Sometimes carrying the weight of an IRS tax debt can lead to a lonely place. But, don’t beat yourself up too much. There are ways to fix the problem. You’re not a bad person because you owe taxes. And, you’re not alone, that’s for sure.
The IRS recently released some statistics from their collection of delinquent tax liabilities.In 2016 the IRS added 7,652,000 new tax delinquent accounts for a total of more than $14 million unresolved accounts by the end of the year. All that adds up to more than $138 billion in assessed tax, penalties and interest.
Reason to Act Now, Not Later
IRS liens and levies did not go up in 2016, compared to 2015.But the numbers still scare the heck out of me.
- 470,602 tax liens filed in 2016
- 869,196 levy requests sent to 3rd parties, like banks and employers
Reason for Optimism
In 2016 the IRS received approximately 63,000 Offers in Compromise from taxpayers looking to settle their tax debts for a lesser amount. About 27,000 of those were accepted. That’s about a 43% acceptance rate!
Contact us to find out how we help people fix tax problems.