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
Tag: Payment Plan
Every year you are required to file a tax return with the IRS. Failing to do so can have numerous consequences, from penalties to criminal charges. Learn more about what you can expect if you have unfiled taxes, what options you have, and how a tax attorney can help. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Key Insights We Will Discuss What… Read more »
When you owe money to the IRS, you can typically set up a payment plan. But what happens if your financial situation changes before you’ve completed your payments, and you default on your plan? Find out what to do if you default on your IRS payment plan, and how a tax attorney can help.
An IRS installment agreement is one of the best ways to resolve your tax debt problems. You can avoid most types of IRS collection actions and pay off several years of tax debt as long as you make your monthly payment.
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.
Owing money to the IRS is common for almost every working individual in the US. However, a lot of these affected individuals are not aware of the payment options available to them. The IRS has set up tax payment options that can be applied for people in different financial situations. This is established through… Read more »
Several factors will influence how long it takes to pay off your tax debt, including the amount of your balance, how old the tax debt is, and your overall financial situation. You may be able to settle your tax debt relatively quickly if you have low income and few assets. In other cases, you… Read more »
If you want to pay off your installment agreement faster, you have a few different options. The flexibility offered by IRS payment plans allows you to pay more if you are able to, which allows you to cut down your balance and minimize penalties and interest.
How to Stop an IRS Levy When the IRS is about to levy your assets, you should look for any possible opportunities to stop or delay the levy. Once the levy happens, it’s very difficult to get that property back, but there are several ways to stop a levy before it takes place.