Tuesday Tax Tip

Information for Taxpayers assigned to a Private Collection Agency

Information for Taxpayers assigned to a Private Collection Agency Alert: Your delinquent account could be assigned to a Private Collection Agency. The Internal Revenue Service (IRS) will notify you of the assignment before the Private Collection Agency contacts you and will send you Publication 4518, What You Can Expect When the IRS Assigns You to […]
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How long does the Internal Revenue Service (IRS) have to collect my taxes due?

How long does the Internal Revenue Service (IRS) have to collect my taxes due? The IRS can attempt to collect your taxes up to 10 years from the date they were assessed. However, there are ways this time period can be suspended. For example, by law, the time to collect may be suspended while: · […]
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How to pay your taxes – if you can’t pay in full: But I am unable to pay at this time:

How to pay your taxes – if you can’t pay in full: But I am unable to pay at this time: If you are unable to pay at this time – Ask the IRS to delay collection and report your account as currently not collectable. If you can’t pay any of the amount due because […]
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How to pay your taxes – if you can’t pay in full: Offer in Compromise (Part II)

How to pay your taxes – if you can’t pay in full: Offer in Compromise (Part II) Before the IRS can consider your offer: · you must file all tax returns you are legally required to file, · make all required estimated tax payments for the current year, and · make all required federal tax […]
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How to pay your taxes – if you can’t pay in full: Offer in Compromise (Part I)

How to pay your taxes – if you can’t pay in full: Offer in Compromise (Part I) You may be eligible for an Offer in Compromise if you can’t pay the amount you owe in full or through an IRS installment agreement. By requesting an Offer in Compromise, you are asking to settle unpaid taxes […]
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How to pay your taxes – if you can’t pay in full: Installment Agreement (Part III)

How to pay your taxes – if you can’t pay in full: Installment Agreement (Part III) To be eligible for an Installment Agreement, you must file all required tax returns. Prior to approving your Installment Agreement request, the IRS may ask you to complete a Collection Information Statement (Form 433F, 433-A and/or Form 433-B) and […]
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