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IRS Collection Process

July 24, 2014 by admin

Steven A. Leahy
IRS Collection Process

By Steven A. Leahy

Resolving IRS problems is not easy. When a taxpayer owes the IRS, the IRS will send a bill, a “Notice” in IRS speak – This begins the four step collection process. Additional notices will follow – each directing the taxpayer to pay the outstanding balance, or set up a “payment solution.”

The initial notice (IRS Form CP 501) is generated by one of ten Regional Compliance Centers. IRS Form CP 501 is a reminder telling the taxpayer that there is a balance due on a tax account. Five weeks after the first notice, the compliance center will generate IRS Form CP 503, “Second Notice: You have unpaid taxes for 20xx.” IRS Form CP 503 uses a more urgent tone. Five weeks after IRS Form CP 503, the compliance center will generate IRS Form CP 504 “Notice of Intent to Levy: Intent to seize your property or rights to property Amount due immediately: $XX,XXX.XX.” Now, the IRS is taking things from you.

If the taxpayer does not respond to these notices, the account becomes delinquent. Delinquent accounts are assigned to the Automated Collection System (ACS) or the Collection Field function (CFf). Most accounts go to the ACS for collection efforts. Some accounts, however, go directly to CFf and are assigned to a Revenue Officer.

If the delinquent account is assigned to ACS, ACS employees will contact the taxpayer by telephone and try to work out a payment solution. The taxpayer may also call ACS to work out a payment solution. ACS maintains a computerized inventory system that has taxpayer information, including personal information (name, address, telephone number, date of birth, adjusted gross income and social security number), audit information, IRS collection information, and perhaps the taxpayer’s credit report and bank account information. ACS uses this information to assist them in their telephone collection efforts and enforced collection efforts. Enforced collection authorizes ACS to collect delinquent accounts via bank account levies, wage garnishments and levies on accounts held by other third parties (e.g. accounts receivables). Often delinquent accounts are forwarded on by ACS to CFf.

When an account reaches CFf, a Revenue Officer (RO) is assigned. The RO will be directly responsible for collecting the balance on the delinquent account. A RO may call the taxpayer, or even appear at their home or place of business. Being on the receiving end of a RO visit is never a good experience. Once a RO is assigned – that person is your contact person within the IRS. The RO can also direct enforced collection efforts – bank account levies, wage garnishments and levies on accounts held by other third parties (e.g. accounts receivables).

If a taxpayer disagrees with a decision by the IRS Collections office, there is an appeal process. Appeals are conducted by the IRS Office of Appeals – a separate and independent office. There are two main appeals procedures, Collection Due Process (CDP) and Collection Appeals Program (CAP). A CDP or CAP will often get a better result than dealing with ACS or a RO – but not always.

Before the IRS can levy your assets they must send the taxpayer IRS Letter 1058 “Final Notice – Notice of Intent To Levy And Notice of Your Right to A Hearing.” Use this last opportunity to resolve your IRS Problem. Generally, IRS Letter 1058 is sent via certified or registered mail. So, if you are experiencing IRS problems and you receive notice of a certified letter, GO TO THE POST OFFICE AND PICK IT UP.

If you are facing IRS Collection Efforts, you should work with a local law firm that understands the IRS Collection procedures and will work to get you the best deal possible. You should give me a call – Opem Tax Resolutions & The Law Office of Steven A. Leahy, PC (312) 664-6649. Call NOW to set up your FREE Consultation.

Filed Under: Uncategorized Tagged With: “Offer in Compromise”, “Owe Taxes”, “Tax Relief Chicago”, Chicago Tax Help, currently non collectible, IRS Help, IRS Help Chicago, irs options, IRS Tax Debt, Tax Help Chicago

IRS Offer in Compromise

June 4, 2013 by admin

Steven A. Leahy

Chicago: IRS Offer in Compromise

Chicago: IRS Offer in Compromise
Why the IRS is cracking down

There is one method of getting out of debt with the IRS that’s been abused more than any other.

This method, offers-in-compromise, has become downright controversial – so much so that the IRS made changes to the “rules” regarding this debt relief method for both taxpayers and tax relief specialists.

When the act that allowed Offer-in-Compromise passed, it was like a giant Pandora’s box opened up. All of a sudden, late night TV became filled with commercials from Offer-In-Compromise “Pros” promising troubled taxpayers the chance to “pay pennies on the dollar to the IRS”.

These “pros” would fill out the OIC paperwork and send it to the IRS, sometimes ignoring whether a client met the criteria for being accepted or not. Either way, the “pros” got their money…even if the client never had much of a chance of being accepted.

Not only did this practice create a huge number of people getting ripped-off, it may have caused a reduction in the number of Offers-in-Compromise that are actually being accepted by the IRS. On November 1, 2003, the IRS began charging a $150 processing fee for most Offer-In-Compromise proposals.

Also, in February of 2004, they officially issued “a consumer alert advising taxpayers to beware of promoters’ claims that tax debts can be settled for ‘pennies on the dollar’ through the Offer in Compromise Program.”

It seems that “frivolous” proposals – not to mention plenty of complaints by consumers – had been mounting… enough to warrant concern by the IRS.

The IRS has cracked down.

Offers-in-Compromise now only have a 15% chance of success. An offer-in-compromise may still be the right option for you, or there may be better alternatives.

Don’t waste your time, if you are in trouble with the IRS or have received notices that you owe taxes, we can help. Call Opem Tax Resolution – The Law Office of Steven A. Leahy, PC (312) 664-6649. Call Now to schedule your FREE 1 hour Consultation!

Filed Under: Uncategorized Tagged With: “Offer in Compromise”, back taxes, Chicago Tax Help, Help With IRS, IRS Levy, irs non-collectible status, IRS Options Help, IRS problem, IRS Tax Debt, Offer in Compromise IRS, Offer in compromise Settlement, Relief, Tax Debts, Tax Help Chicago, Tax Levies, Tax Levy, tax options Chicago, tax resolution chicago il, TaxHelp

Chicago – IRS Solutions

May 21, 2013 by admin

Steven A. Leahy

Chicago: IRS Solutions

Chicago: IRS Solutions – One Way to Get Out of IRS Debt

There are 6 different ways to eliminate IRS tax debt.

Let’s look at one of the easiest….

Pay the bill.

Now before you think I’m being overly simplistic, this is really an option for many people.

Let me explain.

You may want to pay the bill with a credit card.

Credit card debt is usually better than IRS debt.

The IRS actually accepts Visa, Mastercard & American Express for many debts owed to them. Think of it this way…a credit card company has nowhere near the power of the IRS to collect their money…

Not only can the IRS take your wages, but they can also take things like your real estate, Social Security, 401(k)’s, IRA’s, car, boat, house, accounts receivable, cash loan value of your life insurance, or commissions…to name just a few.

The IRS can also put a lien on your personal and investment properties, making it difficult to sell your house, destroys your credit rating and makes it difficult to refinance or get a home equity loan.

Of course, the “big hammer” of the IRS is that they can actually send you to prison for not paying your taxes.

The credit card companies have power, but not near as much as the IRS. If you don’t have enough credit to pay off your IRS debt then you should know that there are other options.

Chicago IRS Solutions. If you are searching for IRS Solutions to your tax problems, or if you have ANY questions about IRS problems, we can help. call Opem Tax Resolution – The Law Office of Steven A. Leahy, PC (312) 664-6649. Call Now to schedule your FREE 1 hour Consultation!

Filed Under: Uncategorized Tagged With: “Offer in Compromise”, “Owe Taxes”, “Tax Options”, “Tax Relief Chicago”, back taxes, Chicago Tax Help, currently non collectible, IRS Help, IRS Help Chicago, IRS Levy, IRS Lien, irs non-collectible status, irs options, IRS Options Help, IRS problem, IRS Solutions, IRS Tax Debt, irs tax penalty, IRS Tax Problem, Offer in Compromise IRS, Offer in compromise Settlement, Relief, steven a. leahy, Tax, tax attorney chicago, Tax Debts, Tax Help, tax options Chicago, Tax Problem Help, tax resolution, tax resolution chicago, Tax Solution

Chicago – IRS and Divorce

May 15, 2013 by admin

Steven A. Leahy

Chicago: IRS and Divorce

Chicago: IRS and Divorce
Could the IRS Make You Get Divorced? In Chicago and need IRS Relief for Tax Debt?

Numerous studies have shown that the money problems are the #1 source of arguments in marriage.

Money problems caused by credit debt, loss of a job, unforeseen expenses – you name it…it’s all stressful on a marriage.

But if you toss an IRS problem into the mix, you may have a recipe for disaster. The IRS has more far-reaching power than any collection agency could ever have.

No other entity has the power to dip into your bank account, garnish your wages, seize your property, put a lien on your house…and possibly put you in jail.

So if money problems cause arguments, IRS problems can cause absolute fallout.

Of course, if divorce follows as a result, it introduces a whole host of other problems emotionally and financially.

Not to mention the damaging effects that marital problems and divorce has on your children… So the IRS can’t cause a divorce, but they sure can contribute to one.

You owe it to yourself, your spouse and your children to put and end to this madness and get on with your life.

Chicago IRS and Divorce. If you have questions about the IRS and divorce, or if you have ANY questions about IRS problems, we can help. call Opem Tax Resolution – The Law Office of Steven A. Leahy, PC (312) 664-6649. Call Now to schedule your FREE 1 hour Consultation!

Filed Under: Uncategorized Tagged With: “non collectible”, “Offer in Compromise”, “Tax Relief Chicago”, “Tax Relief”, back taxes, Chicago Tax Help, currently non collectible, Help With IRS, IRS Help, IRS Help Chicago, IRS Help IL, IRS Levy, IRS Lien, irs non-collectible status, tax attorney chicago, Tax Debt Help, Tax Debts, Tax Help, Tax Help Chicago, Tax Levies, Tax Levy, tax options Chicago, Tax Problem Help, tax resolution, tax resolution chicago, Tax Return, Tax Solution, Tax-Consultants, TaxHelp

Divorce and IRS

May 8, 2013 by admin

Steven A. Leahy

Divorce and IRS: Chicago IRS Debt Relief

Divorce and IRS: Chicago IRS Debt Relief
Could the IRS Make You Get Divorced? In Chicago and need IRS Relief for Tax Debt?

Numerous studies have shown that the money problems are the #1 source of arguments in marriage.

Money problems caused by credit debt, loss of a job, unforeseen expenses – you name it…it’s all stressful on a marriage.

But if you toss an IRS problem into the mix, you may have a recipe for disaster. The IRS has more far-reaching power than any collection agency could ever have.

No other entity has the power to dip into your bank account, garnish your wages, seize your property, put a lien on your house…and possibly put you in jail.

So if money problems cause arguments, IRS problems can cause absolute fallout.

Of course, if divorce follows as a result, it introduces a whole host of other problems emotionally and financially.

Not to mention the damaging effects that marital problems and divorce has on your children… So the IRS can’t cause a divorce, but they sure can contribute to one.

You owe it to yourself, your spouse and your children to put and end to this madness and get on with your life.

If you are in trouble with the IRS or have received notices that you owe taxes, we can help. call Opem Tax Resolution – The Law Office of Steven A. Leahy, PC (312) 664-6649. Call Now to schedule your FREE 1 hour Consultation!

Filed Under: Uncategorized Tagged With: “Offer in Compromise”, “Owe Taxes”, “Tax Relief Chicago”, back taxes, Chicago Tax Help, currently non collectible, Help With IRS, IRS Help, IRS Help Chicago, IRS Help IL, IRS Levy, IRS Lien, irs non-collectible status, irs options, IRS Options Help, IRS problem, IRS Tax Debt, irs tax penalty, IRS Tax Problem, Offer in Compromise IRS, Offer in compromise Settlement, steven a. leahy, tax attorney chicago, Tax Debt Help, tax debt relief, Tax Problem Help, tax resolution, Tax-Consultants

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