IRS Debt After Retirement - Don"t Let Your Golden Years Be Tarnished - Part 1
Sit back and relax...
You've spent your entire life working.
Now that you're in your golden years you're ready for a well deserved retirement.
Maybe you want to take a trip, or spend time with your grandkids.
Maybe you just want to start a garden.
But the IRS may have other ideas regarding this time of your life.
Wolves at your door...
Unfortunately the elderly offer a great deal of opportunities for the IRS to work their collection magic on.
There are retirement funds and pensions to tax.
There are property taxes to deal with.
Even claiming your grandchildren as dependants can get you into trouble.
And what's worse is that many of you may be on a fixed income.
So what can you do if you're a senior citizen and the IRS has decided to collect? Let me tell you what the IRS can do to you, and then I'll let you know what you can do about them.
Give us your poor and your tired...
If you have a tax debt you're not safe from IRS collection actions even if your only source of income is social security.
The IRS can actually garnish up to 15% of your social security income.
Not only that, they can still seize your assets.
The IRS only has to leave you with the most basic living amenities when they seize property.
Everything else you have is fair game.
And IRS agents don't even care if what they're seizing is worth anything.
They'll seize it anyway.
Home sweet home...
Let's say you own your home.
It's taken you a lifetime to pay off the mortgage on it and have the deed free and clear.
You were even planning on making some improvements.
But the IRS has put a lien on your property.
Now you can't get the city permits required to make renovations on your property.
Or maybe you had a piece of property that you were going to build your retirement home on.
Because of that lien, now you can't.
And the IRS won't lift it until they get their money.
Family ties...
During my days with the IRS one of the things I learned is that you can't trust family.
Yes that's horrible, but I saw sons and daughters do far worse to their parents than anything I had ever done as an IRS-Hitman.
Some of you may be taking care of your grandchildren because your own kids messed up.
Since you're on a fixed income that child tax credit goes a long way to helping you make sure your grandchildren have the lives they deserve.
But I've seen grandparents get audited because their own offspring wouldn't cooperate with the IRS.
It does get better...
That is a long and depressing list of things that can affect the elderly, but I've got a few tricks up my sleeve, because when I retire from helping those with tax debt I want to be free and clear just like everyone else.
Read part 2 to get the smoking gun.
You've spent your entire life working.
Now that you're in your golden years you're ready for a well deserved retirement.
Maybe you want to take a trip, or spend time with your grandkids.
Maybe you just want to start a garden.
But the IRS may have other ideas regarding this time of your life.
Wolves at your door...
Unfortunately the elderly offer a great deal of opportunities for the IRS to work their collection magic on.
There are retirement funds and pensions to tax.
There are property taxes to deal with.
Even claiming your grandchildren as dependants can get you into trouble.
And what's worse is that many of you may be on a fixed income.
So what can you do if you're a senior citizen and the IRS has decided to collect? Let me tell you what the IRS can do to you, and then I'll let you know what you can do about them.
Give us your poor and your tired...
If you have a tax debt you're not safe from IRS collection actions even if your only source of income is social security.
The IRS can actually garnish up to 15% of your social security income.
Not only that, they can still seize your assets.
The IRS only has to leave you with the most basic living amenities when they seize property.
Everything else you have is fair game.
And IRS agents don't even care if what they're seizing is worth anything.
They'll seize it anyway.
Home sweet home...
Let's say you own your home.
It's taken you a lifetime to pay off the mortgage on it and have the deed free and clear.
You were even planning on making some improvements.
But the IRS has put a lien on your property.
Now you can't get the city permits required to make renovations on your property.
Or maybe you had a piece of property that you were going to build your retirement home on.
Because of that lien, now you can't.
And the IRS won't lift it until they get their money.
Family ties...
During my days with the IRS one of the things I learned is that you can't trust family.
Yes that's horrible, but I saw sons and daughters do far worse to their parents than anything I had ever done as an IRS-Hitman.
Some of you may be taking care of your grandchildren because your own kids messed up.
Since you're on a fixed income that child tax credit goes a long way to helping you make sure your grandchildren have the lives they deserve.
But I've seen grandparents get audited because their own offspring wouldn't cooperate with the IRS.
It does get better...
That is a long and depressing list of things that can affect the elderly, but I've got a few tricks up my sleeve, because when I retire from helping those with tax debt I want to be free and clear just like everyone else.
Read part 2 to get the smoking gun.
