| What NOT to do: People learn form their mistakes. | | | | extension on your tax return if you need it. |
| Maybe you decided not the pay your taxes. Found | | | | Taking Dumb Advice: |
| out the hard way that it's not a good idea, didn't | | | | If it looks too good to be true, it is. Remember, |
| you? But if you're lucky and you've managed to | | | | even attorneys and accountants are in debt to the |
| avoid IRS debt this long, it helps to know the top | | | | IRS. So don't take any bad advice, no matter the |
| five mistakes you can make that will get you in debt. | | | | source. Do your research or check with a qualifying |
| Ignoring IRS letters: | | | | tax professional before you make nay dumb risks. |
| This makes my blood boil. A letter like, "Final Notice | | | | Spending Your Refund Lighting Fast: |
| and Intent to Levy" received certified mail looks | | | | If you're one of the lucky few you received a Tax |
| pretty darn important. So why would you cast it | | | | Refund, don't just spend it all in one fatal blow. I |
| aside? Most people think IRS Debt is out of sight, out | | | | know many people who are in debt to many |
| of mind. No such luck. Ignoring your debt will make it | | | | different creditors, and they just ignore those debts |
| grow. Plus, ignoring your debt will force the IRS to | | | | as if they don't matter. Use your refund to take care |
| use their forcible collection methods against you. | | | | of your responsibilities first! |
| Not Filing: | | | | Tax Fraud: |
| Can't pay your taxes? Then it's a good idea not to | | | | You are being watched. If you get greedy, you will |
| file you Tax Returns, right? The IRS will never find | | | | be caught. It's tempting to commit Tax Fraud to |
| you. Think again! Failing to file is actually a criminal | | | | save a little green. Many people underreport their |
| offense. Not paying on time and not filing are two | | | | income, claim dependents they don't have, or falsify |
| separate IRS issues with separate penalty fees to | | | | deductions. But if things look fishy, the IRS will |
| content with. So don't double your debt. Deal with it | | | | investigate you. So don't make this mistake. |
| one step at a time. And remember, you can get an | | | | |