An IRS tax professional will work quickly to stop the IRS bank levy or the IRS wage levy and return your funds. If you have not filed returns in a few years, using an IRS tax relief professional is particularly important. They can quickly stamp in your back tax years and negotiate for the best … Read more
That omission translates to a figure somewhere near 5 billion in taxes owed to the U.S. Treasury Department. With a budget deficit in the trillions and rising, the IRS is expected to increase its audits of both personal and business tax returns as well as pursue greater enforced collection action against individuals and businesses using … Read more
If you do not file a request for a Collection Due Process Hearing within 30 days from the date of Letter 1058, the IRS can levy your bank account, wages and other assets such as retirement accounts, to collect back taxes. What is a Levy? A levy is effectively a seizure by the IRS of … Read more
YOU MAY NEED TO FILE FOR AN EXTENSION A 1031 exchange is reported on the tax return for the tax year in which the exchange begins, i.e. the tax year the relinquished property is transferred, using IRS Form 8824. If an investor’s exchange transaction started late in 2010, he may need to file for an … Read more
Settling Tax Debt to Stop IRS Bank and Wage Levies – Settling your IRS tax debt is the fastest solution for stopping an IRS bank levy or an IRS wage levy. Once you are in the negotiation phase, the IRS levy will automatically stop. If your IRS settlement is approved, the IRS levy will actually … Read more