If you get any notice from IRS for a minor tax offence or back tax issues. Contact Long Island Tax Resolution Services tax consultants to appeal against to IRS to solve your tax problems.
When will irs collection actions be taken against you?
1. What tactics can the IRS use against me to collect taxes?
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1) How serious is the IRS about back taxes?
• IRS views unpaid back taxes very seriously.
• The IRS is going to come after you to recover everything you owe them.
• You might be able to hide for a few months or years without any action
from them.
• But eventually, the IRS will catch up with you.
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2) How and When the IRS Will Initiate Collection Tactics against You
• Failure to comply with the IRS rules and regulations will result in dire
consequences.
• Not paying your tax debts or committing tax fraud are crimes.
• IRS uses many collection methods to recover the taxes you owe them.
• It can be very damaging to your financial stability, and get progressively worse.
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3) IRS Collection Methods Include:
• Wage garnishments
• Levies
• Liens
• Property seizure
• Cancellation of business license
• Closure of business
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4) The IRS Collection Process
• If you do not pay in full when you file your tax return, you will receive a written
notice stating the amount you owe.
• The IRS won’t start Collection process without informing you
• The IRS sends you a series of notices.
• The first IRS letter explains the balance due and demands payment in full.
• If you’ve received any of these notices, it’s time for urgent action.
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5) The IRS notices are in the following order:
• CP-14: The first notice, which begins the IRS collection process and is a bill of unpaid taxes.
• CP-501: The second notice that usually arrives after 5 weeks of inaction on your part.
• CP-503: The third notice that arrives in another 5 weeks to remind you of your tax debts.
• CP-504: The fourth notice called ‘Intent to Levy’, threatens to seize your state income tax
refunds.
• Letter 1058: This notice is the ‘Notice of Intent to Levy and Notice of Your Right to a
Hearing’.
• IRS will start taking action against you after another 30 days.
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6) You Can Appeal Against the IRS Decision
• Even if IRS initiates a Collection process against you, there is still something that can be
done.
• You can appeal to the IRS if you feel that you have been unfairly targeted.
• It is possible that you have been targeted because of misinformation or a mistake.
• You have the Freedom of Information Request and Appeals Process at your disposal.
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7) When can you appeal to the IRS?
• It is possible you cannot pay your taxes because of genuine financial hardship.
• In genuine cases, you can appeal to the IRS.
• The IRS is not an evil organization.
• If IRS thinks that the taxpayer’s case is genuine, they surely consider an exception.
• You can apply for the ‘Currently Not Collectible’ status in cases of financial hardship.
• Make sure you can prove you can’t pay taxes.
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8) The IRS will check the following information before considering your request:
• Your gross monthly income
• Your allowable monthly expenses
• Your assets that can be liquidated
• Your total IRS back tax liability
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9) How to Avoid IRS Collection Tactics
• To put in a simple sentence, pay your taxes on time and in full.
• If you’re not able to do so, at least let the IRS know by requesting more time
• Qualify as ‘currently not collectible’.
• Providing incorrect or incomplete information to the IRS is dangerous.
• If you receive IRS notices, respond to them in a timely fashion.
• It is highly recommended that you hire a certified tax professional
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10) Bottom Line
• The bottom line is, if you avoid paying your taxes and refuse to communicate
with them, the IRS will come after you.
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11) Contact Long Island Tax Resolution Services
• Long Island Tax Resolution Services provides expert help in dealing with IRS
Collection Notices
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