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According to Internal Revenue Service records, thousands of taxpayers owe them money every year. These unresolved IRS tax debts come from people who filed their tax return and could not pay in full. The IRS also has a huge volume of work in pursuing taxpayers who have not filed tax returns. The goal of the IRS is the collect as much as possible.

There are many reasons you may end up owing the Internal Revenue Service. To avoid an unresolved IRS tax debt, consider the following situations:

  • You did not file your tax return, or filed your return improperly. In this case, the IRS will prepare your tax return correctly and determine what you need to pay.
  • You did not pay the full amount of your tax liability.
  • You owe additional taxes after an IRS audit was completed.
  • Your lost your court appeal and failed to request another hearing.
  • You omitted required details on your tax return resulting in additional taxes.

No matter what the reason for owing back taxes, you have a tax debt problem with the Internal Revenue Service that needs to be immediately resolved. There are many rumors regarding IRS collectors. Do not believe everything you hear or allow these rumors to cause you to hide, or to accept a tax debt you believe to be incorrect. Consult with a tax expert for advice and help.

The IRS is under no legal obligation to take you to court before assessing a tax levy on your bank accounts. They have the power to seize any asset you have to settle your tax debt. You can prevent the bank levy assessments by immediately responding to all IRS notices. Consult with a tax relief company to learn what you can do to resolve your tax debt before your assets are levied.

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