Unpaid Balances | TaxDebt
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Unpaid Balances

 

The IRS collection process begins with the very first bill you receive for unpaid taxes. Interest and certain penalties will immediately begin to accrue on unpaid balances and if these are not followed up by either full payment or timely contact with the IRS then enforced collection action may begin.

Notice Of Federal Tax Lien

This is public notice that the IRS has a legal claim to all property you own presently and acquired in the future.In many cases the Filing of Notice Federal Tax Lien can be avoided however, once a lien is filed, it generally will not be removed until the balance, including interest and penalty are paid in full unless certain conditions apply. A Federal Tax Lien will negatively affect your consumer credit rating.

Notice Of Levy

Your banks or other financial institution and payors are notified to send available funds that are due from you, directly to the IRS.

Property Seizure

Your car, boat or other real property may be at risk to be taken and sold at auction to satisfy unpaid tax debt.

Offsetting A Refund To Which You Are Entitled

Other federal and state refunds for taxes or other payments can be taken and sent directly to the IRS.

Garnishment Wages, Social Security Or Other Income

A percentage of income you may receive periodically is sent directly to the IRS. If you can demonstrate a current financial hardship the IRS may suspend certain collection action until your situation improves.

At TaxDebt.com we can help you avoid any of the unpleasant actions outlined above by acting swiftly on your behalf. We will take action, many times during our first meeting, and you will begin see real results almost immediately. In many situations we can establish installment payment arrangements within days or get a hold on collection action while we investigate the possibility of reducing your tax debt to a fraction of what it was, through an offer in compromise or penalty removal.

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