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If it Sounds Too Good to be True....

Taxes are a certainty. The Internal Revenue Service (IRS) spends millions of dollars every year on collection efforts and, as we have noted, have the ability to employ a broad set of powerful tools to obtain compliance from a taxpayer.

Taxpayers fall behind in their tax payments for numerous reasons, and once the numbers become sufficiently large enough, the taxpayer may fear the IRS will impose some draconian sanction to extract their unpaid taxes.

Those taxpayers may be tempted to turn to companies who aggressively advertise on television that they can reduce your back taxes to mere pennies on the dollar. One such company was recently shut down by the Federal Trade Commission (FTC) for deceptive practices. American Tax Relief claimed "it could remove tax liens and stop wage garnishments, bank and tax levies, property seizures" and "unbearable monthly payments."

They even claimed the IRS offered a "ONE-TIME" opportunity to taxpayers who qualified. Of course, this magic offer required their assistance in order for a taxpayer to receive such miraculous tax relief.

But there was no magic, and many customers described their experience on the FTC's website with the company as little more than a money grab, with the company making more than $100 million in fees from customers.

The tax code and its accompanying regulations are very large and complex, but there is no magic. If you have fallen behind in your tax payments or have failed to make your payroll tax obligations, you have options, but you are likely in need of a tax attorney who can help you understand the legal implications of this kind of tax debt and the viable strategies available to resolve the issue.

The Washington Post, "A tax-debt scheme shut down," Michelle Singletary, August 12, 2014

Tags: Back Taxes or Tax Debt

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