Tag Archives: IRS Debt

6 Tips From Science Help You Stop Ruminating On Your IRS Debt

When you face a large IRS debt, your mind may keep replaying the situation: Like a broken record endlessly playing in your mind, you may think, “How will I get through this? Why didn’t I do something different? What if I lose my house, business or family? What’s going to happen next?” Such repetitive thinking—known […]

Rebuilding Your Credit After IRS Debt: Dos and Don’ts

Delinquent IRS debt may negatively impact your credit score even after it has been settled or paid off. A low credit score can make it difficult for you to buy a house, finance a car or get a loan. Follow these tips to improve your credit score. Check Your Credit Report The IRS won’t report […]

How to Run a Small Business and Motivate People While Under a Cloud of IRS Debt

As a small business owner, you’re at a higher-than-average risk of being audited. If you have IRS debt while running your company, the stress and uncertainty associated with your burden can distract your focus: It’s no fun to market your products or services with an IRS black cloud hanging around in the background; It’s anxiety-provoking […]

Communicating with the IRS About Money You Owe the Government: 4 Do’s and 2 Don’ts

You’ll be communicating with government agencies often if you have IRS debt. Your communications may affect your installment plan and overall payment amount, so observe the following do’s and don’ts: Do Respond To All Communication Never ignore letters or phone calls from the IRS. Having an IRS debt can be daunting, but ignoring the situation […]

Podcasts Share Secrets of Breaking the IRS Debt Cycle

You’ve just completed your taxes and—like last year and the year before that—you’ve once again discovered that you’re going to owe Uncle Sam a good chunk of money. Now’s the time to figure out what you’ve been doing wrong and what you can do differently in the coming year. Your goal should be to break […]

IRS Debt? Don’t Do These 5 Things

When it comes to filing taxes, most people want to be up-to-date on their finances and have their earnings accurately reported. What no one wants is a letter from the IRS stating that they owe money. But what then? Do not liquidate your retirement savings to pay down the IRS debt. You might consider liquidating […]

The 20-Mile March: A Powerful Way of Thinking About How to Pay Off a Substantial IRS Debt

You’re in debt to the IRS. Whether you owe $5,000 or $50,000, the fact remains the same – they want your money, and there is no way around it. When bills are piling up, the mortgage needs to be paid and the holidays are quickly approaching, any IRS debt can feel significant, and you’re now […]