This couple is working the debt snowball, where should the IRS be in the line up?
QUESTION: George and his wife are working on their debt snowball. They have an IRS debt from 2000. They have a payment plan right now with the government, but it’s way down on the debt snowball list. His wife is afraid of not paying the IRS first because they could seriously mess with their finances. Should they pay off the government first?
ANSWER: You should get the government off your back first, especially since your other debts are so large. It will take you a while to get to the IRS and it would be better to have them out of your life.