Are you in debt? Is one of your debts to the IRS? If so, then do you know that you are one of the reasons that the IRS is hiring thousands of new revenue agents? And did you know that the job of these new revenue agents is to seek you out and make you pay back what you owe?
The financial crisis is getting worse, and the IRS is feeling the pinch. It knows that there are many people who are not paying Uncle Sam what they owe, and so it's increasing the size of its workforce to hunt down those who have an outstanding tax debt.
Another section of taxpayers who will get special attention from this additional IRS manpower are those who are self-employed, or who own small businesses. If you fall into this group and you've paid your taxes, don't think that you're going to be exempt from scrutiny. Uncle Sam is watching you closely. The IRS revenue agents and officers are going to be conducting an increased number of audits to ensure that you have declared and paid every cent that you're supposed to. If you know you made an error, and it's nothing more than that, then read Bill Bishcoff's June 2nd article from the Wall Street Journal on how to correct this by filing a 1040X form.
If you know that you're either in arrears with your IRS payments, you're in debt to the IRS, or you did your own bookkeeping and think you got it right but aren't sure, then you need to speak to a licensed tax professional as soon as possible. They will go through your case, and bookkeeping if applicable, with you and suggest what you need to do to avoid the IRS taking any formal action against you. If you're already in financial difficulty, the last thing you need is a court ordered wage garnishment against your salary. Not only will this reduce the amount of income you receive on which to live, it will also affect your credit rating - and this is going to mean that you're more likely to get harassing phone calls from other companies to which you owe money (and which you can't pay regularly because of the reduced income)!
If you suspect there's a problem with your IRS liability, or you have had notification that the IRS is coming after your salary, contact Mike Habib, EA immediately at http://www.myirstaxrelief.com. Don’t be bullied by the IRS, let a licensed professional guide you through a successful tax relief conclusion!
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