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Handling Back Taxes Doesn’t Have to be Difficult
When you get a notice from the IRS that you owe back taxes, it can be difficult to know what steps to take to get yourself out of financial distress and back on the right track. Fortunately in Maine, there are many options when it comes to handling back taxes. There are tax relief programs that can help you see what mistakes were made when your taxes were filed and what you need to do to rectify the situation. They can also help you find programs that can help you with the payment that is due.
Only Pay Money You Truly Owe
If your ex or spouse filed the taxes for your family and made a mistake knowingly or unknowingly, you may be able to get innocent spouse relief. The government will not hold you accountable for something you knew nothing about.
You may also be able to negotiate to pay as little for the back taxes as possible by making an offer in compromise to the IRS. An offer in compromise is where you agree to pay a lesser amount as a settlement for the back taxes you owe due to financial hardship.
Pay Off Your Debt as Quickly as Possible
Putting off the payment of your Maine back taxes is not a good idea. The IRS can put a tax lien on your property so that they get the money that they are owed before you get any of it. The profits from the sale of your house or property that you own could be taken by the IRS entirely depending on how much money you owe.
You also could have your wages garnished if you fail to pay your taxes. The IRS is limited on how much wage garnishment they can take from your check.