What the IRS Can Consider when Deciding What You Should Pay Back

There are some things that the IRS just isn’t going to care about when it comes time for you to pay any back taxes, interest, and penalties that you owe the agency. IRS agents might not care, for example, that you are planning to start a new Oklahoma business that will generate jobs and tax revenue. They may be unsympathetic to your desire to pay for your child’s upcoming wedding or to your spouse’s desire to stay in the home where your kids go to school. However, there are some things that the IRS will consider when determining how much you need to pay and how quickly you need to pay it.

3 Things That Still Matter to the IRS

The IRS doesn’t care about your personal goals or the hardships that might come with paying a large tax bill because the agency believes that you should have already paid the money and that it is simply overdue. However, there are certain types of debt that the IRS may consider when it is determining how much you will be required to pay and how quickly you will be required to pay it. Specifically, the IRS may consider:

  1. Your local and state tax debt.
  2. Your credit card debt.
  3. Your student loan debt.

While these other debts may not cause your total tax debt to go down, it could affect how you repay your federal tax debt.

Call an Oklahoma City Tax Attorney for Help If You Owe Federal Taxes

If you owe money to the federal government, or to the Oklahoma state government, then you may need help. You need to understand your rights and how to negotiate a fair settlement to your tax problems. For more information, please contact an experienced Oklahoma City tax lawyer today at 800-721-7054, and please read our FREE book, The Ultimate Survival Guide for IRS Problems.