Friday, October 24, 2008

IRS Collections

The IRS is the ultimate debt collector. Credit card companies can ruin your credit score and write you lots of nasty letters. Automobile finance companies can repossess you car and your bank can foreclose on you if you do not pay your mortgage. The IRS can take money directly out of your bank account and they can demand that your employer send them a huge portion of your paycheck if you owe the IRS money! They have the ultimate power to collect!

The IRS can also put a lien against your social security number thereby affecting your ability to obtain credit, and buy or sell a home as well as many other things. If you are faced with an IRS collection you need professional representation for several reasons. First, a professional tax resolution company can request an immediate “stay on collections” thus buying much needed time to fix the problem. And second, they can find the best resolution for your specific situation. The last thing you would ever want to do would be to wait and let the IRS pursue some of their collection actions.

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