What Happens If You Cannot Pay Taxes You Owe?
The IRS is more powerful than you think. It comes down heavily on people who do not pay their taxes. From property attachment to a jail sentence, tax defaulters can face the IRS’s wrath in several different forms. But what if a person who owes taxes cannot pay due to temporary financial hardship? Will the IRS still wreak havoc on their life? Probably not. If you do not have enough funds to pay your taxes, don’t panic, you’re not alone. Every year some 5 million taxpayers need a payment alternative. Your inability to pay taxes you owe is not the [...]