FAQs

It's advisable to maintain a polite and professional demeanor while limiting conversation. Inform them that you have or will be obtaining legal representation to address the issue. Immediately after, contact Advantage Tax Relief Inc. for assistance.

A levy is the actual seizure of your property to satisfy a tax debt. In contrast, a lien is a legal claim against your property that secures payment of your tax debt without immediate seizure.

While it's your prerogative to handle IRS matters independently, consider the risks. Federal agents are trained to elicit information that may be used against you. It's comparable to facing serious legal charges without an attorney.

The Taxpayer's Bill of Rights generally discourages the IRS from seizing primary residences. IRS collectors cannot independently decide to seize your home. However, with a court order, seizure becomes possible. Fortunately, you have the right to contest such actions.

While the IRS has the authority to seize vehicles, it's an uncommon practice. The IRS typically avoids actions that would impede your ability to work and earn income, as this would hinder your capacity to repay tax debts.

The IRS has the authority to garnish wages, Social Security benefits, and seize bank accounts. After due process and with a valid levy, they can take up to 90% of Social Security benefits and other wages, and 100% of bank balances, including IRAs.

Generally, the IRS has a ten-year statute of limitations for tax collection, starting from the assessment date. However, this rule has important exceptions. In cases of suspected fraud, there is no statute of limitations.

Personal liability can indeed be a concern. The IRS may impose the Trust Fund Recovery Penalty on business owners and other 'responsible parties', even in incorporated entities. This severe penalty can amount to 100% of the owed taxes and may affect all signatories on business bank accounts.

Our firm can assist you in filing all delinquent tax returns to bring your account current. It's crucial to be compliant, meaning the last six years of returns must be filed and assessed, to qualify for any tax resolution strategy.

Our team can request transcripts from the IRS and your state tax agency on your behalf. This information will enable us to file the necessary tax returns and bring your account into compliance.