Rescue Capital Provides Freedom from the Tax Man with Cash for Structured Settlement Annuity Payments

Philadelphia based specialty finance firm Rescue Capital announced today their new IRS Freedom Program. The program is designed to help annuitants avoid penalties, fees and other charges that can occur when you owe the IRS money. End Quote

Philadelphia, PA-NJ (1888PressRelease) May 27, 2011 - If a person owes, for example, $10,000 to the IRS, they would pay an interest rate of at least 5% on a 36 month payment plan. There is also a failure to pay penalty that can be as high as 1% per month. This translates to well over $2,200 more than was originally owed. Since these rates are subject to change quarterly you could face higher rates in the future. In addition, if you delay filing your return and taxes are owed you may receive penalty and interest charges that could increase your tax bill by 25% or more. Furthermore, any property or assets could be subject to liens or levies against them until the taxes are paid off. If no attempt at payment has been made, the IRS can sell your assets or garnish your wages.1

Therefore, now is the time to look at new ways to remove that debt. An option that should not be overlooked is selling all or part of your future payments for cash on the secondary market.

According to John Zepeda, Vice President of Rescue Capital, "With the economic downturn we are seeing many people who owe taxes as well as other debts and are not sure how they are going to pay them. By selling their illiquid assets they are able to get the cash they need to pay their debts and avoid additional penalties."

While there are a variety of reasons why someone may choose to sell their payments, Rescue Capital realizes that sometimes selling all your payments is not an option. This is why they tailor all their programs to the needs of the seller.

"I was completely unprepared to owe as much money as I did. If it wasn't for Rescue Capital I don't know what I would have done", said Rescue Capital customer Angela Vito of Newark, DE.

While these types of transactions must be court approved in order to determine whether or not the deal is in the best interest of the seller, the seller should still do their homework when it comes time to sell. Using a reputable company, such as Rescue Capital, with an A+ Rating with the Better Business Bureau is an excellent start. Also making sure that there are no complaints with your state's attorney general's office is important too. Lastly, it is important to go with a company you can trust and will be by your side throughout the process.

A structured settlement is a financial arrangement that allows court-awarded compensation to be paid in regular installments rather than in one lump sum. Typically these payments provide money for a fixed period or lifetime.

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