IRS Collection Activities

Wondering about IRS Collection Activities.

IRS collection actions vary with the seriousness of the situation. In general there are four tiers of seriousness based on the amount you owe. These tiers are

(1)   Under $25,000

(2)   25,001 to 50,000

(3)   $50,001 to 100,000

(4)   Over $100,000

If you owe under $25,000 we can often set up a payment plan for you within a week
provided you have filed all returns that are due and are cooperative in furnishing data to us.

In the second tier the IRS will require more information and the process may include some verification of income and expenses. Again your cooperation will determine the time and cost of getting the agreement completed.

The third tier will involve filling out s form 433 (Financial statement and providi9ng IRS with quite a bit of data that is usually faxed or mailed into a service center. Unfortunately, in the automated collection system where these cases are worked you never deal with the same person twice and often you deal with people in New York one day and the West coast the next day. Frequently they ask for an endless array of information.

Finally the fourth and most serious tier involves a case that will Ned up in the hands of
a field revenue officer, the highest level of IRS collections employees that actually work cases. These are usually very experienced people with quite a bit of training. Without an expert helping you your cases could take many months or even years to resolve.

Knowledge is power in these situations and the Equine Tax Group has the knowledge of
both the IRS and the horse business to win your IRS collections matter and get you a fairt payment arrangement or in some cases be declared noncollectable.

If you have an IRS wage garnishment, a levy on your bank account or need to establish a payment plan calls us!  .

Get in contact with us, so we can help you with resolving your tax issues.  We can also handle offers in compromise. We know taxes for equestrian business