What Happens When You Owe $100,000 to the IRS?
Summary: Owing $100,000+ in taxes triggers penalties, interest, liens, levies, and possibly passport restrictions. IRS penalties and interest can escalate quickly, increasing debt significantly if left unpaid. Resolution options include Installment Agreements, Offers in Compromise, Partial Payment Installment Agreements, Penalty Abatement, and Currently Not Collectible status. Ignoring debt increases risks to assets, credit score, and
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