Stop IRS Seizures and Wage Garnishments

The IRS has powers allowing them to seize personal and business assets to pay off outstanding tax liabilities. The IRS attempts to collect amounts owed to them and a seizure is the ultimate act in their collection efforts.

The IRS wage garnishment is a very powerful tool used to collect taxes owed through your employer. Once a wage garnishment is filed with an employer, the employer is required to collect a large percentage of each paycheck, that would have otherwise been paid to the employee, and turn it over to the IRS. Professional Tax Care is regularly retained to negotiate the release of wage garnishments by either arranging an installment agreement or filing an offer in compromise.

Professional Tax Care can stop garnishment of wages usually within a week or less. It allows you to receive your whole paycheck without fear of future wage garnishments.

Release IRS Liens and Levies

The IRS can make your life miserable by filing federal tax liens. These tax liens are public record that you owe various taxes. They are filed with the County Clerk in the county in which you reside or in the county in which your business operates. Credit Bureaus put the federal tax lien on your credit report, making financing difficult.

An IRS bank account levy is where the IRS sweeps bank accounts to collect taxes. Levies should be avoided at all costs and are usually the result of poor or no communication with the IRS. Professional Tax Care negotiates with the IRS to release the levy. One should not consider a levy the only way to pay the IRS after it has been issued.

Installment Agreements (Monthly Payments)

When you find you cannot pay what you owe, the IRS will work out some type of payment arrangements. The IRS guidelines for expenses they will allow are very stringent. The bottom line is you only pay the IRS what you can afford each month. For example: A taxpayer who owes the IRS $53,000 may be paying $50 per month and a taxpayer who owes $18,000 may be paying $700 per month. The amount you owe does not matter. The payment arrangements are based upon how much you can pay. Professional Tax Care reviews the taxpayer's financial condition and can usually suggest the amount the IRS will accept for a monthly payment before we contact the IRS. Our client must approve the monthly payment amount before we agree to anything with the IRS. The main thing we try to avoid is a lifetime payment to the IRS and establishing an end date with the IRS accomplishes this.

Offers In Compromise (OIC)

Professional Tax Care prepares the Offer in Compromise from your information and negotiates with the IRS to have them accept the lowest amount possible as full and final settlement for all taxes, penalties and interests. The average settlement acceptance is 13 cents on the dollar.

Penalty Abatement

The IRS charges a 24% interest rate and penalties on past due taxes. This means your tax debts will double every three years. Professional Tax Care takes into account the special circumstances leading to non-payment and can remove the interest and penalties from your principle.

Tax Returns Not Filed

Most people with tax returns that have not been filed are afraid of what will happen to them when they get back into the system. As you file these old returns, Professional Tax Care will be the contact for the IRS. Professional Tax Care deals with the IRS, and you get straight with the IRS without worrying. Professional Tax Care has been extremely successful in having the IRS accept very late original filed tax returns and reducing the amount.

Currently Not Collectible

A Currently Not Collectible (CNC) Status is when the IRS removes a taxpayer’s account from active collection efforts. The IRS has requirements that an account must meet before it can be placed on a CNC status. Once the account is placed on a CNC status, the IRS does not pursue collection activity against the taxpayer and the statute of limitations on the tax liabilities will continue to run. Unless the taxpayer’s financial situation changes, the account will remain on a CNC status until the tax liabilities expire.