And it better be worth the aggravation that you can get.
Taxpayers should pay the taxes they owe in full after they get a bill.
If you don't pay up and don't make some effort to do so, the IRS can ask you to do something to pay the tax money owed.
You at first might be asked to sell assets, take a mortgage or take out a loan.
If you aren't making an effort to come up with the dough or make some payment arrangements, the IRS could start to get more adamant and start enforcing collection.
They can levy your money in bank accounts, get control of your wages, and come to take assets.
Imagine some IRS guy seizing your boat or riding off on that brand new motorcycle, or worse. (No! No! Take my wife, Please)
If a Notice of Federal Tax Lien is filed, it most likely would affect your credit.
There are tax attorneys that can be of great assistance and get you into a deal with the IRS.
If the IRS thinks you are being sneaky and fraudulent, you could end up in federal prison.
You wouldn't like that very much.
Federal prisons are lacking in golf courses, gentlemen's clubs, boating programs and nightclubs.
A lot of people break out in a nervous sweat and get the shakes when it comes time to file their taxes.
The first time that I tried to file by myself left me with a feeling of confusion because I did not bother to read any information about how to go about it in a fair way, a way that didn't leave me broke and living in a cardboard box in the alley.
I just had at it without reading anything and it was overwhelming. I assure you that after all these years I won't get into a difficult situation like that without any proper info and good forms to file.
Some folks just file as fast as they can to get it over with. They loose out on a bunch of legitimate deductions and allocations that could have saved them a ton of money at tax time.
I would rather be getting a nice tax refund than pay the IRS a lot of money. Pay attention to the details.