Key Takeaways The IRS now runs over 126 active AI use cases from audit selection to automated levy decisions and enforcement timelines have shrunk dramatically. A projected annual gross tax gap of $696 billion is what’s fueling this unprecedented IRS tech investment in 2026. Automated levies can now hit your bank account or wages with
New IRS Technology in 2026: AI Tracking, Automated Levies & Compliance Read More »
Key Takeaways A Notice of Federal Tax Lien (NFTL) attaches to virtually all your assets, real estate, vehicles, and financial accounts once filed by the IRS. You can sell your house or vehicle with a tax lien, but IRS approval is required; the most common path is a Certificate of Discharge via Form 14135.
How to Sell an Asset That is Subject to a Notice of Federal Tax Lien Read More »
Key Takeaways Yes, the IRS can and does shut down businesses for willful, repeated payroll tax noncompliance, including seizing assets, levying bank accounts, and filing federal tax liens. Payroll taxes are treated as “trust fund” money. The IRS views nonpayment as theft because these are your employees’ withheld funds, not yours to use. The Trust
Can the IRS Shut Down Your Business for Payroll Noncompliance? Read More »
Key Takeaways The IRS typically files tax liens 4-6 months after sending initial tax due notices, though they can legally file much sooner Tax debts under $10,000 rarely trigger lien filings, and amounts under $50,000 may avoid liens with proper installment agreements Federal tax liens become public record and can block loans, mortgages, and refinancing
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Summary The Taxpayer Advocate Service (TAS) is an independent IRS organization that helps taxpayers facing financial hardship or unresolved IRS problems. TAS representatives can intervene in cases like levies, wage garnishments, or delayed Offers in Compromise to speed up resolution. It acts as a bridge between taxpayers and the IRS, ensuring fair treatment and timely
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Summary The IRS allows taxpayers to settle their tax debts for less than the full balance through the Offer in Compromise (OIC) program. Net Realizable Equity (NRE) is a key factor in determining eligibility, as it represents the collectible value of assets after discounts and debts. Updated 2025 IRS rules place more emphasis on accurate
Net Realizable Equity Read More »
Summary Currently Not Collectible (CNC) Status is a temporary IRS designation indicating a taxpayer cannot pay their tax debt due to financial hardship. It does not eliminate the debt but delays collection efforts. Eligibility Criteria include demonstrating that your income and necessary living expenses are insufficient to cover your tax liabilities. The IRS may require
Can I Resolve Back Taxes By Qualifying For Currently Not Collectible Status? Read More »
Summary IRS levies and garnishments can severely impact your finances if not managed properly. Staying in regular contact with the IRS and understanding your rights are crucial. Options like Installment Agreements, Currently Not Collectible (CNC) status, and Offers in Compromise can prevent or stop levies. Demonstrating economic hardship is a powerful tool to obtain levy
7 Effective Methods of Avoiding IRS Levies and Garnishments Read More »
Many businesses rely on the use of their accounts receivable or inventory as collateral for loans or for factoring. However, in my experience, few business owners fully grasp how devastating the consequences can be if they engage in this type of financing and fall behind with federal taxes. Unfortunately, fully grasping this concept often does
Understanding the IRS 45 Day Rule for a Federal Tax Lien Read More »
One of the most frustrating situations my clients confront is the IRS’s addition of large amounts of tax or Civil Penalties to tax periods that ended a long time ago. There can be several reasons for additions to tax or Civil Penalties, but the most common ones I encounter are reporting and reconciliation deficiencies across
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If you or your business have gotten behind with the IRS, a tax settlement, also known as an Offer in Compromise (OIC), might be the best way to get rid of your tax liability—if you qualify. There are three general categories of OICs: Doubt as to Liability (I don’t actually owe this tax), Effective Tax
Get a Tax Pro to Settle Your IRS Tax Liability (OIC) Offer in Compromise Read More »
