The Internal Revenue Code does not make it easy to understand how Federal tax liens work. Hopefully, that is what I am here for. The starting point to understanding your tax lien is to know that it lasts for the amount of time the IRS has to collect from you – 10 years. After the [...]
IRS collection notices
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 seize my house? Levy on my income so I cannot provide for my family? Shut down my business? When do [...]
If you owe the IRS back taxes, the IRS is required to give you a 30 day notice before they can start to levy and seize your property. This warning of levy action is required by law (Section 6330 of the Internal Revenue Code). The final IRS warning letter will have the words “Final Notice [...]
If you owe the IRS back taxes, it is not always enough to just be “right” when negotiating with the government. You need to be right, but you also need to be in the right place and working with the right IRS person. This increases the likelihood of a fair and impartial review of your case. Getting [...]
You promised the IRS a monthly payment that your budget could no longer bear. Or you tried so hard to repay your back taxes that you fall behind on this year’s return. Your intentions are good, but this has caused your IRS installment agreement to default. Where do you turn next? First, it is important to know that the IRS must send you a notice [...]
I received a call today from an enrolled agent for my help with a client who was having problems not only with the IRS, but credit cards as well. As usual, my enrolled agent friend got it right – bankruptcy was likely on the horizon for us to take care of both problems simultaneously. Two basic rules on owing [...]
