January 29, 2013 (Press-News.org) How the IRS handles collections
Tax time is right around the corner, and many people are concerned because they are not able to pay the IRS what they owe. Although ideally it is best to pay your taxes right away, there are options if you are unable to tackle your entire tax bill in one payment.
In many cases, you may be able to qualify for an installment agreement. You can make a request with the IRS to make monthly payments on your tax balance by filling out the Installment Agreement Request (Form 9465), which you can find on http://www.irs.gov.
Another option for paying your bill is to apply for an Offer in Compromise, or OIC, which allows a taxpayer to negotiate with the IRS to reduce a tax balance. In return, you would agree to pay the new amount within a certain amount of time. When making a decision about a possible OIC agreement, the IRS takes into account your income, your expenses, whether or not you have any assets and what they are worth, and your ability to pay the bill within six to 24 months.
When you do not pay your taxes
The IRS has a number of remedies available to use against those who do not pay their taxes. If you do not respond to written attempts to collect the debt, the IRS may do the following:
-Seize a tax refund. If you have a state or federal tax refund coming to you, the IRS can seize those funds in order to pay your balance.
-File a tax lien. When the IRS files a Notice of Federal Tax Lien, it means that the government can put a claim against all of your property. This information is placed on your credit report, so your credit score may suffer. However, you can get the lien removed from your record when you pay your taxes, as well as interest and penalties, in full.
-Issue a levy. When the IRS issues a levy, it means that the agency may sieze your bank accounts, retirement income, Social Security benefits or wages. In addition, the IRS may also seize property, such as real estate, cars and boats.
Do you need help with your tax issues?
If you have a tax issue, you do have options -- even if you've tried to work with the IRS on your own and been unable to get resolution. Contact a qualified attorney to find out what your rights are and how you can deal with your tax problems.
Article provided by Law Office of Luis R. De Luna, PLLC
Visit us at http://www.delunataxlaw.com/
How the IRS Handles Collections
The IRS can use several different methods to try to collect taxes from people who cannot pay what they owe.
2013-01-29
ELSE PRESS RELEASES FROM THIS DATE:
Child Custody in Maryland
2013-01-29
Child custody in Maryland
Parents dealing with child custody issues may have a stressful time ahead of them. These issues are often emotional and the laws may be confusing. Maryland laws govern child custody and have been enacted with the goal of serving the best interest of the child.
What is at stake for the child?
Maryland uses the best interests standard when making child custody determinations. The court looks at the best interest factors anytime a child custody decision is made, while also taking into consideration whether any agreements have been made and ...
Atlanta PD Accused of Using Unconstitutional Arrest Quotas
2013-01-29
Atlanta PD accused of using unconstitutional arrest quotas
Both the United States Constitution and the Constitution of the State of Georgia establish strong protections against unreasonable searches and arrests by law enforcement. However, for all of the rights these documents endow, they cannot prevent individual officers -- or even entire police departments -- from intentionally disregarding their rules.
Unfortunately, over the last several years, many Atlanta residents have been forced to learn this lesson the hard way. In January 2013, the Atlanta Journal-Constitution ...
Child Custody and Visitation Options in Massachusetts
2013-01-29
Child custody and visitation options in Massachusetts
When couples with children divorce or break up, one of the most pressing questions on everyone's mind is often where the children will live and how their relationships with their parents will be affected.
In some cases, parents are able to resolve these questions outside of court and come up with a schedule and parenting plan that meets the needs of everyone involved. However, when parents do not agree on matters of child custody and visitation, they must go to family court and have the disagreement settled by ...
Indictment of Cowboys' Josh Brent Shows Stiff DUI Penalties
2013-01-29
Indictment of Cowboys' Josh Brent shows stiff DUI penalties
The Cowboys' season may be over, but the woes continue for Josh Brent, the Cowboys nose tackle who suffered tragedy in December when he overturned the vehicle he and his close friend and teammate Jerry Brown were in. Brown suffered head and neck trauma from the crash and died. Brent has since been indicted on intoxication manslaughter charges.
Toxicology reports revealed that Brent had a blood alcohol concentration of 0.16, which is twice the legal limit in Texas. In a sad twist, a recent autopsy report revealed ...
A Few Tips to Help Protect Your Business from a Lawsuit
2013-01-29
A few tips to help protect your business from a lawsuit
Business owners want to spend their time building their business, not defending themselves from lawsuits. While a business owner's time is often stretched thin, some legal preparation can go a long way to prevent a business from getting involved in legal quagmires further down the road. Many large businesses conduct annual legal audits to determine unknown legal issues and small businesses should spend some time doing the same.
Two of the most common areas of risk for small businesses are employment and intellectual ...
EBI Consultancy Reveals the Three Important Tools in Supply Chain
2013-01-29
EBI Consultancy, a successful provider of high quality commercial, management and supply chain consulting services in Asia, shares their expertise in the use of high-technology supply chain tools and what businesses could do to cope up with these trends, in a blog post released on January 18, 2013.
They have listed down three (3) important tools for improving the reliability of the supply chain by increasing the visibility of goods scattered across the network through a better flow of information and using technology to improve the supply chain process.
EBI stated ...
Regional Investment and Innovation Leads to Success for R&M Middle East, Turkey and Africa in 2012
2013-01-29
Reichle & De-Massari (R&M) Middle East, Turkey and Africa, the Swiss structured cabling specialist, has announced a strong performance during 2012 posting double digit growth in the region during the last 12 months. During this period, the company nearly doubled its staff strength, inaugurated a new regional office in Saudi Arabia and opened the region's first-of-its-kind patch cord assembly facility at its headquarters in Dubai. This continued investment in the region and industry-leading Swiss quality has led to impressive results for the cabling specialist. The ...
Sompo Japan Participates in Pacific Catastrophe Risk Insurance Pilot
2013-01-29
Sompo Japan Insurance Inc. (President and CEO: Kengo Sakurada; hereinafter, gSompo Japanh) announces that the company has joined the Pacific Catastrophe Risk Insurance Pilot established by the World Bank (President: Jim Yong Kim). The program aims to reduce the natural disaster risks of Pacific Island countries, which are vulnerable to catastrophic damages caused by major cyclones and tsunamis whose frequency is increasing in recent years.
1. Background of Sompo Japanfs Participation in Pacific Catastrophe Risk Insurance Pilot
Major natural disasters, including ...
University Researchers Confirm Link Between Insomnia and Hot Flashes
2013-01-29
A team of researchers at the Stanford University School of Medicine in California recently embarked upon a study to help determine the causes of insomnia among premenopausal and postmenopausal women. The team conducted phone interviews with 982 women and gathered information about their sleep history, frequency of hot flashes, and overall health. They found that 51% of postmenopausal women suffer with hot flashes and that 79% of premenopausal women have them. Among the women with the most intense hot flashes (based on their severity and frequency), 81% of them experienced ...
Russian Interest in Marbella Property Gathers Momentum
2013-01-29
News this month from the Malaga Developer's Association reveals that the Russians have overtaken the Germans to become the second largest international home buying audience on the Costa del Sol. Marbella agent Spanish Hot Properties believes this is a trend to continue.
Nick Stuart, Director of Spanish Hot Properties, says, "Russians now make up 9% of foreign property purchases leaving the Germans trailing with 7%. This is still minimal in comparison to the Brits who lead the way with 35% but, in my opinion, the start of a greater wave of Russian clients on the ...
LAST 30 PRESS RELEASES:
AI salespeople aren’t better than humans… yet
Millions of men could benefit from faster scan to diagnose prostate cancer
Simulations solve centuries-old cosmic mystery – and discover new class of ancient star systems
MIT study explains how a rare gene variant contributes to Alzheimer’s disease
Race, ethnicity, insurance payer, and pediatric cardiac arrest survival
High-intensity exercise and hippocampal integrity in adults with cannabis use disorder
“Brain dial” for consumption found in mice
Lung cancer rewires immune cells in the bone marrow to weaken body’s defenses
Researchers find key to Antarctic ice loss blowing in the north wind
Ten years after the discovery, gravitational waves verify Stephen Hawking's Black Hole Area Theorem
Researchers uncover potential biosignatures on Mars
Built to learn: how early brain structure primes the brain to learn efficiently
Cells use electricity to eliminate their ‘weakest’ neighbours to maintain healthy protective barriers
New motion-compensation approach delivers sharper single-pixel imaging for dynamic scenes
Journal of Psychiatry and Neuroscience now officially part of the Canadian Science Publishing portfolio
What motivates runners? Focusing on the “how” rather than the “why”
Researchers capture new antibiotic resistance mechanisms with trace amounts of DNA
New research in JNCCN offers a simplified way to identify harmful medications in older adults with cancer
State school finance reforms increased racial and ethnic funding inequities, new study finds
Endocrine Society honors endocrinology field’s leaders with 2026 Laureate Awards
Decoding high-grade endometrial cancer: a molecular-histologic integration using the Cancer Genome Atlas framework
An exploding black hole could reveal the foundations of the universe
Childhood traumatic events and transgender identity are strongly associated with suicidal thoughts and behaviors in university students
UVA to test if MRI can reveal undetected brain injuries in soldiers
Mount Sinai Morningside unveils new, state-of-the-art facility for patients who need inpatient rehabilitation
BD² announces new funding opportunities focused on biology of bipolar disorder
“Want to, but can’t”: A new model to explain the gap in waste separation behavior
Highly sensitive, next-generation wearable pressure sensors inspired by cat whiskers
Breaking the code of sperm motion: Two proteins found to be vital for male fertility
UC Irvine poll: Californians support stricter tech regulations for children
[Press-News.org] How the IRS Handles CollectionsThe IRS can use several different methods to try to collect taxes from people who cannot pay what they owe.