Do you have or know someone with a tax levy? A tax levy is serious, it is the actual seizure of a taxpayer’s property by either the IRS or a State Tax Agency. It is one of the final steps in the enforced collection process and is usually exercised only after all previous attempts to… Continue reading →
IRS Notice
Tax Liens – How to Remove an IRS or State Tax Lien From Your Credit Report
The most effective tool the IRS has for collecting tax debt are tax liens. What’s worse is that they are very difficult to get removed. Even after you pay off the tax debt, the tax lien will stay on your credit report for up to seven years. Only after they have expired will they be… Continue reading →
Penalty Abatements and Penalty Waivers. What are they and how to qualify.
Penalty Adjustments and Penalty Waivers The assessment of penalties and interest are methods designed by the IRS and State Tax Agencies to encourage the timely filing and payment of taxes. These charges are imposed when a taxpayer fails to meet a filing deadline or fails to pay a tax amount when it is due. The… Continue reading →
Tax Liens – How to Avoid Your Information Being Published
In order to encourage compliance in the payment of outstanding tax debts, the California Franchise Tax Board is authorized to publish a list of the 250 largest state tax delinquencies in excess of $100,000. The list only includes amounts for which official tax liens have been recorded. Since the list is a matter of public… Continue reading →
He Owed the IRS $80,000 in Back Taxes. We Reduced His Tax Debt to Zero!
Steve H. came to Professional Tax Resolution after receiving notice of a wage garnishment from his largest customer. Steve, a technology consultant, had failed to file tax returns for six years and, according to IRS calculations, owed over $80,000 in back taxes, penalties and interest. Tax settlement plans for taxpayers with numerous un-filed tax returns… Continue reading →
IRS Debt – How did that happen? Now what do I do?
Incurring an IRS Debt Most people who have IRS debt do not find themselves in that situation due to an unwillingness to pay their fair share of taxes. It is much more common that taxpayers find themselves owing the IRS either due to a mistake on a previously filed income tax return or some unavoidable… Continue reading →
