Everyone understands the importance of doing their part for community and society. Taxes are a responsibility that everyone has in order to maintain the infrastructure and amenities that we all enjoy. However, sometimes it is not always possible pay the amount of taxes that are owed. It is not always your fault either. Sometimes life just gets in the way through injury, illness, loss of a job, divorce, or other circumstances. The IRS is not perfect either. They can make mistakes and sometimes you do not know what they say that you owe. Maybe it was a mistake that a spouse made, or maybe they are simply wrong. Regardless of the reason, the IRS has many collection tools at their disposal including property confiscation and IRS wage garnishments. Many people do not realize that they have options too. These include an offer in compromise, release of levy, payment plans, and innocent spells relief.

What should you do if the IRS has you in collections? The first thing that you should do is not ignore the problem. They will not go away and many of these problems are easier to resolve in the early stages than if you wait. Many people do not know that IRS wage garnishments can create problems with their employer or could prevent them from getting a job in the future. You will have to repay the money if you owe it and if you do not owe it, it will still have a negative effect on your future if you do not resolve the problem. IRS wage garnishments can affect your credit score and your ability to obtain a vehicle, purchase a home, and can cause current creditors to raise interest rates.

The problems associated with IRS wage garnishments have a compounding effect and can significantly affect all areas of your life. The first thing that you have to realize is that if you have received any collection letter from the IRS, eventually you will be facing an IRS wage garnishment if you ignore the problem. This is not an “if”: it is a “when”. Before you face the consequences and the downhill spiral that an IRS wage garnishment creates, you need to know that you too have options.

The first thing that you should do when you get a collection letter is to contact a professional tax consultant who can help you understand your options and the steps that you should take next. Colonial Tax Consultants can help you not only understand the consequences if you ignore the problem, but they can offer many solutions to help you alleviate your problems with the IRS and get on with your life.

A tax consultant can help you settle your debt with the IRS or eliminate it, if it is something that you do not owe. They can help you wade through the processes of innocent spouse relief, penalty abatements and forgiveness, statute of limitations, corporate restructuring, arrange an installment agreement, or negotiate an offer in compromise. An offer in compromise is often a solution that the IRS will accept a pending on your situation. Colonial Tax Consultants can help you negotiate your offer in compromise and settle your tax debt.

Author Bio: Stewart Wrighter recently searched the term Offer in compromise to find an advocate to help with an IRS tax lien. He searched the term IRS wage garnishments to find an advocate to help with an IRS issue for a friend.

Category: Business
Keywords: Offer in compromise,IRS wage garnishments