The Federal Tax Levy
What is a Levy or Garnishment? A federal tax levy is the seizure of money or other property by the government to pay off back taxes. It is sometimes called a garnishment, as in the case of a wage garnishment. Before levies begin, the taxpayer will receive at least 4 letters or notices from the […]
Currently Not Collectible (IRS Hardship Program)
IRS Hardship Program It is a regular occurrence that we see clients in our accounting firm who owe taxes to the IRS that they cannot afford to pay. Sometimes it is a tax bill for one year. Frequently it is a tax bill for multiple years. Either way, the IRS offers a number of solutions […]
IRS Tax Relief in 2021
IRS Payment Plans, Tax Liens, Tax Transcripts and More: Navigating the Tax Relief Maze. IRS tax relief includes more than just resolving back taxes. It includes filing missing returns, reconstructing accounting records, interpreting the statute of limitations, analyzing arcane IRS transcripts and the pain and embarrassment of dealing with the IRS. Which way should you […]