Tax debt is given different treatment in bankruptcy than certain other types of consumer debt, like credit card debt. As such, tax debt relief may take different forms than standard debt settlement does. This does not mean you don't have options- you do. In fact, you need to explore your options if you cannot pay your taxes back, since the IRS collections process can involve the garnishment of your wages, or placing levies or liens on property you own. To avoid these consequences, there are a few things you want to consider once you discover you are unable to pay your taxes:
You may also have other options depending on how old the tax debt is, and whether it is federal or state and based on income or property tax. To determine what your options are based on your specific situation, you should strongly consider speaking with an experienced tax attorney for assistance and advice.