Tax season is in full swing. And while most filers will likely receive refunds this year, there will undoubtedly be a percentage of filers who owe money to the IRS. But even if you expect to owe more money to the IRS than you can afford to pay, it’s still worth filing your tax return on time to avoid additional penalties. 

Then again, being unable to afford your tax debt is a stressful position to be in. While the IRS may be willing to set up a payment plan for you, there are times when it’s wise to seek additional relief by way of a tax relief service. Below, we’ll break down three of the best times to consider this type of service.

Don’t risk garnishments and further actions. Contact a tax relief pro today. 

3 best times to consider tax relief

“Tax debt relief services negotiate a settlement with the IRS for payment of the debt, typically for less than the full amount that is owed,” explains Paul T. Joseph, attorney, CPA and founder of Joseph & Joseph Tax & Payroll, a tax and accounting firm. “Needless to say, a tax obligation that is unpaid can be a tremendous burden on an individual.” 

So, when should you reach out for help? Here are three of the best times to consider tax relief:  

When you’re experiencing a financial hardship

Financial hardship happens, and it’s often sudden. Maybe you recently lost your job, were injured or got diagnosed with a condition that makes it impossible to perform your daily duties at work. As a result, you may be unable to meet your financial obligations, including making your tax debt payments on time. 

Unfortunately, missing your payments typically comes with penalties. But a tax relief company may be able to help. Even if you’ve already missed payments, a tax relief service may be able to help you get your late fees and other penalties waived. 

Let a tax relief expert help you navigate the IRS’s financial hardship options now. 

When you’re making sacrifices to pay your tax debt payments

Making sacrifices to cover your tax debt payments may be familiar. Then again, when those sacrifices get extreme, it’s likely time to reach out to a tax relief professional. For example, you may have neglected necessary home or auto repairs or have skipped multiple payments on loans or credit cards in order to deal with your existing tax debts. If that’s the case, you should strongly consider seeking tax relief.  

When you’re in danger of wage garnishment

The IRS doesn’t need to go through the court system to garnish your wages. It can do so you fall too far behind on your tax debt. If it does, wage garnishments typically remain in effect until you pay your past-due amount, make arrangements to pay your past-due amount or the levy associated with your wage garnishment is otherwise released, according to the IRS.

If you’ve missed multiple installment agreement payments, or you haven’t addressed your tax debt at all, you could be in danger of wage garnishments. If that’s the case, it’s likely wise to look into your tax relief options as these services can typically alleviate garnishment risks.

It’s also worth noting that if your wages are already being garnished, it’s not too late to get help. The best tax relief services may be able to put an end to your garnishments while helping you come to an affordable payment arrangement with the IRS.    

The bottom line

Tax debt can be scary. “If taxes aren’t paid, the IRS will start with notices in the mail,” says Joseph. If notices go unchecked, the IRS may take further action. “This may include seizure of your assets, putting liens on your property, etc,” says Joseph. But you may be able to avoid these repercussions by working with a tax relief service. 

If you’re experiencing financial hardship, making significant sacrifices in an attempt to pay your tax debt or you’re in danger of wage garnishment, reach out to a tax relief expert today. 

Joshua Rodriguez

Joshua Rodriguez is a personal finance and investing writer with a passion for his craft. When he’s not working, he enjoys time with his wife, two kids, two dogs and two ducks.