Frightening Mail: Final Notice of Intent to Levy – CP90

The IRS will issue a Final Notice of Intent to Levy, CP90, when you owe back taxes and have not responded to earlier IRS notices regarding payment. This is the final notice you will receive regarding payment of your back taxes before the IRS initiates a levy.  If you have received a CP90 and need the services of a tax …

Tax Debt : Can It Weaken Your Credit Score?

If you owe back taxes, the IRS does not report the debt to credit agencies. In other words, your credit report does not show any balance due for taxes. However, if the IRS places a federal tax lien for non-payment of back taxes, the lien will appear on your credit report. Usually, the IRS files a lien for amounts of …

How Tax Debt Can Negatively Affect Your Job

Discovering that you owe tax debt can be a truly stressful experience. Your IRS problems may even spread beyond the relative comfort of your home, potentially impacting your job or employment prospects. Before dismissing a delinquent tax balance as “something to handle later,” you need to consider what consequences can befall your professional life. Also, understand that resolving your tax debt is within …

After “I Do” : Handling Tax Debt in Marriage.

More than just having someone “to have and to hold”, marriage can make handling your taxes easier and provide unique benefits. You have the option of streamlining the filing process by filing jointly and merging two annual tax incomes into one. However, there are certain issues to consider if you’re preparing to file a joint return with your spouse. What You …

What Happens to Your Tax Debt When You Die?

Planning the logistics of your departure from this world may not be a comfortable activity, but a little time and energy on your part can save those you leave behind from a difficult task. You want to be certain that your money, property and assets are divided and distributed according to your wishes. As you navigate this essential activity, it …

A Taxpayer’s Guide to Private IRS Debt Collectors

The IRS has called for backup from the private sector, and these four companies could be coming after your tax debt in lieu of the IRS. Here’s what you need to know to stay informed, lawful and safe. For more information, contact RMS Tax Consulting at (520) 448-3531and speak with Enrolled Agent Richard Schickel for a free consultation. What’s the …

Who is Qualifies to Represent Taxpayers Before the IRS?

Who is Qualified to Represent Taxpayers Before the IRS Are you looking for a resolution to your tax problem? If so, you need to hire an experienced and efficient tax professional. Licensed tax professionals specifically focus on that part of the tax code that deals with taxes. When seeking representation, you must look to hire a licensed tax professional or …

How to Protect Yourself from Aggressive IRS Actions

How to Protect Yourself from Aggressive IRS Actions In order to avoid aggressive IRS actions, it is important to understand how they work. In addition to sending notices regarding the payment of debt, the IRS also uses various aggressive collection actions such as a federal tax lien and tax levy to collect unpaid tax debt.  Don’t avoid the IRS’ attempts …

What Are Allowable Living Expenses?

What are Allowable Living Expenses? Allowable living expenses are those such as food, clothing, transportation, shelter, basic personal care, etc. When you have a tax debt, the IRS cannot forcibly collect back taxes from you if it compromises your allowable living expenses. Subsequently, the IRS must leave you enough money to continue to pay for your basic necessities. Should you …