| Can't Cope? There's no end in sight. You can pay on | | | | and Interest on Tax Debt is a lot higher than a loan |
| your IRS debt for years with no progress at all. Maybe | | | | from a bank. A typical Bank Loan, if you can get one, |
| you've been paying off your Tax Debt with an | | | | is around 6.5% interest versus Penalties and Interest |
| Installment Agreement. Even when you make your | | | | on an IRS Debt which is usually 8% compounded daily. |
| payments on time, interest continues to accrue every | | | | 2. If you have a Lien on your credit or your house, the |
| month. With your bill exploding and expanding with high | | | | IRS will release the Lien so you can take out the loan |
| interest fees, it's like taking one step forward and two | | | | to pay off your IRS Debt. But the release is very |
| steps back. How can you get ahead? | | | | specific and typically does not allow for other uses like |
| Hope is Here: Taking out a loan at the bank to pay | | | | taking money out to buy a pool. |
| your IRS debt is a good way to stop interest from | | | | 3. You can make things simpler by consolidating your |
| accruing on your account, and fast. Even if your credit | | | | IRS Debts and paying off your multiple Tax Debts with |
| is in trouble you can still qualify for a loan and decrease | | | | one Bank loan. |
| your tax debt. | | | | 4. Once your IRS debt is paid off in full, you can finally |
| How a Bank Loan Can Help You: | | | | start receiving your Tax Refunds. |
| 1. A Bank Loan is cheaper than an IRS Debt. Penalties | | | | |