Ah, wouldn’t it be great if there were no 16 Amendment? There would be no federal income taxes, mid-April would just be a normal time of year and we wouldn’t have the IRS breathing down our backs if we missed a payment. That would be great, but that’s not the way it is right now.
As we near the tax deadline, it is a good time to think about what your immediate financial future will look like. Sure, some of us will get a refund, but many will not. Thus, some people will end up owing money to the IRS. If you have the money to pay your taxes, that is great! However, if you do not have the money to pay your taxes on time, the IRS can become an unwelcome guest in your life very quickly.
According to the IRS, they will assess penalties for late payments. This may be expected, as just about any other type of bill that you could pay would come with such provisions. If you also fail to file your taxes on time, the combination of penalties for paying late and filing late could be as high as 25 percent of the amount that you owe. So, if you owe $5,000, you could end up owing $1,250 in penalties in addition to that amount.
If things get out of control, you could end up having to deal with this matter in court. That will virtually require you to pay fees to a lawyer – unless you are feeling very lucky. Also, there have been cases where those who battled the IRS have ended up in prison – an unlikely scenario, but it is still possible.
So, what can you do to pay your taxes if you cannot afford them?
The answer to your tax problems may be sitting in your garage, driveway or wherever else you park your vehicle. You may be able to get a car title loan.
A car title loan may also be called a title loan, pink slip loan or u-drive loan. It is a loan that is based on the value of your vehicle.
To get a car title loan, you can visit a car title lender. The lender will assess the value of your vehicle and may offer you a loan based on it’s value. The loan will typically be for a percentage of the vehicle’s value. At Car Cash Loans, they may offer you a loan of up to 50 percent of your vehicle’s value and may go higher in special cases.
You will typically be able to keep your vehicle when working with a title lender. The lender will generally want to take temporary possession of the vehicle’s title, not the actual vehicle. The title will act as collateral for the loan.
At Car Cash Loans, you’ll never even have to go through a credit check. So, if you have credit problems, you don’t have to let this affect paying your taxes. You’ll typically just have to show your vehicle’s title and meet a few other requirements to be on your way to getting a loan.
It may not be fair, but Uncle Sam will probably be all over you if you ignore paying your taxes. This is one uncle that you probably don’t want to ever show up at your home.
To avoid having the IRS in your life any more than it already is, consider getting a car title loan. It will probably be a much faster, easier process than getting a traditional loan, which may not be available to you in the first place if you have credit problems or want a small loan.
So, a car title loan can be a great tool to pay your taxes and you’ll usually keep your vehicle in the process!