There are companies out there that help in these situations much like
factoring companies, they will help with the managment of repaying taxes that
can't be paid back.
Whether is the sba loan or your tax payments, it always makes sense to be proactive. Avoiding your lender or the IRS will likely lead to larger financial conseqences as the fees and penalties accumulate. In cases when you don't have the resources to pay in full, an SBA Offer In Compromise might be a good option for you. The IRS will consider repayment plans as well.
Jason Milleisen, Founder, Distressed Loan Advisors
Lafaso870,
You need to contact the IRS. Avoiding the IRS will just lead to penalties, fees, and interest. They may be able to get you on a payment plan.
You could also speak with a SBDC or SCORE office in your area to get your business back on track.
JimD
PDLoans | Window Shopper | 8/24/2012 - 4:58 am
factoring companies, they will help with the managment of repaying taxes that
can't be paid back.
DLA | Performer | 11/4/2011 - 4:16 pm
phanio | Contributor | 10/18/2010 - 1:05 pm
JimD | Former Moderator | 10/18/2010 - 5:55 am
Join The Discussion
You must be logged in to join the discussion. If you already have an SBA Community account, Log In to join the discussion.
New users, Register for a new account and join the conversation today!