There are countless ways to get in trouble with the IRS. From late filing penalties to unexpected audits, the agency always has the potential for adding stress to your already busy life. Preparation is key to avoiding such issues, but that provides little solace after you’ve been alerted to your IRS mess.
We get it; dealing with the IRS is stressful even under the best of circumstances. Anxiety isn’t inevitable, however; we’ve highlighted a few suggestions to keep your stress in check:
Identify the Worst-Case Scenario
This seems counter-intuitive, but it’s often useful to determine what, exactly, is the worst that could happen based on the realities of your situation. In many cases, this won’t be nearly as bad as what you’ve imagined. Chat with loved ones who have dealt with similar scenarios or search online for feedback from others in your situation.
In most cases, this worst-case scenario will not take place. Rather, you (or professional acting on your behalf) will correspond with the IRS, perhaps pay some fines, and set up a plan to resolve your tax situation. Remember: the IRS always wants to collect something, even when it’s not the full amount owed.
Typically, if you can demonstrate that you have acted in good faith and want to rectify the difficult situation you find yourself in, you’ll arrive at an outcome you can accept.
Get Professional Help
IRS struggles can feel incredibly lonely, but you always have the option of getting an advocate in your corner. When in doubt, it’s better to seek assistance, as there’s only so much you can understand or handle on your own.
An IRS enrolled agent is a great option; intimately familiar with tax procedures and policies, this professional will handle the burden of interacting with the IRS. This frees you up to focus on other matters. You can take confidence in knowing that an expert has your back.
If you’re ready to ditch the stress of dealing with the IRS, look to the Highland Tax Group for guidance. Get in touch today to learn more about our tax resolution services.