Generally speaking, the IRS sending you an IRS certified mail document is to show the IRS has attempted to give you notice of whatever tax debt issue the IRS wants to address with you. The IRS sent you an IRS certified mail because the IRS wants to protect itself in case, among other reasons, you …
How to Find a Reputable Tax Debt Relief Company – Tips and Tricks Are you struggling with tax debt and looking for relief? The good news is that there are many companies out there that offer tax debt relief services. However, with so many options available, it can be overwhelming to determine which company to …
Can I be held personally liable for unpaid 941 employer withholding taxes? What can be done to avoid this/protect personal assets/income? If you are an owner or officer of a corporation or LLC that has unpaid 941 employer withholding taxes and think that you’re personally off the hook because of your “corporate veil,” think again. …
If you owe taxes, you may wonder, “Can the IRS come after my assets?” The short answer is yes. The longer answer is that before coming after your assets, the IRS must, in almost all cases, issue you a final notice of intent to levy letter, usually titled, “Final Notice, Notice of Intent to Levy.” …
Will The IRS Seize My Assets, Business Or My Residence? Read More »
You’re probably wondering if there really are 5 ways to reduce a tax debt. It may come as a surprise, but the truth is that the law provides more than 5 ways to reduce (or avoid paying) the entire amount you owe. So, unless you love the idea of paying the IRS more than you …
If you receive a CP504 notice, you should take immediate action to address the unpaid taxes with the IRS and avoid the levy of your assets. What is a CP504 Notice? A CP504 notice is a notice issued by the Internal Revenue Service (IRS) indicating that a levy has been placed on a taxpayer’s property …
If you owe taxes to the IRS, you tend to receive a lot of unsolicited advice from friends, complete strangers, cold callers, mailings, and the internet. Sometimes that advice is to file an Offer in Compromise, and to settle your tax debt for “Pennies on the dollar.” But how can you know if an Offer …
When an IRS tax liability goes to collections, it will either be assigned to the IRS Automated Collection System (“ACS”) or to the Collection field function, where a Revenue Officer will be assigned and charged personally with attempting to collect the unpaid tax. Some delinquent accounts will initially be assigned to ACS only to be …
The first thing you need to understand is the mechanics of an IRS bank levy. When an IRS bank levy occurs, banks are required to hold onto your levied funds for 21 days before they can legally release them to the IRS. This 21-day count begins on the day that the bank processes the IRS levy or …
Answer: Depending upon the specifics of your situation, it may be possible to avoid hundreds, or even thousands, of dollars in penalties simply by “designating” IRS installment payments applied toward your tax liability. Keep in mind that payments made in accordance with a formalized installment agreement are not considered voluntary, so you have no right …
IRS Installment Payments: Can I Avoid Back Tax Penalties Read More »
Getting behind on your tax obligations to the IRS is very stressful. Much of that stress stems from IRS collection notices. Not only is a delinquent taxpayer’s mailbox flooded with IRS mail, but that mail almost always contains scary, bolded “PAY NOW” demands, confusing language, and seemingly conflicting numbers. Clients often come to us overwhelmed, …
6 IRS Collection Notices You Absolutely Need to Notice Read More »
Fortress Tax Relief has caring and knowledgeable professionals on staff who would be happy to review your tax scenario over the phone, answer any questions you might have, assess your risk of enforced collections, and recommend a solution tailored specifically to you or your business. There is no charge for a telephone consultation, so pick …
7 Effective Methods of Avoiding IRS Levies and Garnishments Read More »
If you or your business owe taxes to the IRS or the state, you have probably wondered if it is possible to settle your tax debt for less than owed. You may have heard radio or TV ads promising to settle your taxes for “pennies on the dollar” if you “call now!” with The Price …
One of the biggest sources of anxiety for many who have fallen behind with their taxes is whether the IRS or state taxing authority will swoop in, zap their bank accounts, garnish their wages, and seize their home, investment accounts, or other assets. While this nightmare scenario can and does become a reality for some …
Notice of Levy: Will the IRS Seize My Assets Because of My Unpaid Taxes? Read More »
Divorce, death of a family member, cancer, and IRS levies–these are among the most dreaded and stressful events one can experience in life. As a tax attorney whose clients have been levied by the IRS, I can tell you it will be more than a little stressful for the IRS to clean out your bank …
One of the very biggest mistakes that people in collections with the IRS make every day is to simply accept what a lower-level IRS Collection employee tells them. This often means accepting an unfavorable, or even disastrous, outcome that could severely impact the ability of an individual or business to make ends meet. If you …
How to Beat IRS Collections by Navigating the Bureaucracy Read More »
One of the very first things that any individual or business with a tax liability should consider is whether it is possible to obtain an IRS tax settlement that is less than the amount owed. Although it is not easy to reach a tax settlement agreement (aka Offer in Compromise or “OIC”) with the IRS—or …
You may have heard about the screaming deals that some taxpayers have been able to take advantage of to resolve their tax liabilities with the IRS during the COVID era. Like just about everyone, COVID knocked the IRS on its heels. This along with loosened collection procedures has created an environment where indebted taxpayers have …
2022 IRS COVID Tax Relief Programs: Is it Too Late? Read More »
If you or your business owe money to the IRS, the fear of a tax lien might keep you up at night. Will the IRS file a tax lien? When will the IRS do so? What will happen once the IRS files a lien? Before I answer these questions, is important to understand the following …
Most of us have watched a TV commercial or heard a radio ad promising that a phone call to an 800 number will result in settling your tax debt for “pennies on the dollar.” Is this too good to be true? The truth is that most individuals and businesses who have gotten behind with their …
Offer In Compromise Jaw-dropping Success Stories Read More »
