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When the IRS Wants More Money Than You Have

Written by admin. Posted in Irs payment plans, Owe back tax, Owing back tax

Owe irs taxes

According to an old saying the only things that are certain in life are death and taxes. Niether of them are likely to appear on a list of the worlds most fun items. Americans have been paying taxes since 1787 when the U. S. Constitution was adopted. The government was given the authority to set and collect taxes, but required that some kinds of tax revenues be given to the states in proportion to the state populations.

Some companies offer options for tax deferred retirement contributions, or allow employees to have more money taken out of their paychecks to make sure there is enough to cover their taxes. However, there are millions of Americans who owe irs taxes each year.

For those who owe irs money and can not pay, the IRS can issue a tax levy, and legally seize property. However, the Fifth Amendment of the Constitution prevents the IRS from taking an individuals primary residence without due process of law. If you owe back taxes to irs you are advised to contact the IRS directly or with the help of a tax expert.

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Comments (4)

  • Marcus Wage

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    Wow, I was a little depressed about having no money left after paying all of my bills but now I feel much better knowing that I am all caught up on all my bills, including the tax bill.

    Reply

  • Alex Hudson

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    I work as an independent contractor, and love what I do but do not like paying taxes. It is not easy to set aside the money to pay, and it is the only thing I miss about working 9 to 5.

    Reply

  • Philip George

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    I work as an independent contractor, and love what I do but do not like paying taxes. It is not easy to set aside the money to pay, and it is the only thing I miss about working 9 to 5.

    Reply

  • Ava Richards

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    I work as an independent contractor, and love what I do but do not like paying taxes. It is not easy to set aside the money to pay, and it is the only thing I miss about working 9 to 5.

    Reply

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