As we settle into October, it's worth looking back at something significant that happened last month: the IRS and the State of Oklahoma decided it was time to get serious about tax collections again. If you were caught off guard in September, you're not alone.

The tax collectors are back in action, which is something we all need to keep in mind.

What happened in September?

Remember when the IRS and Oklahoma state tax authorities hit pause on collections during the pandemic? They gave us all a bit of breathing room—no scary letters, no collection notices, and no one knocking on your door about unpaid taxes. It was like an unspoken agreement to not worry too much about those tax debts for a while.

But last month, that all changed. The IRS and Oklahoma decided it was time to get back to business, and they're not messing around. September marked the end of that peaceful break, with collection notices starting to pop up in mailboxes again. They've even brought in third-party agencies to help with the process. It's like they flipped a switch, and suddenly, tax debts that had been easy to ignore are now front and center again.

The nasty surprise: penalties and interest

One of the most challenging pills to swallow in all this is that while the IRS and the state took a break, penalties and interest didn't. If you had an outstanding balance before, it's probably grown since then. Thanks to those pesky penalties and interest charges that kept piling up, September was a wake-up call for many—realizing that the amount they owe is now larger than before.

What now?

So, where does that leave us in October? If you've got any unpaid taxes, it's time to face the music. The relaxed approach we all got used to during the pandemic is over. The IRS and Oklahoma are back on the hunt, and ignoring the situation will only make it worse.

But don't panic. Now is the perfect time to make a plan. Whether setting up a payment arrangement, talking to a tax professional, or just getting a clear picture of what you owe, taking action now can save you a lot of stress—and money—down the road.

Moving forward

Let's be honest; dealing with taxes is never fun. But now that the IRS and Oklahoma have officially hit the "resume" button on collections, it's more important than ever to tackle any lingering tax issues head-on. The break is over; the sooner you address it, the better off you'll be.

So, as we move further into the fall, take a moment to think back to September and what it meant for your finances. If you've got some tax debt hanging over your head, now's the time to make a move. You'll thank yourself later for getting ahead of it before the situation gets even more complicated.