Do you have previous tax returns that you have not filed? Perhaps this was due to procrastination or in a misguided attempt to avoid paying taxes? To limit the penalties the IRS can assess, including criminal charges, it is of the upmost importance that you act quickly to remedy this situation.
If you’re having tax problems
Tag: IRS notices
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 »
When you owe the IRS money in back taxes, you are expected to pay it back either in one lump sum or by setting up a payment plan. Failure to pay the taxes – or to follow through with the agreed-upon payment arrangement – can cause the IRS to take action. One type of… Read more »
You might be unaware that you have unfiled tax returns until you get a notification from the IRS. These notifications can take on many forms, so it’s important to hire a tax attorney to help guide you through the paperwork and the next steps to navigate the exemptions, credits, and deductions you are entitled to.
What We Are Going to Cover: – Ignoring your tax debt won’t make it go away. In fact, it will only get worse. – The IRS is willing to work with taxpayers who have tax debts they cannot pay – 10 Reasons you shouldn’t ignore your tax debt: IRS notices Automated Collections Tax refund seizure… Read more »
No one likes when the IRS reaches out to them. The agency is like that one neighbor you never liked as a kid who never got the hint and just kept coming over. Chances are, he’s gonna call today too. The IRS sends millions of letters each year to taxpayers who, quite frankly, don’t… Read more »
Back taxes are bottomless pits. They come along when you fail to disclose all your income, don’t file your tax return, or don’t pay all your taxes. No matter how innocent you are, that first step toward back taxes can cost you much more in future. It can be a daunting task to try to… Read more »
If you receive a Notice of Intent to Offset, your tax refund is going to be seized and put towards debt you owe to the IRS or another government agency. As part of the Treasury Offset Program (TOP), your tax refund checks are matched against any outstanding debts you owe a federal or state… Read more »
Letter 2566, Notice of Proposed Tax Assessment The first notice you’ll receive about a Substitute for Return (SFR) is typically a Letter 2566, Notice of Proposed Tax Assessment. When you receive this notice, the IRS is telling you, “You were supposed to file a tax return but didn’t, and here’s how much we think you… Read more »