Accounting and Tax

CP508C is an IRS notice stating that your seriously delinquent tax debt has been certified to the U.S. State Department. This certification can block a new passport or a renewal […]

A CP523 notice means the IRS plans to terminate your installment agreement because the account has entered default status. The letter also warns that the IRS may take collection actions […]

Form 656 lets taxpayers ask the IRS to settle eligible federal tax debt for less than the full amount owed through an offer in compromise. The IRS reviews income, expenses, […]

A collection due process hearing is an IRS appeal that lets you challenge certain federal tax lien filings and proposed or completed levy actions. You may have this right only […]

IRS Form 12277 is the IRS’s preferred application for requesting withdrawal of a filed Form 668(Y), Notice of Federal Tax Lien. A withdrawal can remove the public lien notice, but […]

Form 433-B is the IRS collection information statement used to report the finances of a business that owes federal taxes. It gives the Internal Revenue Service a current view of […]

Innocent spouse relief may release you from all or part of a joint tax balance, including tax, penalties, and interest, when your spouse’s income, deductions, credits, payment failure, or financial […]

A federal tax lien release ends the IRS’s legal claim against property tied to the liabilities listed on a Notice of Federal Tax Lien once those liabilities are satisfied or […]

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 […]

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 […]