Financing Tax Debts
If you have a tax debt that you are concerned about or unable to pay then this page was written for you.
Here are some ways in which the debt can be dealt with:
- Do nothing; this is probably not a good idea, various government agencies will eventually file a judgment against you and may even force the sale of assets. There are also a variety of legal mechanisms whereby corporate or other tax debts can be assigned to you personally.
- Negotiate a payment plan with the government agency; taxation authorities charge interest daily, comparable to a credit card
- Payoff the tax debt completely by taking out a structures loan from a third party; this could be as simple as a line of credit. This is the simplest example of a structured loan, but there are other types of structure that may be more beneficial to you.
