Tax Liens Can Mean You Owe Back Taxes

If you applied for a loan or checked your credit score to find out that there is a tax lien on it, you need to contact the IRS right away. A tax lien is often taken out on a Texas property when someone owes back taxes. If a tax lien was taken out against you, that means that there is a chance that you could have a wage garnishment in your future, as well.

Paying Off Back Taxes Doesn’t Have to be Difficult

Many people assume that paying off tax debt is a huge hassle. The IRS will work with you to establish payment plans or they may even take an offer in compromise if you’re short on funds. You can negotiate to pay a specific amount in lieu of the total amount that you owe, after you provide information on your financial situations.

You can also work with TX tax relief programs to determine if you overlooked deductions that could have saved you money or may even be able to pay a portion of the debt that you owe so that you pay less out of pocket.

Certain Situations Can Lead to You Paying Nothing at All

Even though the IRS says you owe back taxes, there is a chance that you may not actually have to pay. If you allowed your husband or wife to file your taxes, ask the agent if you qualify for innocent spouse relief. If you do, you could be eliminated from all responsibility to pay off the tax debt because you didn’t have anything to do with the filing. It’s important to realize that innocent spouse relief isn’t given year after year, so you need to take responsibility for filing your taxes after your spouse makes a mistake.