How To Handle An IRS Collection Agency Overpayment
How do you know if an individual claiming to be an individual collection agent for the IRS really is legit? What precedents is IRS moving into? Is IRS collecting more money now than ever before? Are there more people looking for IRS debt advice than ever before? These are all great questions. Here’s some IRS collection agency jargon you need to understand.
The IRS can take back taxes. This is how they start. It’s important to remember that you cannot do this to the IRS. Collection agents cannot take back your taxes, and cannot permanently seal or collect any debts from you. All of these remedies are for tax liability relief only, and are not guarantees that you will not be audited.
They can, however, seize assets in certain situations. When you owe a large sum of money, they can use asset seizure laws to secure the repayment of your debts. They can also seize property, such as vehicles and real estate. The IRS can also place liens on your accounts. All of these options can result in liens being placed on your wages or personal property owned by you.
You owe a large sum of money to the IRS right now. Do not make the mistake of thinking that because you forgot to file your return for five years, you are out of luck. If you owe more than $10k, you can receive a tax resolution. Contact a professional IRS debt expert immediately if you do not know where to go to find help.
It is important to remember that the IRS cannot bargain with you for compromise. The only option available to the agency is to place a lien against your wages or property. If they do not collect, the wage or property will be garnished. A compromise agreement can be arranged with private collection agencies but it is up to you to initiate communications with the agency. The sooner you initiate communications, the sooner it will become a negotiation and get you an outcome acceptable to both parties.
You owe back taxes to the IRS. If the IRS demands a compromise, you must negotiate with them in order to settle the amount you are owed. Do not ignore calls from your private collection agency. Get in touch with an IRS revenue officer employment taxes specialist who specializes in settling compromise claims. A professional can help you negotiate a compromise that is just as favorable as any other settlement offered.
You must be satisfied with whatever settlement you settle for. Never accept an offer to pay an amount less than what you owe or to agree to not pursue collections on your previous years’ overdue taxes. This is why it is crucial that you communicate with a professional IRS revenue officer employment taxes specialist if you receive an proposal from a private company. These companies will often propose payment arrangements that include a written statement acknowledging receipt of previous years’ unfiled tax returns and acknowledging that they will continue to pursue collection on your past years’ owed taxes.
It is important to maintain records of all communications. A professional IRS revenue officer employment tax specialists will work to ensure that all correspondence concerning your past years’ tax debt is saved and filed in a secure location. They will also work to ensure that all records pertaining to your past years’ tax debts are destroyed, obliterated, or destroyed by a specific time. If you agree to a settlement over the phone, you should ask that this document be made and kept in a safe place. In the event that litigation is necessary, this record will serve as evidence in resolving any IRS collections or compromise agreements.