IRS CALLS OUT Tax Companies Claiming To Settle Back Tax Debt For "Pennies On The Dollar"!

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IRS CALLS OUT Tax Companies Claiming To Settle Back Tax Debt For "Pennies On The Dollar"!

I got this email newsletter from the IRS this morning, titled "Dirty Dozen: IRS urges anyone having trouble paying their taxes to avoid anyone claiming they can settle tax debt for pennies on the dollar"

I was literally OVERJOYED to see the IRS send this email, because it confirms one of the main axes I have to grind with some other companies in my industry:

This idea that there is some trick or mechanism or "Fresh Start Initiative" out there which is going to make your tax problem just go away for nothing.

Many tax companies prey on one of the basic fundamentals of human nature: to want as much as possible for the least amount of effort or expenses.

Getting your tax debt to disappear for "pennies on the dollar" definitely fits that bill!

The problem with this thinking is simple - it's not the way the IRS works at all!

Think about it logically - why would the IRS reward someone who didn't pay their taxes by making it all magically go away for "pennies on the dollar", when everyone else who complied with the law had to pay their full bill?

While there are instances where the IRS will grant huge reductions in someone's tax bill (we have helped people do this many, many times)--it is always for reasons of true and extreme personal or financial hardship.

What the IRS said today is something I have been telling people for years:

Do not look for a shortcut, a freebie, or an "easy button" out of fixing your back tax problem.

Because looking for that shortcut is what keeps us stuck. The perpetual search for a freebie distracts us from the reality of the hard work it takes to succeed.

If you are a business owner, instead of looking for a shortcut, look to take responsibility.

Ask yourself:

1.) What is the best outcome I am entitled to under law that will allow me to address my IRS balances on my own terms?

2.) How can I restructure my business, my finances, and my life, to never have a problem with the IRS?

When you adopt this mindset, you realize you can take charge of your situation. You feel empowered because you are now ready to do the hard work which will allow you to lead the life you want -- a life free of stress from the IRS, and focused on the things that matter to you the most (like growing your business and being present for your family).