Tina Pittman is a founding member of Your Accountant, LLC and specializes in tax, accounting and business consulting services for small business entrepreneurs.
If you owe the IRS money any of the following are possible punitive measures:
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.
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:
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.
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