Tax Relief Blog
Avoid an IRS Tax Lien
Oct 26, 2015 by
Avoid an IRS Tax Lien
When you request your Guaranteed or Streamlined Installment Agreement from the IRS, also ask if the Service will defer the filing of a Notice of Federal Tax Lien (NFTL).The Internal Revenue Manual states the following in section 5.12.2.3.1:
"An NFTL [Notice of Federal Tax Lien] filing determination is not required on Guaranteed/Streamlined Installment Agreements or In-Business Trust Fund Express Agreements."
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IRS Final Notice of Intent to Levy
Oct 19, 2015 by
IRS Final Notice of Intent to Levy
The IRS is required to notify you before seizing your assets. This means that you'll receive a Final Notice of Intent to Levy in the mail prior to receiving a bank levy or wage garnishment.
A Final Notice of Intent to Levy (Notice LT11, Notice CP90, Letter 1058) gives the taxpayer Appeal rights. You may request a Collection Due Process (CDP) Hearing if you disagree with the IRS' intent to take your assets as payment for the tax. The IRS allows 30 days fro...
Offer in Compromise Appeal, Form 13711
Oct 12, 2015 by
Was your Offer in Compromise rejected by the IRS? If so, you may Appeal the initial rejection using IRS form 13711. Be sure to complete the form completely and attach any substantiation documents you may have to support your reasoning for the Appeal.
You may disagree with the Offer Specialist that reviews your OIC package. A disagreement over one or two monthly expenses could make or break your Offer. So could a dispute over an income producing asset or any number of items that could i...
Protect Your Bank Account Balance in an Offer in Compromise
Oct 5, 2015 by
If you've looked at IRS form 433-A(OIC) closely, you've seen the $1,000 exclusion the Service allows for bank accounts. What you may not know is that the IRS may also allow you to exclude one month's living expenses from the balance in your checking account at the time you submit your Offer in Compromise.
If you'd like to know more about the IRS Offer in Compromise, check our website, then call us to find out how we can help.