IRS Collection Information
How does the IRS collections process work?
In order for anyone to owe taxes to the IRS, a tax return must be filed. This should be done by the taxpayer, however, if the taxpayer does not file, the IRS will file a substitute for return on their behalf. Once this is done, the taxpayer will begin receiving a series of 4 letters from the IRS, each more threatening than the last. If ignored, eventually, the IRS will file a federal tax lien. This generally has a devastating effect on credit scores and usually cannot be removed until the IRS debt is fully satisfied. After this, the IRS will file notices of levy which allows them to garnish your bank accounts and wages until the tax debt is paid.
How Bloch, Rothman and Associates can help with IRS Collections
Bloch, Rothman and Associates in Denver can help you file all past unfiled tax returns. We can set up an allowable arrangement with the IRS before any liens are filed. Our Denver tax experts can keep you out of this troubling situation by helping you get your taxes paid, setting monthly payments, proving to the IRS that you are uncollectable, or settling your debt for pennies on the dollar. Bloch, Rothman and Associates has been helping Denver clients with their collection problems with IRS for over 20 years and we can help you also. Contact us for more information on IRS collections. If you need help, we offer a free consultation.