If you owe the IRS money any of the following are possible punitive measures:

• Incur interest and penalties

• Garnish your wages

• Levy your bank account

• Close down your business

• File a lien against you

• Seize and sell your home/vehicle(s)

• Assess you personally for corporate employment taxes

• Contact friends, family, neighbors, banker and business relationships concerning your tax liabilities

• Put you on a payment plan you can’t afford

• Forfeit your future IRS refunds

You may file for Innocent Spouse Relief for a spouse that has nothing to do with the IRS debt.

If you can’t pay back taxes the list below are your options. It is not recommended to make an arrangement with the IRS by yourself, seek professional help from a CPA or Attorney.

• Hardship suspension

• Installment payment agreement

• Bankruptcy

• Offer in compromise

• Penalty Abatement

• Amend your return(s)

Yes, once the IRS files a levy it permits the legal seizure of your property including your bank account(s) to satisfy debits. 

Individual tax payers can all the IRS at 1-800-829-1040 Monday through Friday, 7am to 7pm. You can also retrieve the amount online at irs.gov and search “view your account information” to create or view your account. 

If you owe back taxes, the IRS will keep any refund from future tax returns even if you are on a payment plan. 

The IRS will mail you correspondence to the address they have on file. If you receive a call, hang up and dial 1-800-829-1040.  Do not give the caller any personal information. 

No, the IRS must give you ample notice before wage garnishment starts. 

It is not recommended to make an arrangement with the IRS by yourself, seek professional help from a CPA or Attorney. Some methods to stop the IRS from garnishing your wages include:

• Pay off the tax debt

• File bankruptcy

• File for a hardship suspension

• Negotiate with the IRS to pay less than you owe

• Set up an installment payment agreement

Yes, the minimum monthly payment for your payment plan depends on how much you owe. However, if you can’t afford to pay your minimum monthly payment you may qualify for tax forgiveness. It is recommended to have a CPA, that is experienced with back tax issues, assist you with negotiations.