Sometimes, when negotiating with the IRS collection division, results can be based not only on the strength of your case, but also on who you talk to. Are you dealing with an IRS Revenue Officer? They're the highest-level enforcement agent, with the most power to levy your wages or accounts. Or are you on hold with the IRS Automated Collection System (ACS), anxiously waiting to talk to an IRS collection agent halfway across the country? The better approach to dealing with a Revenue Officer or ACS representative is taking negotiations straight to an IRS Settlement Officer. Here's ... Read More
Received IRS Notice LT16? How to respond and prevent an IRS levy.
You just received IRS Notice LT16, warning that your unpaid taxes have been assigned for immediate enforcement action. The letter gives you three options: (1) within 10 days, send a check to the IRS to pay your taxes, (2) call the IRS to make payment arrangements, or (3) face the prospect of an IRS levy on your wages and property. Everything has been quiet on the IRS front for a while, but suddenly, now, it appears the IRS is getting ready to rear its ugly head. Let's get to the realities of the LT 16 letter, and your best responses to protect your property from an IRS levy. First, ... Read More
Become fluent in the language of IRS collection agents
An IRS collection agent throws a word or phrase your way, and you have no idea what he is talking about. As they say, it is all Greek to you. And too much is at stake to bluff your way through it. A wrong move or misunderstanding could result in a levy on your bank account, wages, or seizure of assets. How can you negotiate yourself out of trouble with the IRS if you don't understand the language of IRS collection agents? To even the playing field, here are the 10 of the most important terms you should know when you owe back taxes to the IRS: 1. IRS Revenue Officer. This ... Read More
It’s okay to disagree with the IRS: Knowing your appeal rights
Do you disagree with the IRS, and are becoming frustrated because no one is listening? Maybe you are under audit, and the IRS Revenue Agent is being difficult, taking unreasonable positions, or proposing changes to your tax return that are wrong, but refuses to see it your way. Or maybe you already owe money to the IRS, and their collection division is coming on strong, requesting payment terms you cannot afford, or levying your assets. You do not need to feel like the IRS has the upper hand. IRS power does need to be respected, but at the same time there are options to even the ... Read More
When can the IRS levy? Notices CP504 vs. LT11
My grandmother used to have saying about people, always telling me "It's what inside that counts." It was her way of telling young Howie to not to judge a book by its cover, that looks can be deceiving. Little did I know that one day that advice would apply to IRS collection letters. Yes, on the surface, IRS collection letters look the same, and those looks can often be very misleading. One of the biggest offenders is the IRS Notice of Intent to Levy. As part of its collection process, the IRS sends two different letters, each called a Notice of Intent to Levy. On their ... Read More
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