Paying Taxes Is Your Responsibility

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Paying Taxes Is Your Responsibility
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As a citizen, you have duties and
responsibilities that you need to do in order to
help your country one of which is paying your
taxes.
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This is mandated by law because the amount
collected from taxes is what the government will
use in order to answer the needs of the people
when it comes to education, health services,
infrastructures and more.
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However, there are people who either refuse to
pay their taxes, or they just cannot pay on time.
The Internal Revenue Service (IRS) on the other
hand imposes sanctions to those who fail to pay
their taxes. Here are some of the severe
penalties imposed by the IRS
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? Have you pay for the interest. They may let you
pay the penalty plus interest determined by
federal short term rate for a total of 4 to 6.
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? Give up your social security that you may not
able to receive insurance benefits when you
retire.
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? Seize your property through putting interest in
your assets such as your home, car, and other
properties.
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? Close down your business by having you declare
bankruptcy for not paying your taxes. However,
closing down you business is not the end of your
tax payments, because the time you open your
business again, the IRS will resume collecting
your pending taxes.
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? Put you in jail. Even if this is an unusual
penalty, this is still possible. The IRS will be
able to pursue a jail sentence to you when they
happen to know that you cheat on your taxes such
as hiding a lot of income from the them and some
evidence of wrongdoing.
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Be a Good Taxpayer
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FSI-DIY (Fresh Start Initiative-Do It Yourself)
is an application initiative from Torchbearer
Software which is made to help people overcome
the struggles of IRS debts and give them IRS tax
relief. They have a free qualifier tool to know
if you can qualify for the Fresh Start Initiative
so you can use the app. Check it out by visiting
www.fsi-diy.com.
Resolving your issues with the IRS can even be
made easier through the existing technologies we
have nowadays.