by Fresh Start Tax | May 13, 2013 | Tax Help
Exempt Organizations Filing Date – File or Lose Exemption 1-866-700-1040
Are you a tax exempt organization?
Many Tax-Exempt Organizations Must File with IRS By May 15 to Preserve Tax-Exempt Status
A key deadline of May 15 is facing many tax-exempt organizations that are required by law to file annual reports with the Internal Revenue Service.
Organizations will see their federal tax exemptions automatically revoked if they have not filed reports for three consecutive years.
The Pension Protection Act of 2006 mandates that most tax-exempt organizations file annual Form 990-series informational returns or notices with the IRS. Under this law, organizations that fail to file reports for three consecutive years automatically lose their federal tax-exempt status.
The law, which went into effect at the beginning of 2007, also imposed a new annual filing requirement on small organizations.
Churches and church-related organizations are not required to file annual reports.
Form 990-series information returns and notices are due on the 15th day of the fifth month after an organization’s fiscal year ends.
Organizations that need additional time to file may obtain an extension.
Many organizations use the calendar year as their fiscal year, which makes May 15 the deadline for them.
Organizations that fail to file annual reports for three consecutive years will see their tax exemptions automatically revoked as of the due date of the third required filing.
Small tax-exempt organizations with average annual receipts of $50,000 or less may file an electronic notice called a Form 990-N (e-Postcard), which asks organizations for a few basic pieces of information.
Tax-exempt organizations with average annual receipts above $50,000 must file a Form 990 or 990-EZ, depending on their receipts and assets.
Private foundations file a Form 990-PF.
The IRS began to publish the names of organizations identified as having automatically lost their tax-exempt status for failing to file annual reports for three consecutive years. Organizations that have had their exemptions automatically revoked and wish to have that status reinstated must file an application for exemption and pay the appropriate user fee.
The IRS offers an online search tool, Exempt Organizations Select Check, to help users more easily find key information about the federal tax status and filings of certain tax-exempt organizations, including whether organizations have had their federal tax exemptions automatically revoked.
Exempt Organizations Filing Date – File or Lose Exemption
by Fresh Start Tax | May 9, 2013 | Tax Help
IRS Collection Issue, Owe the IRS, Tax Resolution Specialists, Affordable Former Agents 1-866-700-1040
If you are having an IRS collection issue and you owe the IRS back tax, contact us today for a free initial tax consultation and speak directly to tax attorneys, certified public accountants, former IRS agents and managers.
With over 206 years of professional tax experience and over 60 years of working directly for the Internal Revenue Service we can go over all the tax options with you and let you know your best avenue of resolving your case with the Internal Revenue Service.
We are true IRS tax experts and tax resolution.
As former IRS agents we taught tax law in the local, district, and regional tax offices of the Internal Revenue Service.
In fact, we taught new IRS agents there job. Needless to say we are familiar with all the tax policies, all IRS collection issues,and methods of tax settlement and every avenue to painlessly resolve your IRS issue.
If you do not pay your tax bill on time
If you do not pay in full when you file your tax return, you will receive written notice of the amount you owe, a bill.
This bill or tax notice starts the collection process, which continues until your account is satisfied or until the IRS may no longer legally collect the tax.
The IRS first notice
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 added to your unpaid balance from the date the tax was due.
You may pay the amount due by sending the IRS a check or money order, payable to the United States Treasury, with a copy of the notice.
For detailed information on paying your taxes by credit or debit card, or other electronic payment, go to http://www.irs.gov/uac/Electronic-Payment-Options-Home-Page, or call IRS at 800-829-1040.
If you cannot pay the IRS in full
If you cannot pay in full, you should send in as much as you can with the notice.
The unpaid balance is subject to interest that will compound daily and to a monthly late payment penalty. It is in your best interest to pay your tax liability in full as soon as you can to minimize additional charge.
Monthly IRS installment agreements
The Internal Revenue Service has various installment agreements to pay your back taxes. Everything will determine on the amount of money that you owe the Internal Revenue Service.
Direct Debit Installment Agreements and Tax Liens
The IRS is making other fundamental changes to liens in cases where taxpayers enter into a Direct Debit Installment Agreement.
For taxpayers with unpaid assessments of $25,000 or less, the IRS will now allow lien withdrawals under several scenarios:
Lien withdrawals for taxpayers entering into a Direct Debit Installment Agreement.
The IRS will withdraw a lien if a taxpayer on a regular Installment Agreement converts to a Direct Debit Installment Agreement.
The IRS will also withdraw liens on existing Direct Debit Installment agreements upon taxpayer request.
Tax Liens will be withdrawn after a probationary period demonstrating that direct debit payments will be honored.
In addition, this lowers user fees and saves the government money from mailing monthly payment notices.
Installment Agreements and Small Businesses
The IRS will also make streamlined Installment Agreements available to more small businesses. The payment program will raise the dollar limit to allow additional small businesses to participate.
Small businesses with $25,000 or less in unpaid tax can participate.
Currently, only small businesses with under $10,000 in liabilities can participate. Small businesses will have 24 months to pay.
The streamlined Installment Agreements will be available for small businesses that file either as an individual or as a business.
Small businesses with an unpaid assessment balance greater than $25,000 would qualify for the streamlined Installment Agreement if they pay down the balance to $25,000 or less.
Small businesses will need to enroll in a Direct Debit Installment Agreement to participate.
IRS Settlements – Offers in Compromise
An offer in compromise (OIC) is an agreement between a taxpayer and the Internal Revenue Service that settles the taxpayer’s tax liabilities for less than the full amount owed.
If the liabilities can be fully paid through an installment agreement or other means, the taxpayer will in most cases not be eligible for an OIC.
In order to be eligible for an OIC, the taxpayer must have filed all tax returns, made all required estimated tax payments for the current year, and made all required federal tax deposits for the current quarter if the taxpayer is a business owner with employees.
In most cases, the IRS will not accept an OIC unless the amount offered by the taxpayer is equal to or greater than the reasonable collection potential (the RCP).
The RCP is how the IRS measures the taxpayer’s ability to pay. The RCP includes the value that can be realized from the taxpayer’s assets, such as real property, automobiles, bank accounts, and other property.
In addition to property, the RCP also includes anticipated future income, less certain amounts allowed for basic living expenses.
Before you file an offer in compromise you should use the pre-qualifier tool found on our website.
It can save you a lot of time and money and you should know that you are a qualified candidate before you file an offer in compromise.
The IRS may accept an OIC based on three grounds.
First, acceptance is permitted if there is doubt as to liability.
This ground is only met when genuine doubt exists under applicable law that the IRS has correctly determined the amount owed.
Second, acceptance is permitted if there is doubt that the amount owed is fully collectible.
This means that doubt as to collectibility exists in any case where the taxpayer’s assets and income are less than the full amount of the tax liability.
Third, acceptance is permitted based on effective tax administration.
An offer may be accepted based on effective tax administration when there is no doubt that the tax is legally owed and that the full amount owed can be collected, but requiring payment in full would either create an economic hardship or would be unfair and inequitable because of exceptional circumstances.
Facts about IRS Offers in Compromise when you owe the IRS
You should know that about 58,000 offers and compromises were filed last year.
The average settlement is some $.14 on a dollar.
The average wait time to get a IRS offer in compromise accepted is somewhere in the time period of 6 to 9 months.
Contact us today for a free initial tax consultation and hear the truth about IRS collection issues from true tax resolution specialists.
IRS Collection Issue, Owe the IRS, Tax Resolution Specialists, Affordable Former Agents
by Fresh Start Tax | May 9, 2013 | Tax Help
IRS Problems, Tax Help – Methods of Tax Resolutions – Former Agents 1-866-700-1040
If you are having IRS problems and need professional IRS tax help contact us today for free initial tax consultation and speak directly to IRS tax attorneys, IRS tax lawyers, certified public accountants, or former IRS agents and managers. We can handle all your IRS problems and suggest to you different methods of tax resolution.
With over 206 years of professionals tax experience and over 60 years working directly for the Internal Revenue Service we are one of the most experienced nationwide tax firms.
We have worked thousands of cases and are A+ rated by the Better Business Bureau.
We have been in practice since 1982 and taught tax law at the Internal Revenue Service.
As a result our year of working for the IRS we know all of the tax policies, tax procedures, and all the tax issues as well as methods on how to resolve your IRS tax problems.
If you owe the Internal Revenue Service here are the methods of tax resolutions:
If you owe back taxes to Internal Revenue Service there are generally three methods of tax resolution that the IRS will offer on back taxes.
On each delinquent or back tax case the IRS is required to secure a current financial statement that is fully documented and fully complete. That form will be on an IRS financial statement or 433-F. You will have to send to the all receipts, bills, pay stubs, bank statements to verify the financial statement.
After IRS evaluates the 433 f form there are three basic categories a taxpayer will be put into by the Internal Revenue Service all based on their current financial statement.
IRS will either determine based on your current financial statement that the taxpayer does not have the ability at the current time to pay the tax and they will put them in a non-collectible status, IRS also has the option of setting up an installment or payment arrangement, or IRS has the option of suggesting an offer in compromise if the taxpayer qualifies for a tax debt settlement.
It is important for all taxpayers to take care of their IRS billing notice when it comes to them. If the taxpayer does not respond to the last IRS notice or bill the IRS will send out an IRS bank levy, an IRS wage garnishment levy or file a federal tax lien.
The best advice to give any person owing money to the IRS that has an IRS tax problem looking for help is to resolve their IRS matter and to not have their head buried in the sand. Solve the problem on your terms and not the terms of the Internal Revenue Service.
IRS has new tax policies and methods to resolve Tax Problems
In its latest effort to help struggling taxpayers, the Internal Revenue Service announced a series of new steps to help people get a fresh start with their tax liabilities by offering different methods of tax resolutions
The IRS is announcing new policies and programs to help taxpayers pay back taxes and avoid tax liens.
The new IRS methods or changes include:
a. Significantly increasing the dollar threshold when liens are generally issued, resulting in fewer tax liens,
b. Making it easier for taxpayers to obtain lien withdrawals after paying a tax bill.
Withdrawing liens in most cases where a taxpayer enters into a Direct Debit Installment Agreement,
c.Creating easier access to Installment Agreements for more struggling small businesses.
d. Expanding a streamlined Offer in Compromise program to cover more taxpayers.
IRS Federal Tax Lien Thresholds
The IRS will significantly increase the dollar thresholds when liens are generally filed. The new dollar amount is in keeping with inflationary changes since the number was last revised. Currently, liens are automatically filed at $10,000 for people with past-due balances.
The IRS plans to review the results and impact of the lien threshold change in about a year.
A federal tax lien gives the IRS a legal claim to a taxpayer’s property for the amount of an unpaid tax debt.
Filing a Notice of Federal Tax Lien is necessary to establish priority rights against certain other creditors. Usually the government is not the only creditor to whom the taxpayer owes money.
A lien informs the public that the U.S. government has a claim against all property, and any rights to property, of the taxpayer.
This includes property owned at the time the notice of lien is filed and any acquired thereafter. A lien can affect a taxpayer’s credit rating, so it is critical to arrange the payment of taxes as quickly as possible.
Tax Lien Withdrawals
The IRS will also modify procedures that will make it easier for taxpayers to obtain federal tax lien withdrawals.
Tax Liens will now be withdrawn once full payment of taxes is made if the taxpayer requests it. The IRS has determined that this approach is in the best interest of the government.
In order to speed the withdrawal process, the IRS will also streamline its internal procedures to allow collection personnel to withdraw the liens.
Direct Debit Installment Agreements and Tax Liens
The IRS is making other fundamental changes to liens in cases where taxpayers enter into a Direct Debit Installment Agreement (DDIA).
For taxpayers with unpaid assessments of $25,000 or less, the IRS will now allow lien withdrawals under several scenarios:
Lien withdrawals for taxpayers entering into a Direct Debit Installment Agreement.
The IRS will withdraw a lien if a taxpayer on a regular Installment Agreement converts to a Direct Debit Installment Agreement.
The IRS will also withdraw liens on existing Direct Debit Installment agreements upon taxpayer request.
Tax Liens will be withdrawn after a probationary period demonstrating that direct debit payments will be honored.
In addition, this lowers user fees and saves the government money from mailing monthly payment notices.
Installment Agreements and Small Businesses
The IRS will also make streamlined Installment Agreements available to more small businesses. The payment program will raise the dollar limit to allow additional small businesses to participate.
Small businesses with $25,000 or less in unpaid tax can participate.
Currently, only small businesses with under $10,000 in liabilities can participate. Small businesses will have 24 months to pay.
The streamlined Installment Agreements will be available for small businesses that file either as an individual or as a business. Small businesses with an unpaid assessment balance greater than $25,000 would qualify for the streamlined Installment Agreement if they pay down the balance to $25,000 or less.
Small businesses will need to enroll in a Direct Debit Installment Agreement to participate.
Offers in Compromise – Settlements
The IRS is also expanding a new streamlined Offer in Compromise (OIC) program to cover a larger group of struggling taxpayers.
This streamlined OIC is being expanded to allow taxpayers with annual incomes up to $100,000 to participate.
In addition, participants must have tax liability of less than $50,000, doubling the current limit of $25,000 or less.
OICs are subject to acceptance based on legal requirements. An offer-in-compromise is an agreement between a taxpayer and the IRS that settles the taxpayer’s tax liabilities for less than the full amount owed.
Generally, an offer will not be accepted if the IRS believes that the liability can be paid in full as a lump sum or through a payment agreement. The IRS looks at the taxpayer’s income and assets to make a determination regarding the taxpayer’s ability to pay.
If you have any questions about IRS problems need tax help contact us about methods of tax resolution. You can call us directly and tax consultation after the truth about your case.
IRS Problems, Tax Help – Methods of Tax Resolutions – Former Agents – Affordable
by Fresh Start Tax | May 9, 2013 | Tax Help
How to Make Payments to the IRS – Installment/Payment Plans – Former IRS Agents 1-866-700-1040
If you want to know how to make payments to the Internal Revenue Service contact us today and we can go over all your tax options to make this IRS situation go away immediately and permanently.
If you owe the Internal Revenue Service and need an IRS payment plan or installment agreement the Internal Revenue Service has finally launched new IRS policies within the new fresh start program for back taxes.
They have finally made it easier for taxpayers to resolve their IRS cases by making equal monthly payments.
By calling us for free initial tax consultation we can explain to you how to make payments to the Internal Revenue Service and also explained to you that you may be eligible for an IRS tax settlement called the offer in compromise.
Our staff is comprised of tax attorneys, tax lawyers, certified public accountants, and former IRS agents and managers.
Our former IRS agents worked in positions such as revenue agents, revenue officers, IRS audit managers and IRS appellate agents. While at the Internal Revenue Service we taught tax law.
We have over 206 years of professional IRS tax experience and over 60 years of working directly for the Internal Revenue Service in the local, district, and regional tax offices of the Internal Revenue Service.
We are true IRS tax experts and how to make payments/installment to the IRS, how to put your case into an economic tax hardship if you qualify and also settling your IRS tax bill if you are a true candidate through the offer in compromise.
New IRS policy for back taxes
You can finally make monthly payments through an installment agreement (Payment Plan – Installment Plans) if you’re not financially able to pay your tax debt immediately.
However, you will reduce or eliminate the amount of penalties and interest you pay and avoid the fee associated with setting up an installment agreement if you pay your tax bill in full.
You may want to talk to us on how to eliminate or reduce sure IRS penalties and interest if reasonable cause exists. You can look at our website and look for abatement of penalties and interest and see if you qualify for the removal of IRS penalties and interest.
Do you have a Business – In-Business Payment/Installment Agreements
Small businesses who currently have employees can qualify for an In-Business Trust Fund Express Installment Agreement.
These installment/payment agreements generally do not require a financial statement or financial verification as part of the application process. Remember that each case is unique in IRS has different options on how they wish to work your case.
You owe $25,000 or less
If you owe $25,000 or less at the time the agreement is established.
If you owe more than $25,000, you may pay down the liability before entering into the agreement in order to qualify.
The IRS tax debt must be full paid within 24-months or prior to the Collection Statute Expiration Date, whichever is earlier.
You must enroll in a Direct Debit installment agreement (Payment Plans )
You must enroll in a Direct Debit installment agreement (DDIA) if the amount you owe is between $10,000 and $25,000 you must be compliant with all filing and payment requirements.
For Individuals – Streamlined Installment/Payment Agreements
The Fresh Start provisions also mean that more taxpayers will have the ability to use streamlined installment agreements to catch up on back taxes.
Under the Fresh Start initiative, the maximum dollar criteria for streamlined installment agreements has been raised from $25,000 to $50,000 and the maximum term has been raised from 60 months to 72 months.
These installment agreements generally do not require a financial statement, but a limited amount of financial information may be required in the application process.
The Streamlined Installment Agreement criteria is divided into two categories, balance due of $25,000 or less, and balance due $25,001 to $50,000.
The criteria to qualify for streamlined installment agreements with a balance due of $25,00 or less are:
You owe $25,000 or less, at the time the agreement is established.
If you owe more than $25,000, you may pay down the liability before entering into the agreement in order to qualify.
a. The debt must be full paid within 72-months or prior to the Collection Statute Expiration Date, whichever is earlier.
b. You must be compliant with all filing and payment requirements.
c. Individuals who owe any type of tax (Form 1040, Trust Fund Recovery Penalty, etc.).
Defunct businesses, including any type of entity and any type tax (Form 940, 941, 943, etc.).
d.Operating businesses are limited to income tax liabilities only (Form 1120).
The criteria to qualify for streamlined installment agreements with a balance due of $25,001 to $50,000 are:
You owe $25,001 to $50,000, at the time the agreement is established.
If you owe more than $50,000, you may pay down the liability before entering into the agreement in order to qualify.
The IRS federal tax debt must be full paid within 72-months or prior to the Collection Statute Expiration Date, whichever is earlier.
You also must be compliant with all filing and payment requirements.
Individuals who owe any type of tax (Form 1040, Trust Fund Recovery Penalty, etc.).
Businesses are limited to defunct sole proprietors who owe any type of tax (Form 940, 941, 943, etc.).
You must enroll in a Direct Debit Installment Agreement.
A limited amount of financial information may be required during the application process.
Taxpayers seeking installment agreements exceeding $50,000 will still need to supply the IRS with a Collection Information Statement (Form 433-A (PDF) or Form 433-F (PDF).
How to Make Payments to the IRS – Installment/Payment Plans – Former IRS Agents
by Fresh Start Tax | May 9, 2013 | Tax Help
Owe IRS Need Payment Plan – New IRS Policies for Back Taxes 1-866-700-1040
Finally,the IRS heard the voice of taxpayers.
If you owe the Internal Revenue Service and need an IRS payment plan the Internal Revenue Service has finally launched new IRS policies for back taxes and for once they have done something to help struggling taxpayers.
If you owe the IRS and need a payment plan contact us today and hear your different tax options to settle your IRS tax debt.
We can find a program that matches your finances that will not stretch you or cause fear or pain in your life.
Our staff is comprised of tax attorneys, tax lawyers, certified public accountants, and former IRS agents and managers.
We have over 206 years of professional IRS tax experience and over 60 years of working directly for the Internal Revenue Service in the local, district, and regional tax offices of the Internal Revenue Service.
We are tax experts in owing and settling back IRS tax bills.
New IRS policy for back taxes
You can finally make monthly payments through an installment agreement (Payment Plan ) if you’re not financially able to pay your tax debt immediately.
However, you will reduce or eliminate the amount of penalties and interest you pay and avoid the fee associated with setting up an installment agreement if you pay your tax bill in full.
Do you have a Business – In-Business Trust Fund Express Installment (Payment Plans )Agreements
Small businesses who currently have employees can qualify for an In-Business Trust Fund Express Installment Agreement (IBTF-Express IA).
These installment agreements generally do not require a financial statement or financial verification as part of the application process.
The criteria to qualify for an IBTF-Express IA are:
You owe $25,000 or less at the time the agreement is established. If you owe more than $25,000, you may pay down the liability before entering into the agreement in order to qualify.
The IRS tax debt must be full paid within 24-months or prior to the Collection Statute Expiration Date (CSED), whichever is earlier.
You must enroll in a Direct Debit installment agreement (Payment Plans )
You must enroll in a Direct Debit installment agreement (DDIA) if the amount you owe is between $10,000 and $25,000 you must be compliant with all filing and payment requirements.
For Individuals – Streamlined Installment Agreements
The Fresh Start provisions also mean that more taxpayers will have the ability to use streamlined installment agreements to catch up on back taxes.
Under the Fresh Start initiative, the maximum dollar criteria for streamlined installment agreements has been raised from $25,000 to $50,000 and the maximum term has been raised from 60 months to 72 months.
These installment agreements generally do not require a financial statement, but a limited amount of financial information may be required in the application process.
The Streamlined Installment Agreement criteria is divided into two categories, balance due of $25,000 or less, and balance due $25,001 to $50,000.
The criteria to qualify for streamlined installment agreements with a balance due of $25,00 or less are:
You owe $25,000 or less, at the time the agreement is established.
If you owe more than $25,000, you may pay down the liability before entering into the agreement in order to qualify.
Also:
a. The debt must be full paid within 72-months or prior to the Collection Statute Expiration Date, whichever is earlier.
b. You must be compliant with all filing and payment requirements.
c. Individuals who owe any type of tax (Form 1040, Trust Fund Recovery Penalty, etc.).
Defunct businesses, including any type of entity and any type tax (Form 940, 941, 943, etc.).
d.Operating businesses are limited to income tax liabilities only (Form 1120).
The criteria to qualify for streamlined installment agreements with a balance due of $25,001 to $50,000 are:
You owe $25,001 to $50,000, at the time the agreement is established.
If you owe more than $50,000, you may pay down the liability before entering into the agreement in order to qualify.
The debt must be full paid within 72-months or prior to the Collection Statute Expiration Date, whichever is earlier.
You must be compliant with all filing and payment requirements.
Individuals who owe any type of tax (Form 1040, Trust Fund Recovery Penalty, etc.).
Businesses are limited to defunct sole proprietors who owe any type of tax (Form 940, 941, 943, etc.).
You must enroll in a Direct Debit Installment Agreement.
A limited amount of financial information may be required during the application process.
Taxpayers seeking installment agreements exceeding $50,000 will still need to supply the IRS with a Collection Information Statement (Form 433-A (PDF) or Form 433-F (PDF).
You can find all these forms on our website.
Owe IRS – Need Payment Plan – New IRS Policies for Back Taxes, Former IRS
by Fresh Start Tax | May 9, 2013 | Tax Help
IRS Problems – Received IRS Final Notice Tax Bill – Stop the IRS Today 1-866-700-1040
With one telephone call we can stop the IRS today.Being former IRS agents we know the exact process on how to immediately remedy your situation.
If you have IRS problems and just received an IRS notice or tax bill contact us today and we can immediately stop the Internal Revenue Service. Do not let a IRS final bill or notice take the joy out of your life. This situation can be easily remedied.
We are comprised of tax attorneys, tax lawyers, certified public accountants, and former IRS agents, managers and tax instructors who have over 206 years of professional tax industry within the tax resolution business.
We are IRS problem experts that can resolve and affordably settle your case.
Since we have worked for the Internal Revenue Service for over 60 years we are familiar with the procedures, all the protocols, and all the tax settlement procedures to go ahead and get your life back in order.
How your IRS case will be resolved.
IRS resolves all cases by securing a current financial statement from the taxpayer.
That financial statement will be found on a form 433-F. IRS will do an analysis of assets, income and expenses. After that analysis IRS will place you in one of three categories.
The IRS may elect to put you into a tax hardship in which your case will be suspended for two or three years, IRS may elect to put you on a monthly installment payment based on the ratio of your income to expenses or the Internal Revenue Service may indicate you would be in IRS settlement candidate.
Contact us today and find out how we can solve your IRS problem and remedy the IRS problem of you receiving your IRS final notice or tax bill.
Answers to Common Questions when you received a IRS Final Tax Bill Notice
What is the notice telling me?
This notice is telling you that the IRS intends to issue a levy against your state tax refund because you still have a balance due on one of your tax accounts.
You must pay this amount immediately to avoid this. It is also telling you that the IRS will begin searching for other assets on which to issue a levy.
IRS may also file a Federal Tax Lien, if we have not already done so.
How much time do I have?
You must pay your balance due by the due date shown on your notice or contact the IRS telling them you cannot pay or you would like to settle your final notice tax bill.
What happens if I don’t contact the IRS?
If you don’t pay the amount due, the IRS may seize (“levy”) any state tax refund to which you’re entitled. This is your notice of intent to levy as required by Internal Revenue Code section 6331(d).
If you still have an outstanding balance after the IRS can seize (“levy”) your state tax refund, we may send you a notice giving you a right to a hearing before the IRS Office of Appeals, if you have not already received such a notice.
IRS may then seize (“levy”) or take possession of your other property or your rights to property.
IRS can seize – Property may include:
a.Wages, real estate commissions, and other income
b.Bank accounts
c.Business assets
d.Personal assets (including your car and home)
e.Social Security benefits
If you don’t pay the amount due or call us to make payment arrangements, IRS can file a Notice of Federal Tax Lien on your property at any time, if they haven’t already done so.
If the tax lien is in place, you may find it difficult to sell or borrow against your property.
The tax lien would also appear on your credit report which may harm your credit rating and your creditors would also be publicly notified that the IRS has priority to seize your property.
It is always best to take an assertive position when dealing with IRS problems. If you have received an IRS final notice tax bill contact us today. By making one phone call to the Internal Revenue Service we can stop the IRS.
