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By: Patricia Gilmore

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Wednesday, 14-Nov-2012 21:58 Email | Share | | Bookmark
Places To Look For Tax Debt Help

Even the most organized people can encounter financial problems during their life. At this point there are two potential alternatives - either find professional support, or devise a strategy and solve the problem by themselves. Seeking assistance is always a good idea if the issue is one of tax debt. The myriad of complex tax guidelines make tax debt issues complicated, and hard to fix, without the assistance of an expert. There are a range of places where you can find assistance for this kind of problem.

The World Wide Web is one obvious source of information. While one must be careful to ensure that any particular information is from a trustworthy source, and correct, there is a huge selection of knowledge that can be found on the Web. Experts that are skilled in financial help can be found through specialized financial sites that can lead to business websites. Other good sources of information are the financial forums; these are filled with information on businesses, issues, and options to help with tax problems. Some of the participants in these forums consist of tax debt professionals. Links to supplementary useful information and companies that offer advice can sometimes be found in the comments. Alternatively, check out the video sharing internet sites where decent information can be found. A few of the videos will be instructive, while many will be marketing and promotional videos from specialists presenting their services for tax debt issues. Once more, do take care to make certain that the information is supplied by a trustworthy source.

Tax liability difficulties can be a source of humiliation for certain individuals, but people shouldn't feel this way. It's useful to explain issues to acquaintances that may have the ability to help. Experiencing financial problems is nothing new, and something that lots of people experience in their lives. Friends or family may have a comparable issue, or have dealth with a problem in the past. They can help to offer help and encouragement. Developing a strategy to deal with the problem is essential - this type of problem won't disappear.

There are additional useful places to get help, albeit they may look slightly quaint in these modern times. If you areparticularly seeking local help, decent results may be found in the yellow pages, or the phone book. It is a relatively straightforward matter to find businesses that will help in the yellow pages, as the whole thing is sorted by category. Another good way to find financial services that will assist is through classified adverts. Many companies use online and offline classified ads as a way to market their service choices.

Choosing the best organization can still be a complex matter, albeit it's a reasonably simple matter to locate businesses that are willing to assist. Signing a blank Power of Attorney is the initial error many people make - only do this after all the documents has been reviewed and contracts are signed. Making sure that it's a trustworthy business is equally critical. There are a variety of ways to do this. Do not trust unverified reviews, but confirm by requesting to talk to previous clients. You should not be fooled by fake guarantees or claims of resolutions for pennies on the dollar. All that can truly be achieved is the best resolution allowable by the law; there cannot be any guarantees. Choose a company that is financially secure by inspecting its record with Dunn and Bradstreet. Lastly, if it is a reputable company, then it will most likely be registered with the BBB (Better Business Bureau). Be certain that they have a good rating by looking at their record. Certain businesses will register with with the BBB in one state, but work from another - be wary of these scams.

A a great deal of stress can result from tax debt issues, but good help is out there. Be proactive, and find specialist assistance, instead of ignoring the situation and allowing it to get worse. There are lots of tax advisors out there that can give you aid with your tax problem. Choose the trusted and reliable one. For more information, get some time to check this link.

Tuesday, 6-Nov-2012 21:35 Email | Share | | Bookmark
Understanding Tax Liens And Levies

The issue will get worse if you are not proactive about resolving the issue. The IRS will take specific actions to collect the money you owe, along with added penalty and interest charges.

The initial step of the process is that you will get a letter from the IRS to inform you of the back taxes and the balance outstanding, including any accrued penalties and interest. This is the right time to rectify the situation, as you'll have a specific length of time before you may incur extra penalties and interest.

Ignoring the received IRS notice might lead to a telephone call from IRS Collections, a telephone call from a Revenue Officer, or even a visit from a Revenue Officer. They will want to discuss the issue, and understand how you intend to resolve your tax liability. During this meeting or phone call, they will also be assessing any equity you might have that could be sold to cover your tax debt.

So, you have received your notice, but you haven't paid off your back taxes. What comes next? You'll probably receive an IRS Notice of Federal Tax Lien. Basically, this indicates that the IRS intends to protect its position by ensuring that you do not sell off any of your possessions. There's little that you can do at this stage. An appeal might delay the process, but, unless there's a mistake and you do not owe the taxes, it is not likely to be successful.

A collection system 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 a number of kinds of levies. A bank levy is a method when the taxpayer's bank receives a Levy Notice from the IRS with a demand to send all monies on hand on your accounts to the Internal Revenue Service.

Prior to issuing a levy, the IRS needs to inform you by sending a Final Notice of Intent to Levy to your mailing address. This notice offers you thirty days to file an appeal, or have your problem resolved by paying the balance in full, or negotiating a repayment option with the IRS. It is a good idea to appeal a Final Notice of Intent to Levy as soon as you get it. In this case the IRS will assign an Appeals Officer to examine your case, which may be your opportunity to talk about your payment options.

Not surprisingly, a bank levy is not the only kind of levy that the IRS has in its collection. Another 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 percentage of your salary to be sent to the IRS. Other possibilities include a levy on Social Security, a levy on your Accounts Receivable if you have a business, and so on. You should do everything you can to solve your tax liability and avoid anything like this happening, as these are very tricky to get removed.

It’s always better to prevent IRS enforced collection than to undo its detrimental effect on your property. If you are not sure where to start, phone a tax debt expert to discuss your options. A few organizations provide no cost consultation, which also can help you to settle on which tax professional to use if you believe you want somebody to represent you in this matter.

Monday, 29-Oct-2012 22:19 Email | Share | | Bookmark
Tax Collection Appeal System

There are various Internal Revenue Service decisions, including a number of collection actions, that you can, of course, appeal. It's crucial that the taxpayer knows his or her rights under the Collection Due Process and Collection Appeals Program.

A taxpayer can make use of the Collection Appeals Program (CAP) to appeal a wider range of collection activities than the Collection Due Process. These include appealing a Federal Tax Lien Notice, Levy Notice, seizure of property, Installment Agreement termination, or proposed Installment Agreement rejection. However, you cannot negotiate the existence of the tax liability or go to court if you do not like the outcome of the CAP, so there can be restrictions to this approach.

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

Hiring a tax debt professional, such as a tax attorney or an enrolled agent, will undeniably enhance the likelihood of the IRS agreeing to a tax resolution proposal, though there is nothing stopping you representing yourself in front of the IRS. If you cannot, or do not wish to, be present during the Appeals hearing, you will authorize your tax representative to argue your case by completing the IRS Power of Attorney and Declaration of Representative, Form 2848.

Commonly a CAP request is filed following either an IRS notice of intent to file a lien and/or levy, or when they have previously filed such a lien or levy. Do not bother attempting to appeal property seizure if the property has previously been sold, as this will not be successful.

A rejection to a payment plan or installment agreement can also be appealed through CAP, if you do so inside 30 days of the date on the rejection letter. Likewise, if the IRS terminates your installment agreement, you can use CAP to appeal the decision.

As with all contact with the IRS, make certain that you keep a copy of all documentation, together with verification that it was delivered to the IRS. You need this because, under the law, the IRS can't take any enforcement action (for a specific tax year) if the Office of Appeals is considering your case for that year.

Always ensure that the information you give is correct. If the information turns out to be incorrect, then, even if the Office of Appeals initially finds in your favor, to which the IRS must comply, the decision can be negated.

There are other IRS collection actions that may be appealed, based on the IRS Publication 1660. Additional examples include a rejected proposed Trust Fund Recovery Penalty or denied claim. They also include a denied Offer in Compromise, or rejected request for Penalty Abatement.


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