If you’re dealing with unpaid taxes, you might be wondering how far the IRS can go to collect. Can the IRS freeze my bank account? Unfortunately, the answer is yes, the IRS does have that authority. But it is not an instant or random action. In many cases, it can be avoided or resolved if…
Few things in life get people’s attention faster than a letter from the IRS. And when unpaid taxes enter the picture, you might ask yourself, “Can the IRS garnish my wages or bank account?” If you are dealing with IRS debt in Tennessee, you will want to know how this works, so you can take…
When you owe the IRS back taxes, the clock starts ticking. Unfortunately, it is not a short clock. The IRS has some of the strongest collection powers in the country. If you have received one of those white envelopes with the black lettering, your stress levels can spike. How long does the IRS have to…
Getting a letter from the IRS can make your stomach drop. Even if you are on top of your taxes, seeing “Internal Revenue Service” on an envelope might make you shove it in a drawer and hope it goes away. What happens if I ignore IRS tax notices? Unfortunately, they will not give up, and…
When you hear the words “IRS” and “investigation” in the same sentence, your stomach might drop a little. Most people dread the thought of an IRS audit or a tax investigation. While they both involve the Internal Revenue Service digging into your finances, they’re very different processes with very different consequences. What is the difference…
For many people, they are overwhelmed by IRS tax debt. It may seem like there is no way out. However, there is a program that may help in your situation. Can you settle your IRS debt? An Offer in Compromise (OIC) allows people in tough financial situations to settle their tax debt for less than…
The IRS Payment Plan (commonly referred to as an Installment Agreement) is available to certain qualifying taxpayers who wish to pay their tax debt via monthly payments. This payment plan is for taxpayers who are in “Current Compliance” with the IRS* and have the means to pay off their tax debt yet are unable to…
