Huwebes, Hulyo 5, 2012

IRS Collection Appeal Program

If you have to protest against collection actions initiated by the Internal Revenue Service, it’s very important to know your rights.  Usually via the Collection Appeals Program or Collection Due Process you can, by law, appeal a number of IRS decisions.

The Collection Appeals Program (CAP) is a course of action that allows a taxpayer to appeal a Federal Tax Lien Notice, IRS Notice of Levy, property seizure, Installment Agreement termination, or rejection of proposed Installment Agreement. On the other hand, there are restrictions. CAP won't, for example, permit negotiations regarding the existence of a taxpayer's liability, nor does it allow you to go to court if you don’t like the CAP results. You should also consider the Collection Due Process..

IRS Form 9423, Collection Appeal Request, is a document that you can file to request Appeals consideration if an agreement cannot be reached with the IRS worker assigned to your case, or with the Collection Group Manager. This document will be reviewed by the IRS Office of Appeals, which operates independently from IRS Collections.

If you wish, you can speak for yourself at all IRS proceedings. Though, it is undeniable that using the services of a tax professional that specializes in tax debt help, such as an enrolled agent or a tax attorney will enhance the likelihood of the IRS accepting a proposal to resolve your tax debt. You may also authorize your tax representative to operate in your absence at the Appeals hearing. To do this, complete Form 2848 - the IRS Power of Attorney and Declaration of Representative..

If you have received an IRS intent to file Federal Tax Levy or Lien or have had a Lien/Levy previously filed, you can use the CAP to appeal this procedure. It's also possible to file a CAP request to appeal seizure of property, unless the property has already been sold.

If you filed a payment plan or Installment Agreement application to the IRS, and they denied it, you may also submit an appeal to object this verdict. Though, your request must be received by the IRS within thirty days from the date on the IRS rejection letter. An IRS decision to terminate an existing Installment Agreement may also be appealed.

The IRS can't carry out any enforcement action for a particular tax period so long as the taxpayer's Appeal request for the same period is being examined by the Office of Appeals; this assumes that it was filed and received on time. Hence, it is very important to have a copy of your submitted request and verification that it was delivered to the IRS.

The information you provide to the Office of Appeals needs to be accurate - make sure of this. If the Office of Appeals decides in your favor, the IRS must comply, unless they find that the information provided was incorrect.

If none of the above collection procedures matches your current circumstances, then bear in mind  that you can also appeal a rejection of an Offer in Compromise, a request for Penalty Abatement, proposed Trust Fund Recovery Penalty, or denied Trust Fund Recovery Penalty Claim. This is detailed in IRS Publication 1660.

It is a must to deal with unpaid tax to avoid any troubles that it could bring. You can get the best information that can help you in resolving it by visiting http://www.2020taxdebthelp.com.

Lunes, Hulyo 2, 2012

Owe Taxes? What Happens Next?

The issue will become worse if you are not proactive about fixing the problem. The IRS will take particular steps to collect the money, along with added penalty and interest charges.

It all starts with an IRS notice to inform a taxpayer about back taxes that is received in the mail. This correspondence has all the necessary details about the taxes owed and the reason why any extra fee was assessed. It also provides you a certain amount of time to have this problem resolved before accruing additional penalties and interest. This is a good moment to get your tax liability taken care of.

If you ignore the received IRS notice, you might receive a telephone call from IRS Collections or a Revenue Officer. A Revenue Officer can additionally visit you in person at your home to discuss your problem and how you plan to repay the owed taxes. During this meeting the Revenue Officer takes a note of the assets you might have. This provides the IRS an estimate of how much equity you have in your property and whether it is worth selling it to have the taxes paid.

The IRS will also file a lien in order to protect its entitlement to collect the amount that you owe if, for example, you make a decision to sell any of your possessions. Prior to the lien being filed, the IRS needs to issue a Notice of Federal Tax Lien - this provides you a chance to appeal it. However, unless there is a mistake and you do not owe the taxes that the IRS claims you do, filing an appeal in response to this notice will not stop a lien from being filed. It may just slow down the process.

A collection technique the IRS will use is a levy. According to the IRS, a levy is a "legal seizure of your property to satisfy your tax debt". There are many different kinds of levies. A bank levy is a process when a taxpayer's bank receives a Levy Notice from the IRS detailing a demand to send all monies available on your accounts to the Internal Revenue Service.

Fortunately, it's not quite as simple as that. You will receive advance warning of a levy and thirty days to appeal it or resolve your back taxes situation before the levy is issued. This will take the form of an IRS Final Notice of Intent to Levy. It’s generally a sensible idea to appeal this right away. The IRS will then assign an Appeals Officer that will review your case, giving you the opportunity to negotiate a repayment option.

Of course, a bank levy isn't the only type of levy that the IRS has in its collection. One more technique available to the IRS is to issue enforced collection through a Wage Garnishment, where they'll send a letter to your employer, demanding a part of your income to be sent to the IRS. Other methods include a levy on Social Security, a levy on your Accounts Receivable if you have a business, and so on. You should do all you can to solve your tax liability and avoid anything like this occurring, as these are very hard to get removed.

It is generally a lot easier to avoid IRS enforced collection than to undo its harmful effect on your assets. If you are unsure where to start, contact a tax debt expert to talk about your alternatives. Many companies provide free consultation, which also helps you to choose which tax professional to hire if you think you should have someone to represent you in this matter.

Miyerkules, Hunyo 27, 2012

Where To Look For Tax Debt Help

Even the most organized people can run into financial problems during their life. The individual has two alternatives at this stage - either create a strategy and fix the problem alone, or obtain professional help. If the issue is one of tax debt, then looking for tax debt assistance is always recommended. Tax debt problems are traditionally complex and tough to fix without the help of an expert that understands the countless complex tax regulations. Fortunately, for this kind of problem, there are a range of places where you can seek support.

The World Wide Web is one obvious source of information. Though there is a huge selection of information that can be found on the Web, please do take care to make certain that any particular information is from a trustworthy source, and accurate. Experts that are skilled in financial help can be found through specialized financial directories that will lead to business websites. Financial forums are another good source of information, full of information on issues, solutions, and organizations to assist with tax liability. A few of the individuals in these forums consist of tax debt experts. Links to supplementary helpful information and businesses that offer help can often be found in the comments. Good information can additionally be found on video sharing sites, if you prefer this format. Though many of these video clips will no doubt be promotional in nature, a number will be instructive, and others may be from experts offering support with tax liability problems.. Once more, be careful to make certain that the information is supplied by a reliable source.

It's easy to be humiliated by having tax liability difficulties, but people should not feel this way. Acquantances may have the ability to help out, so it is useful to explain difficulties to them. It is valuable to recognize that most people face similar financial troubles at some stage in their lives. A similar crisis may have been experienced by friends or family, or they may even be going through an issue right now. They can help to offer help and encouragement. This type of problem is not going to disappear, so you should not ignore it - create a plan and address the difficulty head on.

There are further helpful places to get help, even if they may appear slightly quaint  in these modern times. Examining the yellow pages or the phone book can yield good results if you are trying to find local help. The yellow pages are sorted by category, so it is a reasonably simple matter to find businesses that can be of assistance. An additional good means to find  financial services that wish to help is through classified adverts. Many companies employ online and offline classified adverts as a technique to get the word out about their service choices.

So, it's a reasonably straightforward task to obtain help, but there is still the complex task of deciding on the best company. Signing an empty Power of Attorney is the initial slip many people make - only do this after every part of the documents has been reviewed and contracts are signed. Checking that it's a reputable company is also critical. You'll find a number of ways to do this. Insist on talking to former customers, instead of trusting unverified reviews. You should not be fooled by fake guarantees or claims of resolutions for pennies on the dollar. There can be no guarantee; simply the best resolution allowable by the law. Choose a organization that is financially stable by inspecting its details on Dunn and Bradstreet. Lastly, if it's a respectable business, then it will most likely be signed up with the BBB (Better Business Bureau). Examine the business' record to make sure that they have a high rating. Watch for the scam where companies register with the BBB in one state but operate from a different state.

Tax liability problems can lead to a great deal of anxiety, but there is good support to be had. Most importantly, you should not ignore the problem, or it will merely get worse. Be proactive, by finding professional advice.