When you owe the IRS money in back taxes, the federal agency can use a variety of ways to obtain the debt, including assessing a bank levy. This means the IRS can place a freeze on your accounts and seize the money until your tax debt us satisfied. To try to have the bank levy… Read more »
If you’re having tax problems
Category: Collection Due Process (CDP)
Do you owe money to the IRS that has resulted in a Notice of Federal Tax Lien being filed, or a levy action being taken? If you think this action is unwarranted, you can file a Collection Due Process appeal. If you are facing these actions, find out how hiring a tax attorney can help… Read more »
The IRS can generally seize your assets when you fail to pay your tax debt and the IRS has sent you the proper notices in the mail. Even if you owe tax debt and have received these notices, you can still protect assets if you negotiate a resolution to your tax problems.
There are several ways to avoid an IRS levy without paying your full tax liability. You’ll need to request a Collection Due Process (CDP) hearing before the appropriate deadline if you want to stop the bank levy, wage garnishment, or another type of IRS tax levy. The most common ways to stop a levy are:… Read more »
If for some reason, you find yourself defaulting on a tax payment or two, the IRS will take steps to recover that debt. This could be through IRS levies, allowing them to seize your assets, taking money from your accounts or through a Notice of Federal Tax Lien (NFTL). By law, the IRS must… Read more »
Currently Not Collectible (CNC) status can provide you with temporary relief from tax debt collection efforts by the IRS. However, if you applied for but were denied CNC status, all hope is not lost, as you have the option to appeal this ruling. A tax attorney can be a great ally during this process… Read more »
You may appeal the filing of an IRS tax lien on your property using either the Collection Due Process (CDP) hearing or the Collection Appeals Program (CAP). Each program has slightly different requirements, so discuss your case with a tax attorney to determine which appeal method best fits your situation.
The Collection Due Process (CDP) hearing is one of the most important rights given to taxpayers. It’s your final opportunity to stop an IRS levy of your assets or the filing of a federal tax lien against your property.
Once you receive a Notice of Intent to Levy from the IRS, a bank levy or other enforced collection action is imminent. You need to take action immediately if you want to avoid having the money in your bank account seized and applied to your tax debt.