IRS Collections Department (ACS)
The IRS collections department is the world’s toughest collection agency. Backed by CID, the IRS’s Criminal Investigations Division, they have been granted all the power and tools necessary to pursue negligent taxpayers and to effectively collect back taxes. These agents are trained to do one thing …retrieve the money that you owe the government. They work in a black and white world, and their function is solely to convince you to pay up. Skilled negotiation and application of laws and regulations is your best defense. Negotiation depends on remaining calm and not losing one’s focus or temper. A trained professional can do this on your behalf.
You’ll begin receiving notices after a tax debt has been assessed, complete with instructions on what action you need to take. If you ignore these letters the IRS will begin aggressive collection actions. At this juncture, it is imperative that you hire a licensed tax professional who is aggressive, knowledgeable and ethical to prevent the IRS from seizing your income and assets. When your employer receives the Notice of Wage Garnishment or Notice of Wage Levy they are become legally obligated to withhold and forward a large percentage of your income to the IRS. This will make keeping up with your household expenses very difficult. As experienced professionals, we understand the immediacy of a garnishment and are equipped to act expediently.
Many taxpayers don’t realize how serious their tax problem is, until the IRS orders their bank to freeze the money in their accounts. Once the bank receives this levy notice, it is required to freeze all funds up to the amount you owe the IRS. The freeze will last for 21 days, and after the 21 days have passed, the bank will send the IRS your money. The domino effect from bank levies can cause serious financial hardship, so it is imperative that you seek help from experienced tax attorneys, CPA’s, or Enrolled Agents. The only way to stop a bank levy is to prove extreme economic hardship, or convince the IRS to accept a form of tax settlement instead. Convincing the IRS to remove the levy is best left up to professionals who can act swiftly on your behalf. Contact us for a FREE confidential consultation about your levy today.
Liens / Asset Seizures
IRS tax liens should always be taken seriously as can damage your credit and make it difficult to buy a car, house or obtain loans for school or medical needs. Liens become public knowledge. So, there is the unwanted potential for public embarrassment. Additionally, many employers including the federal government, frown upon employees with liens.
Liens are often confused with levies. A lien does not involve asset seizure or wage garnishment. A lien means that the IRS is first in line for your assets, should you fail to address your debt with them. A release of federal tax lien may be possible. However, the best practice is to prevent a lien from occurring. Regardless, a seasoned tax professional can ensure that a tax lien doesn’t lead to further IRS complications.
If you have received a notice from the IRS questioning or disallowing certain deductions, you need to contact a tax professional at once. Responding appropriately to the IRS request in the beginning will ensure a smooth audit process. IRS audit agents will often try to expand the scope of the audit to include other areas of the tax return, or even add additional years in addition to the tax return in question. Working with the auditor but not against your best interest is precisely why you should seek consul. As your authorized representative, we can assure the audit process is handled in such a manner as to “limit the scope” and the amount of information the agent request to examine.
Tax problems come in many sizes and as the result of many circumstances. Many of our client’s simply have not filed tax returns in a number of years. If this sounds like you, the IRS may have already filed returns for you and may even be attempting to collect on the amounts they insist you owe them as the result of those “returns”. Of course, the returns they filed for you were prepared in a manner guaranteeing that you would pay the highest tax possible. If they have not filed these substitute returns yet, it is only a matter of time before they do. Willful failure to file returns is illegal and you can be penalized, risk financial ruin and even go to prison.