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Tax Problem Resolution – Top 4 IRS Tax Issues
We’re now comfortably into the new year, which means that we’re now in the midst of tax season. For those of you looking for tax problem resolution services, now is the time to step up your search to ensure you’re well-prepared when the time comes to tackle those dreaded taxes. Tax problem resolution services are very highly sought after at this time of year, but precisely why is that? Well, there are actually a number of reasons why people may choose to hire professional tax services and experts to handle their IRS tax problem resolution issues. In no particular order, here’s a look at the top 4 IRS tax issues.
Bank LevyA bank levy can be imposed if the IRS believes that you owe them money for any reason, like unpaid back taxes, or unfiled tax returns. The IRS will send you, by mail, a Notice of Intent to levy. Once you receive this in the mail, you will then have 30 days from the date printed on the letter, until the IRS can levy your account. Upon notice of levy, the IRS can seize all of your funds in your bank account, and freeze them, to prevent you transferring them to another account or removing them. Before these funds are surrendered to the IRS, by law, the IRS must wait 21 days. If the issue is not resolved during these 21 days, the IRS can then seize your funds to pay off what you owe, including penalties and interest.
IRS Tax LienAnother top reason why people seek tax problem resolution services is because of IRS tax liens. Liens, or Federal Tax Liens, establish the IRS as secured creditors. This legally gives them the power to seize your assets to pay off any money they believe you owe them. Once the IRS establishes that you owe them money, you will receive a notice and demand for payment to be made within 60 days.
Wage LeviesWage levies can be issued by the IRS, again, to ensure that you pay them any money they believe that you owe, like unfiled tax returns and or unpaid back taxes. A wage levy will be issued to your employer, meaning that a large percentage of your paycheck every week/month, will be taken by the IRS to pay off your tax debt. You will again receive a Notice of Intent to levy in the mail, and you will have 30 days until the levy can be placed upon your wages. If your wages are levied, garnished, or you’re worried they may be, seek out our professional tax problem resolution services as soon as possible, and let our tax relief experts handle things.
Property SeizuresAs we mentioned previously, the IRS has the power to seize your assets in some cases, to help ensure that your tax debts to them are paid off. This means that the IRS can potentially seize your car, your home, your business, real estate, and anything else, before auctioning it off in order to clear your unpaid tax debts. What’s more, if the auction money is less than what you owe, you will still need to pay what is left. This is a nightmare scenario that nobody should ever have to face, so again, contact Mike Habib, EA, the IRS tax problem solver and retain our tax problem resolution services experts to help get a handle on your tax nightmare.
We also help with IRS, FTB, EDD, CDTFA, BOE tax audits, appeal, employment 940/941 payroll matters, installment agreements, offer in compromise and other tax matters.
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