Don't be blase about Tax Debt
When it comes to paying bills, we often tend to be blase and put our financial responsibilities into the too hard basket.
Ignoring debt is the easy option at the time, but eventually things catch up with you!
When it comes to paying tax, it is even more important to stay on top of your obligations to avoid potential tax debt.
"So what happens if I do get behind ?"
You should try to avoid getting to this point, but it is likely the IRD will contact you if you miss your payments.
In most scenarios, tax debt will result in the following charges:
Late filing penalties and interest
Late payment penalties
Non-payment penalties
If you do receive a letter from the IRD, it pays to act quickly. There may be a variety of payback options available to you. If you want to know more, call us and we can work with you to get back "in the black".
