Accounting and Tax
Currently Not Collectible Status Foreign Taxpayer: How CNC Works
Currently not collectible status foreign taxpayer rules may allow the Internal Revenue Service to pause most collection actions when you cannot afford to pay your tax debt and still cover […]
Accounting and Tax
IRS Bank Levy: What Happens When the IRS Freezes Your Account
An IRS bank levy directs a bank or financial institution to freeze and send available funds to the Internal Revenue Service to collect unpaid federal tax debt. When the financial […]
Accounting and Tax
What Is Form 12153? How to Request a Collection Due Process Hearing
Form 12153 is the IRS form used to request a Collection Due Process (CDP) hearing after you receive certain IRS collection notices. Filing Form 12153 on time can protect your […]
Accounting and Tax
Notice of Federal Tax Lien: How IRS Tax Liens Work and What They Mean
A notice of federal tax lien is a public notice that the IRS files to alert creditors that the United States government has a legal claim against a taxpayer’s property […]
Accounting and Tax
CP503 Notice: Why the IRS Sent a Second Reminder and What to Do Next
A CP503 notice is the IRS’s second reminder that one of your tax accounts still has an unpaid balance. It tells you how much you owe, when payment is due, […]
Accounting and Tax
CP501 Notice: Why the IRS Sent a Payment Reminder and What to Do Next
A CP501 notice is an IRS payment reminder for an unpaid balance on one of your tax accounts. It means the Internal Revenue Service has not received payment or a […]
Accounting and Tax
IRS Letter 1058: Understanding Your Final Notice Before Collection
IRS Letter 1058 is a final notice that warns the Internal Revenue Service may levy your property or rights to property for an unpaid tax balance. It also gives you […]
Accounting and Tax
What Is an LT11 Notice & How to Respond Before the IRS Seizes Assets
An LT11 notice is the IRS’s final notice of intent to levy before it can take collection action against your wages, bank accounts, or other property. It also gives you […]
Accounting and Tax
Notice of Intent to Levy: Avoid IRS Seizures and Tax Problems
A notice of intent to levy is one of the most serious IRS notices a creator can receive. It means the IRS intends to take collection action against your property, […]
Accounting and Tax
CP504 Notice: What It Means and How to Respond to IRS Fast
A CP504 notice is an IRS Notice of Intent to Levy sent when an assessed federal tax balance remains unpaid. If you do not pay or make other arrangements within […]