In March 2020, the Internal Revenue Service (IRS) paused tax collections and enforcement policies temporarily in response to the coronavirus pandemic. Rising unemployment rates had left millions of taxpayers struggling to pay their bills. However, with the country’s health climate back on the rise, the IRS announced that their automated lien and levy programs would resume administering notices starting July 15, 2021.
The agency began sending out balance due reminders to those who have yet to pay their federal tax liability in June. These notices allotted taxpayers 30 days to arrange to make payments through the IRS or 45 days for those who are out of the county.
If an individual cannot pay their balance and fails to contact the IRS to discuss an alternative agreement, they may receive a lien or levy as early as August 15, 2021. A lien allows the IRS to legally claim or seize a taxpayer’s property and income.
What does this mean for you?
What Should I Do Next?
Now that the IRS is enforcing tax payment collections again, it’s crucial that you devise a plan to address your owed taxes. Though IRS collections are going back into effect, you have options to manage and resolve your tax balance.
At Polston Tax Resolution & Accounting, we take the stress out of dealing with the IRS and State. Our team of tax professionals, including over 100 accountants, tax attorneys, CPAs, case managers and financial analysts, has the combined knowledge and experience to help you achieve the financial freedom you deserve. We communicate with the IRS daily, so we know what to expect and how to achieve the best outcome for our clients.
We offer many services to help you handle upcoming IRS collections, such as:
- Installment agreements: If your current financial situation inhibits you from making large payments, we can arrange for you to pay your taxes in manageable monthly installments.
- Lien assistance: If the IRS places a tax lien on your property, our tax attorneys will determine the best resolution for your situation.
- Bank levy services: The IRS can issue levies that allow them to legally freeze and extract funds from your account and/or paycheck. We can help you get your levy released through our bank levy services.
- Offers In Compromise services: If you can’t afford to pay back your taxes, you may be eligible for an offer in compromise, enabling you to pay less than your full tax balance.
Get Professional IRS Tax Help Polston Tax Today
You can navigate upcoming IRS collections seamlessly with the Polston Tax team by your side. With over 20 years of dedicated service, we’re the tax and accounting firm you can trust.
Contact us to book your free consultation today!