For most people, personal finance is a deeply private matter and the idea of revealing their personal financial information to anyone, especially total strangers, can often cause fear and anxiety. However, when taxpayers find themselves with tax debts that they…
You’ve filed your tax return with a balance due and are unable to pay and are unsure what you should do next. Well, within a short period of time after receiving your return, the IRS will begin its automated collection…
The IRS has the authority to enter into payment plans with taxpayers who owe back taxes. In a effort to streamline the processing of these agreements the IRS continues to test expanded criteria for taxpayers requesting installment agreements.
On December 4th President Obama signed the Fixing America’s Surface Transportation Act (“FAST”) into law. While the law focuses on improving America’s transportation and highways, it also contains provisions dealing with collection of back taxes. These provisions allow the IRS…
A CP2000 Notice is typically generated when the IRS computers determine a mismatch of income or deductions between information you reported on your tax return and information documents it receives from third parties.
When you file a tax return and fail to pay the balance due the IRS will begin sending you a series of collection letters or notices. It is important that you understand the process, what the collection letters or notices…
When a taxpayer seeks to reach a tax settlement with the IRS they may be required to consider the national and local IRS collection financial standards when calculating the amount they are expected to pay.
You may appeal many IRS collection activities to the IRS Office of Appeals. The Office of Appeals is separate from and independent of the IRS Collection office that initiated the collection action. The two main procedures are Collection Due Process…