Xanax is a schedule class IV (4) controlled substance that is prescribed to treat panic attacks, nervousness, tension and depression. The drug Xanax has been in circulation for many years as a tranquilizer, and is very effective for what it is prescribed to treat, doctors have learned to be very cautious when prescribing this drug (alprazolam) Xanax, as it has a history of addiction and abuse. Because Xanax is often used to treat long term problems, Xanax addiction has become a very common addiction and has contributed to a large percentage of the prescription drug abuse problem in this country.