A Time And A Place For Everything!
Posted: Monday, January 12, 2009
by Michael Brewster
Brewster & Scott - Tax Law Services
Over the last several days, I have been repeatedly reminded that there is a time and place for everything. However, that does not necessarily mean right here, right now.
Not everything is best at all times. Look at the recent collapse of housing markets throughout the country.
While the prices were falling, it was not a good time for investors to be getting into the market. It could have been a good time for them to get out.
Everything around us runs in cycles. It all has its ups and downs.
Currently, we are in a down turn in the economy. What does this have to do with taxes?
The government is in a need for money due to various causes that required large amounts of spending. So how do they get the money they need?
Well, they have one of two ways. Either they increase taxes or start collecting the money that is owed but, has not been paid.
What does this mean to you? The IRS has been placed on a mission to collect the monies owed by taxpayers.
We can either take action to ensure this does not happen to us or we can wait until it does. The same is true for those that currently have back tax issues.
We can no longer sit on the side lines and wait to see what will happen. The options that we are given in that situation are much more costly than over wise foreseen.
It is a new year. It is now time to clear out the old so we can make room for the new.
Do not continue to let old tax issues be a burden to you. Take action to get them resolved while you still have the ability to make some decisions.
The last thing anyone wants is to leave all the decisions to the IRS. Typically, the options they provide are not that favorable.
Seek out and consult an Experienced Tax Professional to determine what options are available. Learn what benefit would best fit the situation for a quick resolution.
Do not let tax problems persist and fester. Clear this up now and get moving forward with life once again.
Michael Brewster, EA of Brewster & Scott Tax Law Services is Admitted to Practice Before the IRS. More information is available at http://www.stressfreetaxhelp.com.
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Top-level comments on this article: (2 total)Michael, I think your advice makes sense. Is it true that millions and millions of dollars are owed in back taxes?Thanks for your article.Nancy,
The amounts owed fluctuate on a daily basis. However, the amounts owed currently exceed the millions and are in the billions range. If the overall amount of taxes owed were paid in full in would significantly reduce the federal deficit down to a manageable level. However the amount is growing and not going down.
Thank you,
Michael Brewster
They will follow you to the grave and beyond and they have the power to take it all. Credit card companies, well only 95% on unsecured debt, Good job.
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