taxes or even seek professional help to get them out of their IRS Tax Debt. Here are some common IRS and Tax related fears, and how to overcome them.
Fearing to file Unfiled Tax Returns:
Many people have unfiled tax years. They want to file, but they are terrified. They think the IRS will automatically hunt them down and put them in jail.
Reality: Actually, the IRS is trying to encourage people to file their unfiled tax returns. It's a pain for them to file a substitute form for you. So get to work and file those unfiled tax returns.
Fearing Professional Help:
There's plenty of crooks and scammers out there. With lots of press covering phising fraud, it's understandable that many people fear all tax professionals. This fear isn't entirely unjustified. You need to watch out, because there are tax professionals who are only in it to make a buck.
Reality: If anyone is asking for your bank account or credit card number the first time they talk to you on the phone, they could be scammers. But if you are intimidated by the IRS, hiring a Tax Professional is actually a good idea that the IRS advocates. People can make stupid mistakes when they're scared and get further into trouble.
Fear to Face Up:
IRS notices have been coming in the mail. You were too scared to open them, so you ignored them. This is the usual attitude of people in debt to the IRS.
Reality: Ignoring your IRS debt is the biggest mistake you can make. But thousands of people do it every year. The IRS adds penalties and interest to your debt for every month you don't pay. The debt can quickly go from being in the hundreds to being in the thousands. So face the facts, open those letters and get busy resolving the problem.
World of Hurt: Don't let fear overcome you. The IRS is big and bad, but you're not defenseless. There are plenty of resources to help you combat the IRS and your IRS Debt.
Now You Have The Smoking Gun...Use it!