If an IRS tax lien is hurting your credit, or stopping you from purchasing a house or car, the IRS offers a path to freedom. The IRS will withdraw the lien from public record in the following circumstances: 1. The amount you owe is under $25,000. But this is flexible – see [...]
IRS Collection Problems
When working with an IRS Revenue Officer, there are two warning signs that levy action is imminent. The first sign is the IRS Final Notice of Intent to Levy. This notice is required by law (Internal Revenue Code 6331) and provides a 30 day right to stop levy action by filing an administrative appeal. The [...]
There are many options to resolve an unpaid tax liability – you can agree with the IRS to make monthly installment payments, reach a settlement with an offer in compromise, eliminate the taxes in bankruptcy, or have the IRS place your account in currently not collectible status. Let’s focus on currently not collectible. Currently not [...]
Falling behind on filing your taxes can be scary, filled with questions and doubt about how to make it right with the IRS. Fortunately, there are steps that can be taken to satisfy the IRS and get you back into the system. Here are 10 things you should know about getting current with your unfiled [...]
If you owe money to the IRS, chances are you have justifiable concerns over the IRS involuntarily taking your property to pay the debt. But the IRS releases statistics on what they levy and seize. This provides valuable direction as to what is really at risk for you rather than losing sleep and energy worrying [...]
The general rule is that a Federal tax lien attaches to all of your property. But there are exceptions – known as “superpriorities” – situations in which you can sell your property even though the IRS has filed a tax lien against you. The tax code will allow you to sell your car to a [...]
