A fast paced world...
You're in debt to the IRS and you want it off your shoulders...
right now! You've gone round and round with an IRS revenue officer, but they aren't being much help.
They just want to know about your assets and when you can pay the debt in full.
And you keep telling the guy that if you had the money to pay off the debt you would.
So how can you pay off the IRS debt fast, fast, fast! They will get your money...
The fastest way is to of course pay off the debt in full, but you don't have that kind of money...
or do you? There's a reason that IRS revenue officer wants to know about your assets or any other accounts that you might have squirreled away.
Because the IRS wants to seize and sell it at auction in order to collect on your debt.
So do you have any assets you can sell? When you're in debt to the IRS it may be time to tighten your belt.
Do you have a boat, or multiple cars...
you may need to sell them.
After all you'll probably be able to get a better price for them then the IRS will.
Do you have any investment accounts like a pension or 401k? You may need to make an early withdrawal to pay off your debt.
Just make sure you pay the taxes on the withdrawn money or you'll owe the IRS all over again.
How about equity in your home or some other property? I know the way the home market is today may not allow you to take out an equity loan or refinance, but if you are able to you might want to consider it.
There are also credit cards and bank loans.
I know you're thinking that you don't want to trade one debt for another, but trust the IRS-Hitman on this...
the highest credit card interest rate is peanuts compared to the interest and penalties the IRS assesses on your debt.
The taxmen have other plans...
The fasted way the IRS wants to pay off your debt would involve the following: they would levy your bank accounts, and other funds that you might have.
They would seize your assets and property and sell it at auction which is almost always at a loss.
And to add insult to injury they'll put a tax lien on your credit so that you can't get a bank loan, credit card, or any other method to pay back the lump sum.
Slow and steady...
Of course there are slower ways to pay off the IRS including Offers in Compromise, Installment Agreements, and Penalty Abatements.
But those can take a year or more and who has that kind of time.
Now you have the smoking gun...
Use it!
You're in debt to the IRS and you want it off your shoulders...
right now! You've gone round and round with an IRS revenue officer, but they aren't being much help.
They just want to know about your assets and when you can pay the debt in full.
And you keep telling the guy that if you had the money to pay off the debt you would.
So how can you pay off the IRS debt fast, fast, fast! They will get your money...
The fastest way is to of course pay off the debt in full, but you don't have that kind of money...
or do you? There's a reason that IRS revenue officer wants to know about your assets or any other accounts that you might have squirreled away.
Because the IRS wants to seize and sell it at auction in order to collect on your debt.
So do you have any assets you can sell? When you're in debt to the IRS it may be time to tighten your belt.
Do you have a boat, or multiple cars...
you may need to sell them.
After all you'll probably be able to get a better price for them then the IRS will.
Do you have any investment accounts like a pension or 401k? You may need to make an early withdrawal to pay off your debt.
Just make sure you pay the taxes on the withdrawn money or you'll owe the IRS all over again.
How about equity in your home or some other property? I know the way the home market is today may not allow you to take out an equity loan or refinance, but if you are able to you might want to consider it.
There are also credit cards and bank loans.
I know you're thinking that you don't want to trade one debt for another, but trust the IRS-Hitman on this...
the highest credit card interest rate is peanuts compared to the interest and penalties the IRS assesses on your debt.
The taxmen have other plans...
The fasted way the IRS wants to pay off your debt would involve the following: they would levy your bank accounts, and other funds that you might have.
They would seize your assets and property and sell it at auction which is almost always at a loss.
And to add insult to injury they'll put a tax lien on your credit so that you can't get a bank loan, credit card, or any other method to pay back the lump sum.
Slow and steady...
Of course there are slower ways to pay off the IRS including Offers in Compromise, Installment Agreements, and Penalty Abatements.
But those can take a year or more and who has that kind of time.
Now you have the smoking gun...
Use it!