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Category: tax collection

What Happens If You Owe Over $50,000 to the IRS?

IRS tax debt

Taxpayers who owe the IRS over $50,000 may have to deal with tax liens, tax levies, and IRS passport actions.  There are many tax resolution options that can be used to protect your property and get the IRS off your back.

Can You Stop the IRS from Taking Your Passport?

Passport denial and revocation

The IRS can ask the State Department to deny your passport application or even revoke your passport if you have seriously delinquent tax debt.  There are several ways to avoid IRS passport actions or to get your passport back after a denial or revocation.

What to do if You Have Unreported Bitcoin Income

Unreported Bitcoin Income

You may need to amend your tax returns and pay additional taxes, penalties, and interest if you have previously unreported Bitcoin income.  If you fail to take action, the IRS may audit your returns as part of its Virtual Currency Compliance campaign.

How to Avoid an IRS Lien Without Paying Your Full Balance Off

Avoiding an IRS tax lien without paying your full tax balance

You can get around an IRS lien by requesting a withdrawal, discharge, or subordination.  Each of these strategies can be useful in different situations, depending on the reason you are trying to avoid the lien.

CDP Hearings – What they are and what one can do for you

Notice of Federal Tax Lien

  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 »

How to Appeal When You are Denied CNC Status

how to appeal currently not collectible status denial

  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 »

5 Ways You Can Use to Stop IRS Garnishment

how to stop irs wage garnishment

The IRS can be quite resourceful when it comes to collecting what they are owed. This allows them to even access and retrieve money from your salary to settle your tax debt.  When it gets to this point one can feel confused and even financially invaded but this is only a last resort of the… Read more »

Why You Should Request a Collection Due Process Hearing

CDP hearing

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.

When Will the IRS Forgive Tax Debt?

tax debt

The IRS does offer tax debt forgiveness options that settle your tax debt for less than what you owe. However, eligibility for these programs is based on your financial situation, so not all taxpayers will qualify. Offers in Compromise The Offer in Compromise (OIC) program provides tax debt forgiveness if your offer is accepted and… Read more »