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Welcome to yet another tax season.

With a matter of days remaining until the April 15 IRS income tax deadline, the stress level of Americans is on the rise. Prepare yourself for more angry drivers on the freeways, impatient customers in the lines of local coffee shops and grocery stores, and friends who don’t quite treat you like the friends they were only weeks ago.

Looking for a way to cut down on the April tax time blues? There’s a little known secret called an IRS tax extension (the technical term is an IRS Form 4868 – Application for Automatic Extension of Time To File U.S. Individual Income Tax Return), and a company called FileLater who can help.

Of 130M United States federal income tax filers, about 10M filed for automated extensions last year, so you won’t be alone. And the IRS doesn’t ask (or care) why you file for an extension.

Almost every tax-paying American is automatically eligible to file an IRS tax extension, and it can be easy to do. In about 5 minutes, you can go to File Later’s website, answer a handful of relatively simple questions, and have your tax extension e-filed to the IRS for you. In a couple of days, you’ll get an email with IRS confirmation that your new tax deadline is October 15.

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What happened? You’ve filed your taxes and you’re in trouble. Maybe you filed yourself or you went to one of those companies that file your taxes for your. After finishing everything you find out you owe money!

You recheck your math and deductions once, twice, three times and…you really are in debt to the IRS! It’s understandable that you’re mad as hell or you want to start crying, but the IRS-Hitman has some advice.

Don’t panic…don’t ignore the debt, and do file the return. You can try to put off the debt by requesting an extension; October 15th is the latest you can put it off. This could give you a chance to come up with the money that you owe by then. But you do have to file, and the longer you wait the harder the debt will be to deal with.

Depending on how much you owe, you can try to deal with the IRS on your own, or you can seek professional tax help. The first thing you need to do however is to jump on the problem immediately! Do not wait.

Can I bury my head in the sand? I recommend against this. What happens if you wait? First of all the IRS starts sending you letters telling you how much you owe, and asks that you contact them to setup arrangements.

If you don’t respond to the IRS then…well, things can get real bad real fast for you. The IRS can seize your wages, seize you bank account, or any other accounts you have. They can also put a levy on your home. That’s why taking immediate action is so important.

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IRS tax debt

If you happened to be one of the unfortunate individuals to owe tax debt from your past years, or you have paid your taxes for the current year, and still expect to owe further taxes to the IRS in the form of IRS debt, it’s possible for you to find a solution to redeem your taxes.

The actual solution lies in not ignoring to pay your debt. Even though the IRS can collect the taxes up to ten years, it possesses many other powerful options to recover, and chances are it will. If you have outstanding IRS tax debt, the best possible solution is to utilize your savings, or alternatively borrow some funds to clear the debt.

By paying your entire outstanding dues, it’s possible to save upon the penalties and fines, which are likely to be levied in case you decide to avail more time and clear your taxes over a period of time.

If one borrows against some asset value such as your home, it’s quite possible the interest incurred might be tax deductible. It’s also possible to avail tax relief if you can represent your case properly to the IRS.

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