Ohio IRS Archives - Cincinnati IRS Tax Attorney Howard Levy

IRS account transcript: What’s on it, and how can it help you?

By Howard S. Levy, Esq., Bankruptcy and the IRS, Cincinnati Ohio IRS, IRS audits, IRS Collection Problems, IRS levies and property seizures, Ohio IRS, Statute of limitations on collections, Substitute returns, Unfiled returns

Proceeding blindly is something that you rarely want to do with the IRS. If you owe back taxes, or have unfiled returns, or are in any way concerned about an IRS problem, it's best to first find out what the IRS knows about you. What is the IRS doing on your account? What can they can do to you? What is the current status? This information about you can be obtained from an IRS account transcript. An IRS account transcript can tell us: 1. If the IRS can levy your bank accounts and wages, or seize your property. The IRS cannot levy your income or seize your property unless ... Read More

An IRS letter that you want to receive: Case Closed – Currently Not Collectible

By Howard S. Levy, Esq., Automated Collection Service, Currently Not Collectible, Economic hardship and the IRS, IRS collection notices, IRS Collection Problems, Ohio IRS, Statute of limitations on collections, Uncollectible

There are many options to resolve an unpaid tax liability - you can agree with the IRS to make monthly installment payments, reach a settlement with an offer in compromise, eliminate the taxes in bankruptcy, or have the IRS place your account in currently not collectible status. Let's focus on currently not collectible. Currently not collectible status occurs when the IRS agrees that you cannot afford to repay the debt, and doing so would create an economic hardship on you. It is forbearance by the IRS, a break from enforcement that can last years. To obtain currently not collectible ... Read More