Recent financial challenges have left many families experiencing periods of monetary strain and some may still be working to recover and rebuild this aspect of their lives. While sources of debt can take on numerous forms, overdue taxes are a type of issue that remains a concern for many. Individuals in Georgia who carry past due tax debts may have previously benefited from leniencies in IRS collection efforts, but reports indicate that this is about to change.
Recent reports
Recent reports indicate that the IRS implemented measures to limit collection efforts in March of 2020. Nearly two years later, the IRS took things a step further by suspending collection notifications. While these efforts were intended to provide those with past-due tax debts with relief during difficult financial times, experts state that these measures will no longer be in place come May of 2023.
Reports state that the IRS is preparing to recommence collection efforts for overdue tax debts. For those who have benefited from the leniency of previous measures, facing this possibility may seem a daunting concept. However, these changes do not have to spell doom for one’s financial situation, and seeking advice on the options with which to seek relief from tax debt concerns may be vital to preparing to safeguard one’s future.
Exploring the options
News of coming changes to IRS collection efforts may leave many individuals in search of advice on their available options for tax debt relief. When facing similar concerns, individuals in Georgia might benefit from consulting with legal counsel for guidance in addressing their financial situations. An attorney can provide a client with insight into all the available options for relief and assist in choosing an outlet that is in line with his or her interests and needs.