Friday, February 13, 2009

IRS Tax Debt Loans

Working as a tax consultant for a tax resolution firm is a very interesting profession. In my position I see people striving to come up with creative ways to “finance” their IRS debt. Amazingly enough the best source of financing such a debt turns out to be the IRS itself. Whenever a taxpayer owes money to the IRS they usually wind up getting into some type of installment agreement.

Taxpayers will borrow money from various sources to pay the IRS to avoid “owing” the IRS. They may resort to refinancing their home, taking out a home equity line of credit, credit cards or borrowing from their 401K or a life insurance policy. What most people may not realize is that the interest rate on an IRS installment loan can be lower than 6%! And better yet you don’t have to have your credit checked. If you need an installment agreement with the IRS call a tax resolution firm and let them negotiate it for you. It’s not a bad investment!


monkeyDluffy said...

Nice to hear that in other jurisdiction tax dept consolidation had benefits such as the ability to look through the acquisition of shares of acquired companies to depreciate the underlying assets.

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Liza Gen said...

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