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 [...]

Negotiating Tax Debt – What is the Process?

Revenue Officers (ROs) are the most capable arm of the IRS. They have total authority over collection of tax debt, which means they can visit the individual at work or home, call, issue summons, levies or liens, seize accounts or property.
Comprised of about 6,000 members, this branch of the IRS only comes into play under [...]

Do I Need a Tax Lawyer for my Offer in Compromise?

Often there are circumstances that arise when a taxpayer has accumulated a substantial tax liability that clearly exceeds any ability to pay in a lump sum. In this situation, the taxpayer should consider hiring an Offer in Compromise attorney to handle the negotiations with the IRS.
The IRS applies the same collection standards utilized in installment [...]