by Fresh Start Tax | Nov 7, 2018 | Tax Help
If you know what you’re doing you can get immediate releases of an IRS bank or wage garnishment levy.
Call today and we can walk you through the process.
We worked at a local South Florida IRS offices.
As a former IRS agent I literally issued thousands of IRS bank and wage garnishment levy notices therefore I know the system and the methodologies inside and out to get immediate releases of the wage garnishment and bank levies there is a very specific process.
I have signed so many bank and wage garnishment levies that felt many times like my hand would fall off. Some days I issued 50 notices to levy.
However, now I’m on your side and I can stop the process.
Not only can we get your IRS wage garnishment or bank levy release we can settle your case at the same time.
One call to our office and you will understand the process of how to get an immediate release of a wage or bank levy garnishment.
It is all a matter of knowing the system.
As a former IRS agent and teaching instructor many taxpayers receive a nasty gram from Internal Revenue Service, they find out that the IRS has either sent out a tax levy
There is never a good time but it always seems to happen at the worst times, always.
The best thing you could possibly do is talk to a professional tax firm that can go over the various options that you have.
It is important that you understand the system and to know that a bank levy garnishment or a wage garnishment is not going to go away until Internal Revenue Service is contacted.
IRS sent the bank levy or the wage garnishment levy because taxpayers have failed to contact them. Sadly, many taxpayers have never received prior bills or notices because they moved and the notices never found their way to be opened.
Before IRS may issue a bank levy is required to send out the following notices. There are absolutely no exceptions.
IRS sends out a series of 4 to 6 letters depending on the case, the dollar amount, the type of delinquency and have formally requested demand for payment on the back taxes.
If the Internal Revenue Service received no correspondence or no call the Internal Revenue Service through their computerized system will issue a bank levy or wage garnishment notice.
IRS cannot levy until it sends out required notices, they are as follows:
Required Notices for IRS :
Before property can be levied, the taxpayer must be given a,
• Notice and demand,
• Notice of intent to levy, and
• Notice of a right to a Collection Due Process (CDP) hearing
.
After these notices have been sent out to the IRS computerized system that allows IRS to take the next step to formally issue a bank levy or wage garnishment notice.
The Internal Revenue Service keeps all W-2s, 1099s, and all third-party income sources on a computer in which they draw upon to issue IRS bank levies or wage garnishments. The Internal Revenue Service keeps his income source list for six years.
So, now the ball is put in your court, you are not going to receive another paycheck and IRS has just frozen your bank account for 21 days so what is the next step.
The Internal Revenue Service will be waiting for you to contact them and give them information so they can literally close your case off the IRS enforcement computer.
What IRS is waiting before they can release a bank or wage garnishment:
Please keep in mind that you can get an IRS wage or bank levy garnishment released usually within 24 hours of contact the Internal Revenue Service with all required documentation. You must know the system, as you know snow the phone numbers to call, and it helps if you know the exact time the call the Internal Revenue Service. Also very important you must keep a fax number to let IRS know who the releases to be sent to.
The Internal Revenue Service does not wish to take your money from a bank account work take your wages it only does so because taxpayers have not complied with federal and government regulations. It is used as a last resort and only because taxpayers have failed to contact the IRS because of the tax debt.
The IRS has certain procedures through their internal revenue manual that dictates what the next step will be systems before they will release a bank or wage garnishment notice.
They are as follows:
1.IRS will completely review your current financial statement,
2.IRS knows all your tax returns are filed, and after this is done,
3. IRS is willing to close your case off of the IRS enforcement computer and issue a notice of release of the wage or bank levy garnishment.
What You Should Do NOW:
It is in your best interest to contact a professional tax firm to set up a current tax strategy and exit strategy and to develop a plan to get your levy and wage garnishment immediate released.
The Internal Revenue Service will review your financial statement on form 433 a or 433F before they will make a determination on your case. It is their primary document they use to handle all open IRS collection cases.
The financial statement is the key. That is the single most important document that IRS looking for.
The filling out, the completion, and the sending out to Internal Revenue Service is the key to not only getting an immediate release of a bank levy or wage garnishment notice but settling and closing your case.
The Internal Revenue Service will make sure all documentation is received to make sure the correctness and accuracy of the financial statement.
IRS will also require for verification:
1. The last 3 to 6 months bank statements,
2 copies of pay stubs,
3. copies of all bills for the last 3 to 6 months, and,
4. more importantly they will evaluate your current living expenses to that against the national, regional and local standards.
IRS will evaluate your house and utility expenses, your car expenses, your medical expenses, and any monthly bills that you have.
This is general information,ecially if you have a business, or schedule C.
All bills in expenses must be within the IRS current standards to be acceptable to the Internal Revenue Service.
The bottom line, IRS will review your current financial statement and usually make one of three determinations on how they will close your case off the enforcement computer and at the same time issue a release of bank levy or a wage garnishment notice.
How IRS may close Your case:
Upon IRS receiving all the documentation on the financial statement IRS may determine to put you in:
1. a currently non-collectible hardship status,
2. ask you to enter into a monthly installment payment or,
3. maybe encourage you to file an offer in compromise because you meet certain qualifications to settle your tax debt to the offer in compromise program.
Call us today for a free initial tax consultation we will walk you through the process of getting an immediate release on your wage or bank levy garnishment. Please come by to visit our offices, call us by Skype, or call us for initial free phone consultation.
As a general within 24 hours of receiving your current financial statement we can get an IRS wage or bank levy garnishment released immediately.
How Long Does It Take to Remove a IRS Bank Levy or Wage Garnishment, Former Agent Speaks + Ft. Lauderdale, Miami, Pompano Beach, Boca Raton, Palm Beaches
by Fresh Start Tax | Nov 6, 2018 | Tax Help
Call our firm, composed of former IRS agents, managers and teaching instructors. Levy Releases Now!
Call today and we can walk you through the process. We worked at a local South Florida offices.
As a former IRS agent I literally issued thousands of IRS bank and wage garnishment levy notices therefore I know the system and the methodologies inside and out to get immediate releases of the wage garnishment and bank levies there is a very specific process.
I have signed so many bank and wage garnishment levies that felt many times like my hand would fall off. Some days I issued 50 notices to levy. However, now I’m on your side and I can stop the process.
Not only can we get your IRS wage garnishment or bank levy release we can settle your case at the same time.
One call to our office and you will understand the process of how to get an immediate release of a wage or bank levy garnishment.
It is all a matter of knowing the system.
As a former IRS agent and teaching instructor many taxpayers receive a nasty gram from Internal Revenue Service, they find out that the IRS has either sent out a tax levy
There is never a good time but it always seems to happen at the worst times, always.
The best thing you could possibly do is talk to a professional tax firm that can go over the various options that you have.
It is important that you understand the system and to know that a bank levy garnishment or a wage garnishment is not going to go away until Internal Revenue Service is contacted.
IRS sent the bank levy or the wage garnishment levy because taxpayers have failed to contact them. Sadly, many taxpayers have never received prior bills or notices because they moved and the notices never found their way to be opened.
Before IRS may issue a bank levy is required to send out the following notices. There are absolutely no exceptions.
IRS sends out a series of 4 to 6 letters depending on the case, the dollar amount, the type of delinquency and have formally requested demand for payment on the back taxes.
If the Internal Revenue Service received no correspondence or no call the Internal Revenue Service through their computerized system will issue a bank levy or wage garnishment notice.
IRS cannot levy until it sends out required notices, they are as follows:
Required Notices for IRS :
Before property can be levied, the taxpayer must be given a,
• Notice and demand,
• Notice of intent to levy, and
• Notice of a right to a Collection Due Process (CDP) hearing
.
After these notices have been sent out to the IRS computerized system that allows IRS to take the next step to formally issue a bank levy or wage garnishment notice.
The Internal Revenue Service keeps all W-2s, 1099s, and all third-party income sources on a computer in which they draw upon to issue IRS bank levies or wage garnishments. The Internal Revenue Service keeps his income source list for six years.
So, now the ball is put in your court, you are not going to receive another paycheck and IRS has just frozen your bank account for 21 days so what is the next step.
The Internal Revenue Service will be waiting for you to contact them and give them information so they can literally close your case off the IRS enforcement computer.
What IRS is waiting before they can release a bank or wage garnishment:
Please keep in mind that you can get an IRS wage or bank levy garnishment released usually within 24 hours of contact the Internal Revenue Service with all required documentation. You must know the system, as you know snow the phone numbers to call, and it helps if you know the exact time the call the Internal Revenue Service. Also very important you must keep a fax number to let IRS know who the releases to be sent to.
The Internal Revenue Service does not wish to take your money from a bank account work take your wages it only does so because taxpayers have not complied with federal and government regulations. It is used as a last resort and only because taxpayers have failed to contact the IRS because of the tax debt.
The IRS has certain procedures through their internal revenue manual that dictates what the next step will be systems before they will release a bank or wage garnishment notice.
They are as follows:
1.IRS will completely review your current financial statement,
2.IRS knows all your tax returns are filed, and after this is done,
3. IRS is willing to close your case off of the IRS enforcement computer and issue a notice of release of the wage or bank levy garnishment.
What You Should Do NOW:
It is in your best interest to contact a professional tax firm to set up a current tax strategy and exit strategy and to develop a plan to get your levy and wage garnishment immediate released.
The Internal Revenue Service will review your financial statement on form 433 a or 433F before they will make a determination on your case. It is their primary document they use to handle all open IRS collection cases.
The financial statement is the key. That is the single most important document that IRS looking for.
The filling out, the completion, and the sending out to Internal Revenue Service is the key to not only getting an immediate release of a bank levy or wage garnishment notice but settling and closing your case.
The Internal Revenue Service will make sure all documentation is received to make sure the correctness and accuracy of the financial statement.
IRS will also require for verification:
1. The last 3 to 6 months bank statements,
2 copies of pay stubs,
3. copies of all bills for the last 3 to 6 months, and,
4. more importantly they will evaluate your current living expenses to that against the national, regional and local standards.
IRS will evaluate your house and utility expenses, your car expenses, your medical expenses, and any monthly bills that you have.
This is general information,ecially if you have a business, or schedule C.
All bills in expenses must be within the IRS current standards to be acceptable to the Internal Revenue Service.
The bottom line, IRS will review your current financial statement and usually make one of three determinations on how they will close your case off the enforcement computer and at the same time issue a release of bank levy or a wage garnishment notice.
How IRS may close Your case:
Upon IRS receiving all the documentation on the financial statement IRS may determine to put you in:
1. a currently non-collectible hardship status,
2. ask you to enter into a monthly installment payment or,
3. maybe encourage you to file an offer in compromise because you meet certain qualifications to settle your tax debt to the offer in compromise program.
Call us today for a free initial tax consultation we will walk you through the process of getting an immediate release on your wage or bank levy garnishment. Please come by to visit our offices, call us by Skype, or call us for initial free phone consultation.
As a general within 24 hours of receiving your current financial statement we can get an IRS wage or bank levy garnishment released immediately.
Get IRS To Release Bank, Wage Garnishment Levy & Settle NOW, Former IRS + Ft. Lauderdale, Miami, Pompano Beach, Boca Raton, Palm Beaches
by Fresh Start Tax | Nov 6, 2018 | Tax Help
Follow the simple steps on this blog and you’ll learn how to get IRS to release a bank or wage garnishment levy now.
Usually within 24 hours of reading this information, preparing the documentation you should be able to get your release of a banker wage levy garnishment.
You can do this yourself or call our firm comprised of former IRS agents, managers and teaching instructors.
Call today and we can walk you through the process.
As a former IRS agent I literally issued thousands of IRS bank and wage garnishment levy notices therefore I know the system and the methodologies inside and out to get immediate releases of the wage garnishment and bank levies there is a very specific process.
I have signed so many bank and wage garnishment levies that felt many times like my hand would fall off. Some days I issued 50 notices to levy. However, now I’m on your side and I can stop the process.
Not only can we get your IRS wage garnishment or bank levy release we can settle your case at the same time.
One call to our office and you will understand the process of how to get an immediate release of a wage or bank levy garnishment.
It is all a matter of knowing the system.
As a former IRS agent and teaching instructor many taxpayers receive a nasty gram from Internal Revenue Service, they find out that the IRS has either sent out a tax levy
There is never a good time but it always seems to happen at the worst times, always.
The best thing you could possibly do is talk to a professional tax firm that can go over the various options that you have.
It is important that you understand the system and to know that a bank levy garnishment or a wage garnishment is not going to go away until Internal Revenue Service is contacted.
IRS sent the bank levy or the wage garnishment levy because taxpayers have failed to contact them. Sadly, many taxpayers have never received prior bills or notices because they moved and the notices never found their way to be opened.
Before IRS may issue a bank levy is required to send out the following notices. There are absolutely no exceptions.
IRS sends out a series of 4 to 6 letters depending on the case, the dollar amount, the type of delinquency and have formally requested demand for payment on the back taxes.
If the Internal Revenue Service received no correspondence or no call the Internal Revenue Service through their computerized system will issue a bank levy or wage garnishment notice.
IRS cannot levy until it sends out required notices, they are as follows:
Required Notices for IRS :
1. Before property can be levied, the taxpayer must be given a,
• Notice and deman,
• Notice of intent to levy, and
• Notice of a right to a Collection Due Process (CDP) hearing
.
After these notices have been sent out to the IRS computerized system that allows IRS to take the next step to formally issue a bank levy or wage garnishment notice.
The Internal Revenue Service keeps all W-2s, 1099s, and all third-party income sources on a computer in which they draw upon to issue IRS bank levies or wage garnishments. The Internal Revenue Service keeps his income source list for six years.
So, now the ball is put in your court, you are not going to receive another paycheck and IRS has just frozen your bank account for 21 days so what is the next step.
The Internal Revenue Service will be waiting for you to contact them and give them information so they can literally close your case off the IRS enforcement computer.
What IRS is waiting before they can release a bank or wage garnishment:
Please keep in mind that you can get an IRS wage or bank levy garnishment released usually within 24 hours of contact the Internal Revenue Service with all required documentation.
The Internal Revenue Service does not wish to take your money from a bank account work take your wages it only does so because taxpayers have not complied with federal and government regulations. It is used as a last resort and only because taxpayers have failed to contact the IRS because of the tax debt.
The IRS has certain procedures through their internal revenue manual that dictates what the next step will be systems before they will release a bank or wage garnishment notice.
They are as follows:
1.IRS will completely review your current financial statement,
2.IRS knows all your tax returns are filed, and after this is done,
3. IRS is willing to close your case off of the IRS enforcement computer and issue a notice of release of the wage or bank levy garnishment.
What You Should Do NOW:
It is in your best interest to contact a professional tax firm to set up a current tax strategy and exit strategy and to develop a plan to get your levy and wage garnishment immediate released.
The Internal Revenue Service will review your financial statement on form 433 a or 433F before they will make a determination on your case. It is their primary document they use to handle all open IRS collection cases.
The financial statement is the key.
The filling out, the completion, and the sending out to Internal Revenue Service is the key to not only getting an immediate release of a bank levy or wage garnishment notice but settling and closing your case.
The Internal Revenue Service will make sure all documentation is received to make sure the correctness and accuracy of the financial statement.
IRS will also require for verification:
1. The last 3 to 6 months bank statements,
2 copies of pay stubs,
3. copies of all bills for the last 3 to 6 months, and,
4. more importantly they will evaluate your current living expenses to that against the national, regional and local standards.
IRS will evaluate your house and utility expenses, your car expenses, your medical expenses, and any monthly bills that you have.
This is general information IRS will require and depending on your financial statement IRS may add to this list especially if you have a business, or schedule C.
All bills in expenses must be within the IRS current standards to be acceptable to the Internal Revenue Service.
The bottom line, IRS will review your current financial statement and usually make one of three determinations on how they will close your case off the enforcement computer and at the same time issue a release of bank levy or a wage garnishment notice.
How IRS may close Your case:
Upon IRS receiving all the documentation on the financial statement IRS may determine to put you in:
1. a currently non-collectible hardship status,
2. ask you to enter into a monthly installment payment or,
3. maybe encourage you to file an offer in compromise because you meet certain qualifications to settle your tax debt to the offer in compromise program.
Call us today for a free initial tax consultation we will walk you through the process of getting an immediate release on your wage or bank levy garnishment.
As a general within 24 hours of receiving your current financial statement we can get an IRS wage or bank levy garnishment released immediately.
How to Get IRS To Release Bank, Wage Garnishment Levy NOW, Former IRS
by Fresh Start Tax | Nov 6, 2018 | Tax Help
You can get immediate release of a bank levy by preparing to call Internal Revenue Service with all relative information. You must be prepared to fax that information to a one 800 number.
As a former IRS agent and teaching instructor many taxpayers receive a nasty gram from Internal Revenue Service, they find out that the IRS has either sent out a tax levy
There is never a good time but it always seems to happen at the worst times, always.
The best thing you could possibly do is talk to a professional tax firm that can go over the various options that you have.
It is important that you understand the system and to know that a bank levy garnishment or a wage garnishment is not going to go away until Internal Revenue Service is contacted.
IRS sent the bank levy or the wage garnishment levy because taxpayers have failed to contact them. Sadly, many taxpayers have never received prior bills or notices because they moved and the notices never found their way to be opened.
Before IRS may issue a bank levy is required to send out the following notices.
IRS sends out a series of 4 to 6 letters depending on the case, the dollar amount, the type of delinquency and have formally requested demand for payment on the back taxes.
If the Internal Revenue Service received no correspondence or no call the Internal Revenue Service through their computerized system will issue a bank levy or wage garnishment notice.
IRS cannot levy until it sends out required notices, they are as follows:
Required Notices
1. Before property can be levied, the taxpayer must be given a
• Notice and demand
• Notice of intent to levy, and
• Notice of a right to a Collection Due Process (CDP) hearing
.
After these notices have been sent out to the IRS computerized system that allows IRS to take the next step to formally issue a bank levy or wage garnishment notice.
The Internal Revenue Service keeps all W-2s, 1099s, and all third-party income sources on a computer in which they draw upon to issue IRS bank levies or wage garnishments. The Internal Revenue Service keeps his income source list for six years.
So, now the ball is put in your court, you are not going to receive another paycheck and IRS has just frozen your bank account for 21 days so what is the next step.
The Internal Revenue Service will be waiting for you to contact them and give them information so they can literally close your case off the IRS enforcement computer.
What IRS is waiting before they can release a bank or wage garnishment:
Please keep in mind that you can get an IRS wage or bank levy garnishment released usually within 24 hours of contact the Internal Revenue Service with all required documentation.
The Internal Revenue Service does not wish to take your money from a bank account work take your wages it only does so because taxpayers have not complied with federal and government regulations. It is used as a last resort and only because taxpayers have failed to contact the IRS because of the tax debt.
The IRS has certain procedures through their internal revenue manual that dictates what the next step will be systems before they will release a bank or wage garnishment notice.
They are as follows:
1.IRS will completely review your current financial statement,
2.IRS knows all your tax returns are filed, and after this is done,
3. IRS is willing to close your case off of the IRS enforcement computer and issue a notice of release of the wage or bank levy garnishment.
What You Should Do NOW:
It is in your best interest to contact a professional tax firm to set up a current tax strategy and exit strategy and to develop a plan to get your levy and wage garnishment immediate released.
The Internal Revenue Service will review your financial statement on form 433 a or 433F before they will make a determination on your case. It is their primary document they use to handle all open IRS collection cases.
The financial statement is the key
The filling out, the completion, and the sending out to Internal Revenue Service is the key to not only getting an immediate release of a bank levy or wage garnishment notice but settling and closing your case.
The Internal Revenue Service will make sure all documentation is received to make sure the correctness and accuracy of the financial statement.
IRS will also require for verification:
1. The last 3 to 6 months bank statements,
2.copies of pay stubs,
3. copies of all bills for the last 3 to 6 months, and,
4. more importantly they will evaluate your current living expenses to that against the national, regional and local standards.
IRS will evaluate your house and utility expenses, your car expenses, your medical expenses, and any monthly bills that you have.
All bills in expenses must be within the IRS current standards to be acceptable to the Internal Revenue Service.
The bottom line, IRS will review your current financial statement and usually make one of three determinations on how they will close your case off the enforcement computer and at the same time issue a release of bank levy or a wage garnishment notice.
Upon IRS receiving all the documentation on the financial statement IRS may determine to put you in:
1. a currently non-collectible hardship status,
2. ask you to enter into a monthly installment payment or,
3. maybe encourage you to file an offer in compromise because you meet certain qualifications to settle your tax debt to the offer in compromise program.
Can you do this yourself, well I can’t fix my own car I hire a mechanic so basically it all depends on your skill level, confidence and knowledge of the system.
Call us today for a free initial tax consultation we will walk you through the process of getting an immediate release on your wage or bank levy garnishment.
As a general within 24 hours of receiving your current financial statement we can get an IRS wage or bank levy garnishment released immediately.
by Fresh Start Tax | Nov 6, 2018 | Tax Help
As a former IRS agent and teaching instructor many taxpayers receive a nasty gram from Internal Revenue Service, they find out that the IRS has either sent out a tax levy.
There is never a good time but it always seems to happen at the worst times, always.
The best thing you could possibly do is talk to a professional tax firm that can go over the various options that you have.
It is important that you understand the system and to know that a bank levy garnishment or a wage garnishment is not going to go away until Internal Revenue Service is contacted.
IRS sent the bank levy or the wage garnishment levy because taxpayers have failed to contact them. Sadly, many taxpayers have never received prior bills or notices because they moved and the notices never found their way to be opened.
IRS sends out a series of 4 to 6 letters depending on the case, the dollar amount, the type of delinquency and have formally requested demand for payment on the back taxes.
If the Internal Revenue Service received no correspondence or no call the Internal Revenue Service through their computerized system will issue a bank levy or wage garnishment notice.
The Internal Revenue Service keeps all W-2s, 1099s, and all third-party income sources on a computer in which they draw upon to issue IRS bank levies or wage garnishments. The Internal Revenue Service keeps his income source list for six years.
So, now the ball is put in your court, you are not going to receive another paycheck and IRS has just frozen your bank account for 21 days so what is the next step.
The Internal Revenue Service will be waiting for you to contact them and give them information so they can literally close your case off the IRS enforcement computer.
What IRS is waiting before they can release a bank or wage garnishment:
The IRS has certain procedures through their internal revenue manual that dictates what the next step will be systems before they will release a bank or wage garnishment notice.
They are as follows:
1.IRS will completely review your current financial statement,
2.IRS knows all your tax returns are filed, and after this is done,
3. IRS is willing to close your case off of the IRS enforcement computer and issue a notice of release of the wage or bank levy garnishment.
What You Should Do:
It is in your best interest to contact a professional tax firm to set up a current tax strategy and exit strategy and to develop a plan to get your levy and wage garnishment immediate released.
The Internal Revenue Service will review your financial statement on form 433 a or 433F before they will make a determination on your case. It is their primary document they use to handle all open IRS collection cases.
The financial statement is the key
The filling out, the completion, and the sending out to Internal Revenue Service is the key to not only getting an immediate release of a bank levy or wage garnishment notice but settling and closing your case.
The Internal Revenue Service will make sure all documentation is received to make sure the correctness and accuracy of the financial statement.
IRS will also require for verification:
1. The last 3 to 6 months bank statements,
2.copies of pay stubs,
3. copies of all bills for the last 3 to 6 months, and,
4. more importantly they will evaluate your current living expenses to that against the national, regional and local standards.
IRS will evaluate your house and utility expenses, your car expenses, your medical expenses, and any monthly bills that you have.
All bills in expenses must be within the IRS current standards to be acceptable to the Internal Revenue Service.
The bottom line, IRS will review your current financial statement and usually make one of three determinations on how they will close your case off the enforcement computer and at the same time issue a release of bank levy or a wage garnishment notice.
Upon IRS receiving all the documentation on the financial statement IRS may determine to put you in:
1. a currently non-collectible hardship status,
2. ask you to enter into a monthly installment payment or,
3. maybe encourage you to file an offer in compromise because you meet certain qualifications to settle your tax debt to the offer in compromise program.
Can you do this yourself, well I can’t fix my own car I hire a mechanic so basically it all depends on your skill level, confidence and knowledge of the system.
Call us today for a free initial tax consultation we will walk you through the process of getting an immediate release on your wage or bank levy garnishment.
by Fresh Start Tax | Nov 6, 2018 | Tax Help
So, you file a tax return and you will owe back taxes to the Internal Revenue Service, what is going to happen and what is the process???
The first thing that you will do is receive a bill for the amount you will.
This bill actually starts the IRS collection process and will continue until your account is closed by the Internal Revenue Service.This process is called the IRS tax assessment and starts the statute of limitation on every case which is 10 years that IRS creates a notice on the IRS billing system.
There are different ways that IRS can close your case.
As a general rule, IRS after reviewing your case and your current financial statement may close your case by putting you into a non-collectible hardship status, entertaining a payment agreement or the possibility of settling your tax debt through an offer in compromise.
This will happen over a ten-year period of time in which the IRS collection statute of limitations expires.
It is very important for every taxpayer to understand and to make sure that the tax debt that IRS is assessing you for is correct.
I advise all taxpayers to pull out there tax return and compare it to the bill to make sure the amount owed to IRS is correct.
If not, your first step is to correct the IRS tax notice and make sure the proper amount you always on the IRS computer.
The first notice you receive will be a letter that explains the balance due and demands payment in full.
It will include the amount of the tax, plus any penalties and interest accrued on your unpaid balance from the date the tax was due.
The unpaid balance is subject to interest that compounds daily and a monthly late payment penalty. It’s in your best interest to pay your tax liability in full as soon as you can to minimize the penalty and interest charges.
If you’re not able to pay your balance in full immediately, the IRS may be able to offer you a monthly installment agreement. There are various programs that IRS has to pay back taxes depending on the amount you owe and the period of time you wish to pay them back.
If this is your situation you could call us today and speak to a true IRS tax expert.
IRS should be contacted at some time during this process especially when you receive the final notice to let them know you are unable to pay the tax debt in full and you wish to make arrangements.
Making arrangements is not necessarily to pay off the debt but may be to ask IRS to place you in a hardship or let them know you want to settle your tax debt through the filing of an offer in compromise
If you need more time to pay, you may ask that IRS delay collection and report your account as currently not collectible.
If the IRS determines that you can’t pay any of your tax debt due to a financial hardship, the IRS may temporarily delay collection by reporting your account as currently not collectible until your financial condition improves.
Being currently not collectible doesn’t mean the debt goes away. It means the IRS has determined you can’t afford to pay the debt at this time.
Prior to approving your request to delay collection, we may ask you to complete a Collection Information Statement (Form 433-F.pdf, Form 433-A.pdf, or Form 433-B.pdf) and provide proof of your financial status (this may include information about your assets and your monthly income and expenses).
If IRS does delay collecting from you, your debt continues to accrue penalties and interest until the debt is paid in full. The IRS may temporarily suspend certain collection actions, such as issuing a levy (explained below), until your financial condition improves. However, we may still file a Notice of Federal Tax Lien (explained below) while your account is suspended.
It’s important you contact the IRS and make arrangements to pay the tax due voluntarily. is best to check with the professional tax firm about the various programs that are available to take care of your situation and to draw up a short term and long term strategy.
If you do not contact IRS, they may take action to collect the taxes.
For example:
1. Filing a Notice of Federal Tax Lien
2. Serving a Notice of Levy, or Wage Garnishments
3. Offsetting a refund to which you’re entitled
What is a federal tax lien:
A federal tax lien is a legal claim to your property, including property that you acquire after the lien arises.
The federal tax lien arises automatically when you fail to pay in full the taxes that have been assessed against you within ten days after the IRS sends the first notice of taxes owed and demand for payment.
The IRS may also file a Notice of Federal Tax Lien in the public records, which publicly notifies your creditors that the IRS has a claim against all your property, including property acquired by you after the filing of the Notice of Federal Tax Lien.
The filing of a Notice of Federal Tax Lien may appear on your credit report and may harm your credit rating.
Once a lien arises, the IRS generally can’t release the lien until the tax, penalty, interest, and recording fees are paid in full or until the IRS may no longer legally collect the tax.
The IRS will withdraw a Notice of Federal Tax Lien if the notice was filed while a bankruptcy automatic stay was in effect.
The IRS may withdraw a Notice of Federal Tax Lien if the IRS determines:
1. The Notice was not filed according to IRS procedures;
2. You enter into an installment agreement to satisfy the liability unless the installment agreement provides otherwise;
3. Withdrawal will allow you to pay your taxes more quickly; or
4. Withdrawal is in your best interest, as determined by the National Taxpayer Advocate, and in the best interest of the government.
The IRS may levy (seize) assets such as wages, bank accounts, social security benefits, and retirement income.
The IRS also may seize your property (including your car, boat, or real estate) and sell the property to satisfy the tax debt. In addition, any future federal tax refunds or state income tax refunds that your due may be seized and applied to your federal tax liability.
You have rights and protections throughout the collection process.
if you will money to the Internal Revenue Service and you need to know what’s next call former IRS agents who can explain the process and set up a short-term/long-term strategy to and your tax problem altogether.
It is very important for everyone to know that all tax returns need to be filed and that all taxpayers remain current with withholding or estimated tax payment so IRS can work with you and feel confident about their negotiations.
