Owing the IRS is nerve-wracking enough without having to worry about losing your house to the tax man. But are your concerns about losing the roof over your head based on reality? Are you really at risk for the IRS to take your house away to pay your tax debt? The good news is that the IRS seizes and sells very few houses - in a given year, it is less than 500 over the entire country. That's out of millions of tax debts owed. In other words, the IRS does not make putting taxpayers out on the street a top priority. For starters, the risk is low. But it does, and can ... Read More
Internal Revenue Code laws that limit the power of the IRS to levy and destroy
If you money to the IRS, you have taxpayer rights. Your rights are in the the Internal Revenue Code, which has laws that limit the power of the IRS collection division to collect, levy and destroy. An IRS collection agent cannot always do what he wants, when he wants. These laws protect you from the collection enforcement powers of the IRS. If you are facing an IRS Revenue Officer or an Automated Collection Service representative, IRS collection laws that are on your side can be golden. For when you need it, here are the most important collection laws and rights in the Internal Revenue ... Read More
Responding to an IRS Final Notice of Intent to Levy: Completing Form 12153
A certified mail slip comes in the mail, with a notation a letter awaits from you from the IRS, likely from the IRS Automated Collection Service. Or maybe an IRS Revenue Officer makes an unannounced visit to your home or work, and after introductions, hands a letter to you. This, you tell yourself, is serious. You get the letter and open it, and find that you have been served with an IRS Final Notice Notice of Intent to Levy, identified in the upper-right hand corner as LT11. Intimidating as it all may seem, you have the right to put the brakes on the IRS's desire to levy your ... Read More
IRS just sent me a final notice of intent to levy – what should I do?
You were brave enough to pick-up and open your certified mail, and there it was - an IRS Final Notice of Intent to Levy. The law is intended to avoid surprises from the IRS and protect you, and the Final Notice of Intent to Levy does just that, giving you notice in advance that they are considering sending a levy to your employer or bank or even taking your personal property or real estate. Now that you are on notice that the IRS wants to gear up its collection activities, what are your next steps? You do have rights. First, it is important to make sure you have received an actual ... Read More
Thinking of calling IRS Automated Collection System? Here’s what to expect.
You just received a batch of IRS collection letters stating that your tax problem is "Urgent," that the IRS might levy your wages, and, finally, that you should call the IRS immediately. You consider doing what the IRS asked - picking up the phone and calling the IRS Automated Collection System (commonly known as "ACS"). The day of reckoning cannot be put off any longer. But the call to the IRS is not always that simple. First, know that when you call, the IRS ACS agent on the other end is trained to immediately ask you a script of questions. Here are the first questions you ... Read More
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