Caution: What you say to the IRS could come back to bite you in the assets
Everyone has heard the expression, “never say never.” However there is one instance where you’ll want to throw that expression out. If you have challenges with the IRS, there truly are things you NEVER want to say. If you don’t immediately say, “I am retaining the services of a lawyer”, at least remember a few things you never want to say. Because what you do say to the IRS can come back to bite you where it really hurts: In the assets. First: Remember no one is immune to IRS troubles. Being at odds with the IRS is one of the things in life everyone goes to great lengths to avoid. Unfortunately it happens – and far more frequently than the average person might expect. People from every socio-economic group find themselves owing money to the IRS. It happens to people you know are decent and responsible and to those you might judge as being less than exemplary. Rich and poor alike make mistakes that can land them owing back taxes. No one is immune. If you find yourself faced with IRS problems, do not despair. While we’ve all heard horror stories about people whose lives have been ruined by federal tax issues, if you can keep your wits about you and remember a few things from the start, you can avoid devastating consequences. Always: Think “never” when dealing with the IRS Never volunteer any information freely. Unless the IRS representative specifically asks for information do not under any circumstances volunteer what you think may be useful. If you find yourself in conversation on the phone or in person with an IRS representative do not be fooled by friendly demeanor and think that you have found an understanding ear. This is how many people get themselves into deeper troubles and the IRS counts on this. You have the right to say nothing and you have the right to retain an attorney. Never lie: Telling the IRS something that is not true is perjury. Perjury is a crime that could lead you to jail time. The IRS becomes suspect of anyone who lies and is not inclined to cooperate. Never answer a question that you do not understand. Be polite and respectful and remember that you have the right to say nothing. Never threaten: Stay calm, do not panic, and by all means do not say anything threatening to an IRS agent. No matter how angry you are, especially if it is an IRS mistake, it is always better to say nothing at all than to say something that can lead to even worse consequences. Never invite: Do not invite the IRS to come to your home or office to look at your books or to discuss matters. If an IRS agent arrives at your door, you will want to retain the services of an attorney immediately. Never make promises: you can’t keep. For instance, monthly payment amounts. If you miss a payment you may miss out on future leniency. Preventing yourself from losing the things you value most – your marriage, family, business, as well as whatever financial resources you may have– is what you want to keep in mind when dealing with the IRS. So start by acquiring one of the greatest assets you can have in this situation. Hire an exceptional tax attorney.