Owing The IRS Is Like Dancing With The Devil

Owing The IRS Is Like Dancing With The Devil

 

Owing the IRS sucks! I have worked with thousands of taxpayers over the last 37 years. All of them had one thing in common they were afraid of the IRS up to a point. Afraid of getting audited, getting caught, losing everything to a tax collector. They had good reason to be afraid. The IRS can be very invasive into your life. It can seize your bank account and your wages. It can destroy your credit and all the sudden you find you are being denied new jobs or promotions at work. Owing the IRS is a big deal that just won’t ever go away by itself. That is why we are in business. To help people in trouble with the IRS to respond to the IRS with a plan that they can live with.

Owing anyone is hard. The problem for many of my clients is it can be a rough transition back to being in full compliance with tax laws. That means that you file and pay your taxes on-time all the time in the present and the future for as long as you live. That is the only way that you can get a deal with the IRS, doing things their way.  There are many nuances to this that a tax professional can help you with. Call Richard Schickel today at 520-448-3531 to get started.

Say for instance you are self-employed and earning $10,000 a month. Think about it $10,000 in your bank account. It is a lot of money. But also think about the fact that about 40% of that money should be paid to the IRS for your Social Security and future health care (Medicare) 15.3% in fact. Then add another 3 % for your state taxes and then lets estimate 20% to the IRS. Could be more depending on your circumstances. But many people spend money – all the money and then claim that they are unable to pay their taxes.

The IRS has a problem with that. Because with Income Taxes you only get taxed on that money if you have earned the money as income so it had to pass through your hands. What you chose to do with it is the problem.  That is what I call dancing with the devil. Be careful. Call us, we can rescue you.

 

 

Leave a Reply

Your email address will not be published.