Dealing with a big tax debt? Here are 5 tips on how to set things right with the IRS
div > div.group > p:first-child"> If you have a big tax bill that you can't pay, life can seem pretty bleak.
If you're in that boat, however, it is not the end of the world. There are steps you can take to reduce the impact of unpaid taxes on your life, credit and financial well-being. Here are five tips to lessen that burden. Tip 4: Owe $10,000-plus? Hire an attorney. If you owe more than $10,000, consider hiring a tax attorney to negotiate with the IRS. Payment plans differ, and an experienced attorney can help you get better terms. They can also help you avoid having a tax lien being assessed against you, which will damage your credit.
"Knowing many of these attorneys, they can provide a lot of value," said Lulic, who formerly worked for Optima Tax Relief, a major company in the industry."But people have to do their research and explore their options."
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