051 | How to Get Out From Under Tax Debt: Expert Advice You Need with Carlos Samaniego
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What happens when you ignore the IRS? Spoiler: It only gets worse. In this episode of the Vital Strategies Podcast, I sit down with tax resolution expert and IRS Enrolled Agent, Carlos Samaniego, to uncover the often overlooked but critical issue of unresolved tax debt. Carlos, founder of Tax Debt Consultants LLC, dives into his personal journey about ignoring the IRS and how facing his own problems head-on ultimately led him to help others in similar situations. This episode is packed with must-know insights on how to resolve major tax issues and become compliant before things spiral out of control.
Carlos walks us through the process of fixing previous mistakes, explains what the government is really looking for, and offers tips on negotiating payment plans. We discuss the dangers of ignoring tax debt—such as liens, garnishments, and increasing penalties—and the best ways to stop accumulating interest. From what to do with CP 504 letters and IRS Letter 11 to exploring offers in compromise, this episode offers actionable advice for anyone needing to get back on track with their taxes.
Key Takeaways:
- How to resolve past tax mistakes: Carlos explains the steps to fixing unfiled tax returns, becoming compliant, and what the IRS is really looking for.
- The dangers of inaction: We discuss the serious consequences of ignoring tax debt, including liens, garnishments, and compounding interest.
- Negotiating with the IRS: Learn how to set up payment plans, reduce penalties, and explore options like offers in compromise to stop the bleeding.
- Facing problems head-on: Carlos shares his personal story of avoiding the IRS and how confronting these issues can lead to long-term financial freedom.
Guest Information:
Carlos Samaniego books and contact
Resources:
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Credits:
Sponsored by Vital Wealth
Music by Cephas
Audio, video, and show notes produced by Two Tone Creative
Research and copywriting by Victoria O'Brien
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