IRS collection efforts are resuming from where they left off when COVID-19 first hit. The IRS has started sending their CP500 collection letters demanding payment. The IRS is making it clear that they are not going to remain quiet, as they were at the beginning of the pandemic. Expect the CP500s as the first wave of more aggressive IRS action to come. Let's start with a little background on COVID's initial impact on IRS collection enforcement. COVID's Initial Impact on IRS Collection Enforcement When COVID began, the IRS closed its offices, including all of their collection ... Read More
Collection statute expiration date nearing: How aggressive will the IRS be?
You have patiently waited for your IRS collection statute expiration date to arrive. But you anxiously wonder: As the collection comes closer to an end, will the IRS rear its ugly head and become aggressive? After all, the IRS isn't just going to sit quietly and let your tax debt simply disappear without a fight. They are going to want to make a last-minute push to see what they can get, right? Fortunately, the beast should not awaken and disturb you. Here's why your collection end date should pass with barely a whimper from the IRS: If you are in an installment agreement, ... Read More
IRS collectors can say the darndest things – are they true?
You pick up the phone, and call the IRS Automated Collection Service, maybe with some questions, or just to try to resolve your account. Or you have a meeting with an IRS Revenue Officer, who has contacted you to investigate your finances and gather any unfiled tax returns. During the conversations, statements will be made to you about how the IRS collects taxes, and what they can do to you, and what your rights are. The good news is few IRS agents will lead you astray, are familiar with the tax laws that regulate the IRS's collection power, and will give it to you straight. But ... Read More
IRS computer-generated collection letters: How to protect yourself.
A common fear is that an IRS agent may show up one day at your door, take your house, your wages, and your property. But if the IRS wants to get your attention on a tax debt, chances are you can expect to find an aggressive collection letter in your mailbox rather than find them at your front door. The IRS only has a few local collection agents, with most enforcement staffing located at several call centers, known as the IRS Automated Collection System. As the IRS has more computer resources than local agents (known as Revenue Officers), they assign most cases to call centers. Only ... Read More
How to avoid IRS Form 433A financial disclosures
A local IRS collection agent, known as a Revenue Officer, has contacted you, possibly with a surprise visit to your home or work. The Revenue Officer has been assigned your IRS debt for collection, and is about to launch a full investigation into your finances. Or, maybe you are getting up the nerve to give the IRS Automated Collection Service a call, prepared to discuss your debt and make payment arrangements. Either way, at the core, the IRS wants to know how they can get paid. They will want the following information: Where you bank, and how much is in the account. Name of ... Read More
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