TAX PROBLEMSIRS Collections
Getting a letter from the IRS is never fun, and it’s even less fun when it’s a collection letter. But getting sent to collections doesn’t have to be the end of the world.
How Much Do I Owe?
Collections is the process the IRS has for notifying you of outstanding tax balances and encouraging you to pay them.
You will receive a statement from the IRS telling you the amount that is due, along with any accrued interest or penalties, and asking for a complete payment. Receiving a tax bill also starts the clock on the 10 years the IRS has to legally collect the funds before the statute of limitations expires. After 10 years, you typically don’t have to pay.
What Happens If I Don't Pay?
If you don’t pay the IRS what it is owed, it has the authority to garnish your wages, or even seize your property and sell it in order to pay off the balance.
But don’t panic — a qualified tax professional can help put a hold on future IRS collections or release a garnishment or levy. They can also help you take care of your problem through options like:
Get Help
Ready to get out of collections? Schedule a free consultation with one of our tax associates and get the help you need.
Finding the right tax professional begins with asking the right questions.
Still deciding? Read our Founders Letter to learn more about what we do.
TaxQuotes is a specialized team of tax professionals committed to resolving IRS and state tax issues. As innovators in the tax industry with over 50 years of combined experience, we are experts at resolving a wide range of tax problems, including:
- Unpaid tax balances
- Unfiled tax returns
- Penalties and penalty relief issues
- Underreporter notices
- Business and payroll tax issues
- IRS and state tax issues
Our service costs vary based on the complexity of your situation. The first step is to get your IRS records, evaluate your situation, and provide a customized resolution plan according to your specific situation. The cost for this service varies but it’s an important first step in thoroughly understanding your unique situation and what options are available to you.
Once we have discussed your situation with you, we will propose one fee to resolve your entire situation. You have no obligation to purchase unless you accept our plan, and you can pay your fees over the time it takes us to complete your case. Your tax consultant can estimate how long your case will take and the fee structure for our services.
Resolution time for tax issues varies based on the complexity of the case. Straightforward matters take a few weeks, while intricate issues may take a year or more. To streamline the process, our team will file a power-of-attorney authorization with the IRS, allowing us to work directly on your behalf.
When you owe back taxes, the IRS offers several options other than full payment. These include payment plans, extensions to pay, and hardship programs, such as not-collectible status and a tax settlement option called an Offer in Compromise. We will evaluate each option with you and get you the best option based on your circumstances.
Absolutely. Our tax resolution experts review your notice, assess your situation and work with you on a plan to resolve your situation. Once you engage us for services, we get right to work with you and the IRS. Our tax resolution specialists stick with you from beginning to end.
Each person’s circumstances are different. Our goal is to get you the best outcome available based on your circumstances. If you owe back taxes, we will review your unique situation for any potential relief.
