Truck drivers take on a lot of responsibility, from delivering time sensitive loads to making sure their loved ones at home are cared for and fed. Drivers need to eliminate stress, not increase their stress. Being worried about the IRS and past due taxes is something a driver can eliminate with just a little knowledge and the right people helping you.
Is the IRS keeping you up at night? Unfortunately, the longer a person avoids the IRS, the worse it gets and you can’t file bankruptcy to get out of IRS debt like other debts. Often just learning about how the IRS
| “The hardest thing in the world to understand is the income tax”
- Albert Einstein
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deals with unpaid taxes helps drivers understand their options.
The following key points will shed some light on the IRS and a truck driver’s options:
1. Know the IRS. The Internal Revenue Service is usually thought of as scary and hard to deal with - drivers dread making a call to the IRS. Ultimately,
not communicating with the IRS results in a more difficult situation that leads to owing more money. Here is the phone number for the IRS when you are ready, (800) 829-1040. If you don’t want to call but want to get some resolution today, call a business service provider that specializes in the trucking industry like
ATBS. A brief, 10 minute consultation with an IRS Resolution specialist may give you options and a fast solution.
2. File your taxes. Failing to file a tax return should never be an option. Not filing taxes in a timely manner means the IRS can file on your behalf. If you are thinking this is a good thing, think again! The IRS will file a Substitute for Return (SFR) on your behalf. If the IRS prepares the SFR, it will not include any exemptions or expenses that you may be entitled to -- leaving you with a tax return that was filed with the maximum amount of income tax due and no deductions. THIS PROCESS CAN QUICKLY LEAD TO WAGE GARNISHMENTS OR EVEN SEIZURE OF YOUR ASSETS.
3. If you can, pay as soon as possible. With compounding daily interest it doesn’t pay to wait a day longer. If you have the money, pay the IRS as soon as possible. If you can pay over a period of time, consider an Installment Agreement. An Installment Agreement with the IRS prevents negative collection activities such as wage and/or bank levy. As long as the IRS gets something, you can rest assure they will not track you down.
4. Negotiating an Offer in Compromise. Some individuals or families can’t afford a monthly payment and may never be able to pay an IRS debt in full -- even over a period of time. If this is the case, you may qualify for an Offer in Compromise. An Offer in Compromise (OIC) is a negotiation package that the IRS utilizes to settle your debt for less than the full amount owed. An OIC is reviewed and based solely on your ability to pay. If you have very little in the way of assets and minimal monthly disposable income, you could be a candidate for an OIC.
The most important thing to remember is don't wait! Call a Tax Resolution Business Service provider or the IRS today so you can rest tonight knowing all IRS issues will soon be resolved!
ATBS knows the struggles that drivers face when dealing with the IRS. Their Tax Resolution team assists drivers every day with these issues. ATBS negotiates on the driver’s behalf and their clients give their tax services a 95% satisfaction rating. Click here for more information on their Tax Resoltion Services or call (866) 431-2439 today!