Making it through an IRS audit is stressful and anxiety ridden, but for many, it is not the end of the road in dealing with the IRS. Many IRS audits result in balances due. Here are my responses to great questions from a reader about dealing with IRS collections after the audit. I just finished [...]
Currently Not Collectible
The statute of limitations on collection will make most every IRS collection problem come to an end. Internal Revenue Code 6502 puts a limit on how long the IRS can pursue the collection of a tax debt. The timeframe is 10 years from when the IRS puts a liability on its books. But knowing there [...]
The trust fund recovery penalty can cause financial havoc for anyone involved in a business that did not pay over its employee withholdings to the IRS. Internal Revenue Code Section 6672 allows the IRS to investigate those in the business who were part of the decision not to pay the IRS and hold them personally [...]
I was recently interviewed by a journalist for a story about the hardships of having the IRS levy a retiree’s social security benefits. The reporter, who is courteous and professional, would like to speak to anyone who has been affected by the IRS taking their social security. If you would be interested in talking to this reporter, please email me at [...]
When negotiating a resolution to a tax problem, expect the IRS to ask for verification of your living expenses. After verification, the IRS will likely match the amount you spend to their tables of allowances. The IRS wants to know how much you can repay them – and the government relies on their standard expense [...]
ACS can be intimidating – big, impersonal and far away on a 1-800 number. Most IRS collection letters are sent from an Automated Collection Service Center (ACS). ACS handles the incoming calls from the collection notices. It is responsible for levy releases, lien determinations and setting up installment agreements. Here are some tips for successfully navigating ACS: [...]
