My response to a reader’s question about what happens to your bank account after the IRS hits it with a levy. The IRS has levied my bank account and there was not enough funds to...
Read PostCategory: Automated Collection Service, Economic hardship and the IRS, IRS levies and property seizures, Revenue Officers
If you owe the IRS and have a refund on your tax return, the IRS will keep the refund and apply it to your unpaid taxes. The problem is not repaying the debt – you...
Read PostCategory: Divorce and the IRS, Innocent spouse, IRS Financial Statements, Unfiled returns
When you make a payment to the IRS, it will be automatically applied to your account in a manner that is in the IRS’s best interest. But what is best for the IRS in handling...
Read PostCategory: Automated Collection Service, Employment taxes, IRS Collection Problems, Revenue Officers, Statute of limitations on collections, Trust fund recovery penalty
My clients with IRS collection problem come to me with different ideas about what will happen to them because they did not pay their taxes. Is the IRS going to show up one day and...
Read PostCategory: Automated Collection Service, IRS collection notices, IRS Collection Problems, IRS levies and property seizures, IRS Seizures, Property Exempt from Collection, Revenue Officers
