Orange County, CA: THE IRS COLLECTION PROCESS

Orange County, CA: THE IRS COLLECTION PROCESS, what are the steps the IRS takes to collect past due taxes.

Christopher Carmona, CPA CFE

http://carmonataxcpa.com

Last week my practice wrote about the three critical components for resolving tax debt, which is something I deal with frequently.

Lets take a look at THE IRS COLLECTION PROCESS. A taxpayer falls into the IRS Collection Division inventory either by filing a return with a balance due or by failing to file a tax return at all.

1. The tax is assessed.
2. The billing notice is sent and it goes unpaid.
3. A silent lien arises by statue attaching to all the taxpayer’s assets owned and even the ones later acquired.
4. Final notice of the IRS’s intent to levy on the taxpayer’s income and assets is sent. This marks day 1 of 30 days for the taxpayer to request a collection due process hearing.
5. The IRS files a Notice of Federal Tax Lien “NFTL” in the public records if the taxpayer owes more than $10,000.
6. If an appeal is not filed, the IRS begins seizing the taxpayer’s assets such as clearing out the bank account and garnishing wages. They may even go after the taxpayer’s clients that owe the taxpayer money.
7. The process continues until you call me.

I go into further detail on the IRS COLLECTION PROCESS in future blogs. In the meantime feel free to read IRS Publication 594. If you or someone you know is having an issue resolving their tax debt then feel free to reach out to me at:

Christopher Carmona, CPA CFE

323 707-6148

http://carmonataxcpa.com/about...