Tax_Debt

We recently discussed the differences between a lien and levy here, but how do you know when the IRS will levy your property? Before levying a taxpayer’s property, the IRS must notify the taxpayer of the outstanding balance and the pending levy action.

When the IRS needs to collect on a past-due debt, it has two primary tools in its kit, the lien, and the levy. Both are useful, but each serves a different purpose and has other consequences for the taxpayer.

For most people, picking a filing status at tax time is a simple task. You can choose from five statuses, most of which, at least on their surface, are easy to understand.

Introduction to Installment Agreements Installment agreements can be an excellent tool for you if you owe more than you can pay right now. There are several types of installment agreements, and each one has its requirements and offers different benefits.