Unpaid Income Taxes
Tax relief companies can help you manage your back taxes. The amounts can be from situations such as a failure to pay on filed or unfiled tax returns or unpaid payroll taxes, capital gains, investment distributions, and include penalties and interest.
Since the recession that began in 2007, many Americans’ incomes have either decreased or disappeared completely. In order to survive, many people have had to withdraw funds from retirement accounts, cash in 401(k)s, and IRAs prematurely, and liquidate assets such as stock, sending them into higher tax brackets and leaving them unprepared for the tax bills that came with those actions. Even more had to increase the amount of "dependents" they were claiming at their wage earning job in order to be left with enough to pay their monthly bills.
If you were a 1099 employee, such as a mortgage broker, or construction contractor, prior to 2007 you were probably using gains made in the beginning of the year to pay the taxes due from the past year. Suddenly these people did not have the funds to pay the taxes they had incurred before their income faltered. This has led to a huge number of Americans with unpaid IRS accounts.
Having unpaid income tax rarely defines a person's character, or income. In fact, IRS agents, accountants, lawyers, clergymen, upper, middle and lower class Americans all fall victim to this situation.