If you incur a tax debt of $10,000 or more, the IRS will file a “Notice of Federal Tax Lien” or NFTL which notifies all of your other existing and potential creditors that you owe the IRS. This will make you a less credit worthy borrower and could harm your credit score if it is reported to the credit rating agencies. My firm, By The Book Taxes, located in Norwalk, CT specializes in income tax preparation for individuals, families and self-employed people. By the Book Taxes also helps clients resolve their tax debts by preparing and filing Installment Payment Agreements, Offers-in-Compromise, Currently Not Collectible and Innocent or Injured Spouse applications.
If you are a taxpayer with an existing payment agreement and can make a payment to get your balance due under $25,000, then this option could work for you.
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If you have years of unfilled tax returns or need help getting a tax debt resolved, please call me at 203-434-5626 or email me at mikeo24@bythebooktaxes.net
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