Tax Q&A
Can You Get the IRS To Release A Levy if I Have Unfiled Returns
I was recently contacted by someone who just received notice from their employer that their wages were going to begin being garnished by the IRS. Basically, we were on a deadline of the next payday (about 5 days away) to get the levy released before payroll was sent off so the client didn’t see any [...]
Can the IRS Levy My Wages when I submit an Offer in Compromise
When you submit an offer in compromise to the IRS future active collections against you will be stopped and the IRS will not come after you to collect what you owe. The IRS will let you work on trying to get the offer in compromise accepted before they begin levying you. This rule only applies [...]
IRS Lien Releases
QUESTION: I owe the IRS a substantial amount of money, but I do not have any money left over at the end of the month after I pay my bills to be able to afford to pay anything on my taxes. I could refinance my house since the rates are a lot lower now and [...]
What Can I Do to Stop an IRS Levy?
QUESTION:
The IRS has placed a levy on my wages. What can I do to stop it?
ANSWER:
Getting the IRS to release a levy is not an easy task. If you act quickly enough there are several ways we can help you prevent a tax levy. The type of action you must take depends on whether the [...]
What Documents Do You Need for an Offer In Compromise?
Question: I would like to submit an offer in compromise, but I have heard that the process is similar to an audit and that I will have to provide a lot of documents to the IRS. What kind of information would I have to provide if I file an offer in compromise?
Answer: There are three [...]
Will I Get My Refund Back?
Question: I owed the IRS taxes in 2007 and have set up a payment plan. When I file my 2008 return next year I will be due a refund. Will I get my full refund since I am on a payment plan for my 2007 taxes?
Answer: The short answer is no. Whenever you have a [...]