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Exploring Tax Solutions in Louisiana
Louisiana was hit particularly hard by the recession, and this led to an increase in back taxes and tax debt. In spite of positive economic changes, many people are still struggling to repay the IRS and the LA Department of Revenue. This problem can seem overwhelming and some people feel powerless when they owe tens of thousands of dollars in tax debt.
Fortunately, there are ways to reduce the debt and to develop a more manageable payment plan. It’s a matter of understanding the collection process and identifying the resources available to you.
Aggressive Collection Techniques
The IRS isn’t required to abide by legal collection procedures. They can take immediate possession of your property without a court date, place tax liens on your assets, freeze your accounts, and offset future refunds to collect on tax debt. Many taxpayers also face wage garnishment and the loss of retirement funds.
It doesn’t have to come to this. Communicating with the IRS and your local taxpayer advocate can help you to understand the options that are open to you. Even if you owe more than you could repay in a lifetime, there are ways to reduce the debt.
Understanding Tax Relief
Contacting a tax relief professional can give insight into both the offer and compromise and innocent spouse relief processes. Both can reduce your tax debt and create an income-based repayment plan that does away with the threat of tax liens and aggressive collection techniques. Once you make an agreement with the IRS, follow through to the best of your ability.
Missing even one payment or forgetting a form can put you back at square one. The IRS has more repayment options than most people realize and investigating all of these can help you to avoid future tax debt repercussions.