It's a story that no one wants to hear. Delinquent payments, phone calls from the IRS, and the gnawing worry that the hole you're in is only going to grow deeper. It's a situation that, as of 2017, about 858,000 American taxpayers have had the misfortune of dealing with.

The consequences of tax debt can be severe. We explain some of the more serious side effects of tax debt, and what an up-and-coming tax relief corporation can do to help you.

The Gradual Increase in Severity

So, what happens when you ignore those phone calls? Well, in addition to those IRS notices, the agency will put you into automated collection, and then begin to target your income. The reach of the IRS is wide, as the organization can take your tax refund and charge you penalties. If this doesn't affect you, then the IRS can file a federal tax lien that alerts creditors about your tax debt. This public filing will negatively impact your access to credit and your overall credit score.

As the situation worsens, the IRS can also levy your assets. The IRS usually seizes money, but they do have the capability to seize properties. Other levies include the IRS taking wages out of your income or an account receivable levy, which the IRS would take from your small business or your income as an independent contractor. They can even levy money directly from your bank account.

The IRS can also give your case to a private debt collector. Then the constant phone calls will no longer be with the IRS - they'll be with strangers, and most likely more numerous.

The Effect on Mental Health

While the physical consequences of debt can be measured, what can't be measured is the mental toll it takes on the debtor and loved ones. Research has unequivocally linked debt to mental illness. Worrying about debt causes stress, which can lead to mental health problems.

Mental health issues can also decrease self-control and lead to even greater spending, which compounds the problem. Anyone who has had tax debt or is currently facing tax debt knows of the stress, fear, anger, and helplessness associated with it. These jarring emotional responses can compromise relationships with loved ones and cause undue strain.

A Tax Debt Relief Solution

Fortunately, there is help available from tax relief companies that prioritize your well-being and understand the consequences of debt.

TaxRise is one of them. Using a two-phase approach, they assess the unique problems associated with each client, then provide precise, compassionate guidance.

TaxRise focuses on solutions based on a solid mastery of automation and data collection technology. However, what really makes TaxRise shine is its focus on the individual. As part of that commitment, TaxRise stands behind its work with a range of comprehensive guarantees. This is in addition to its free consultation for new customers. TaxRise is so confident they can improve  your situation that they will provide a full refund if the IRS does not agree to enroll you in a tax resolution program.