Borrow Money to Pay Your Taxes

Borrow Money to Pay Your Taxes

"Nothing in life is certain but death and taxes." Unfortunately, this famous quote from Benjamin Franklin still rings true today. Paying taxes is inevitable; it is something that almost every human being must do. It is practically impossible to avoid paying taxes. The IRS has access to your funds and assets. They will come after you until they collect their cash.

If you are struggling to pay your taxes on time, it is worthwhile to explore your loan options. While the government does have payment options, sometimes the paperwork is more of a hassle if your tax bill isn't too large, but large enough you don't have the cash to cover it. You can work with a lender to borrow the money you need. By taking out a loan to pay your taxes, you can avoid the wrath of the IRS.

Avoid Penalties and Interest on Your Taxes with a Loan

Taking out a loan will give you great flexibility. You will be able to work out a plan that coincides with your financial schedule. If you are delinquent in paying your taxes, not only will you have to pay a large amount of interest, but you will also need to pay additional penalties. These penalties will start immediately after payment is due. It is essential to address this issue before things become unmanageable.

There are many different loans to choose from. It is of great importance that you find the one that best fits your needs.

  • Bank loan- This is the most basic loan. You can go to your local bank and complete an application. Your borrowing eligibility will be based on your credit score and other factors. However, given the current economic landscape, it can be difficult to be approved.
  • Payday loans- A payday loan is a cash advance on your paycheck. Unfortunately, this type of loan can only be obtained in small amounts and must be settled on your next payday.
  • Car title loan- A title loan is a loan based on the value of your vehicle. You borrow against your car title, so you can be approved with bad credit. Although you are putting up your car as collateral, this loan can be very effective if you make your payments on time.

Any option you choose will give you the freedom to settle your debt with the government. If you think you might have problems paying your taxes, you can take out a title loan quickly and pay the government what you owe.

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PremiumLoans may act as the broker for the loan, and may not be the direct lender.
All loan applications are subject to meeting our credit criteria, which includes providing acceptable property as collateral. Consumers need to demonstrate ability to repay the loan.
Loans made or arranged pursuant to a California Finance Lenders Law License.

PremiumLoans is located at 1276 E Colorado Blvd #208, Pasadena, CA 91106