Posted: Jordan Grimmer | September 9, 2015

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Tax Relief Stats [INFOGRAPHIC]

When you owe a friend money, he can hold a grudge, take you to court, or give you a noogie until you finally pay up (of course, if it comes to such hi-jinx, you probably aren't friends anymore). When you owe money - particularly in the form of unpaid taxes - to the IRS, however, the agency can garnish your wages, place levies on your personal property, and even send you to jail. And while the IRS does allow you to set up a payment plan, this plan can sometimes take years to complete.

Thankfully, we've reviewed the top tax relief companies in the business, companies that can help minimize your tax debt. Below are some statistics that show just how important these companies can be:

Tax Relief Stats In 2014, the IRS assessed over $130 billion in penalties and interest on unpaid taxes. Consumer Tax Debt $130 billion in additional fees $114 billion in unpaid taxes 30% of tax relief customers carry at least $50,000 in tax debt. Less than $50,000 $50,000 or More The average American coudl spend anywhere from a few months to 10 years paying off tax debt. Principle 10 years Interest 70% of Americans are unaware of companies that can help minimize their tax debt burden. On average, consumers who work with a tax relief company can have their tax debt paid off in 5 months.

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Written by Jordan Grimmer

Jordan Grimmer is the head content manager, editor, and writer at bestcompany.com. He oversees all on-site content production, the bestcompany.com Medium page, as well as his own personal blog. You can follow Jordan on Twitter.

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