IRS Tax Levy
Getting Your IRS Tax Levy ReleasedBefore an IRS Tax levy is placed on wages, bank accounts, tax refunds, etc.,...
IRS Tax Levy – How To Protect Social Security Benefits
The Federal Payment Levy Program (FPLP) allows for certain Social Security...
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Tax Settlement
Tax Debt – The Automated Collection SystemThe Automated Collection System (ACS) is the collection method most often implemented by the IRS. Millions of Americans nationwide have experienced or are currently experiencing this system. Often the first notification most taxpayers have that they have developed tax debt, the ACS is a largely computerized system and sends almost all of the... [Read more of this review]
IRS Penalty Abatement – Reasonable Cause
The Internal Revenue Service charges IRS Tax Debt penalties and interest for failing to submit payment or file a tax return by the appropriate due date. While these charges are constructed to ensure proper and prompt payment and submission of documentation, they can add a substantial amount of debt onto the taxpayer’s initial liability, oftentimes... [Read more of this review]
Installment Agreements – Successful Tips
Whenever a taxpayer has a back tax problem, they must make sure that they deal with it right away. The first IRS program that many people go to is the Offer in Compromise program. But considering that approximately 85% of taxpayers with back tax issues do not qualify for an offer in compromise, negotiating an installment agreement may be the next best... [Read more of this review]
Getting Your IRS Tax Levy Released
Before an IRS Tax levy is placed on wages, bank accounts, tax refunds, etc., a Notice of Intent to Levy will be sent to the taxpayer, along with the individual’s rights to appeal the levy. If an individual does not respond in time to negotiate an alternate means of collection through any other IRS tax resolution strategy, such as seeking an Offer... [Read more of this review]
IRS Tax Levy – How To Protect Social Security Benefits
The Federal Payment Levy Program (FPLP) allows for certain Social Security (SS) benefits to be subject to an IRS tax levy. In fact, all benefits described in the Social Security Act, Title II, may be levied, which includes, Survivors, Disability Insurance, and Federal Old-Age Benefits. To pay a tax liability, a 15% IRS tax levy may be assessed on any... [Read more of this review]
When Does Tax Debt Lead to A Tax Levy
Levies and liens are often confused. While a lien is merely a security for tax debt, a levy, on the other hand, is the process by which the asset is seized and sold to reconcile tax debt. An IRS tax levy can be assessed after: (1) The IRS sends a Notice and Demand for Payment; (2) The taxpayer fails to pay off the tax debt; (3) The IRS sends the Final... [Read more of this review]
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