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Virginia has been facing an economic crisis not unlike ones being faced in the rest of the country. This is led to an increase in tax debt and predatory collection methods utilized by the IRS. People everywhere are trying to figure out how to fight back against the loss of their possessions and seeking tax relief everywhere possible.
For those living in VA, there are a number of taxpayer advocates that can help you to navigate your options and to understand how to avoid inflammatory debt. The first step comes in understanding what the IRS can do and the nature of their collection process.
IRS Collection Methods and Their Consequences
The IRS isn’t required to abide by normal legal collection processes. They don’t have to go to court in order to take immediate possession of your assets. As long as your home or vehicle doesn’t exceed the amount owed to the IRS, they can show up at your door with a possession order at any time.
This is usually a last resort, and they’ll send a number of certified letters that give you time to respond. You may also be facing a tax lien or wage garnishment when your assets aren’t enough to cover the immediate debt.
How to Defend Yourself Against Debt
When a person is can’t pay off their debt, they can file an offer in compromise to reduce the debt based on their income. This allows them to make a lump sum payment or to stretch payments out in a more manageable way.
For those suffering from the debt from their spouse, there is an innocent spouse relief option that allows them to absolve themselves of that responsibility. It can help to speak with a tax professional to learn about your options and what you can do to protect yourself today.