No one likes facing debt collectors, but the one most people dislike more than any others is the IRS. The IRS possesses power to collect past taxes as well as penalties in many ways that other collectors cannot. If you receive a notice that the IRS is trying to collect back taxes, you need to contact an experienced tax attorney who can help you.
You may be tempted to ignore it, but doing so will not make it disappear. Ignoring them for too long may actually make it impossible for you to appeal. They have a lot more far-reaching powers than other bill collectors do. They can go to great lengths to collect the money due them.
The IRS can issue a lien against any assets you have like a car or house. If a lien is issued on a house, you would have to pay it before refinancing or selling it. The IRS can seize equity in the home in order to pay the lien as well.
They can take possession of your car, home, boat or retirement accounts and liquidate those assets to pay a past debt. They can also garnish your wages and liquidate your bank accounts.
If they have issued a final tax amount and issues you a Notice of Tax and Demand for Payment and the amount remains unpaid, they will issue you a Final Notice of Intent to Levy and Notice of Your Right to a Hearing at least 30 days before they issue a levy.
Tab Burkhalter is an experienced tax attorney who has assisted many clients in negotiating with the IRS. He can help you work out a payment plan with the IRS to satisfy a lien. Call our office today for your free, initial consultation.