Every IRS Scenario may vary.   The collection processes are procedures that the IRS can use to collect the money you owe and don’t voluntarily pay them. In short, no one likes to play with their money; the IRS simply takes matters into their own hands.

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Here’s how the process is works

Firstly, after you file your annual taxes which are mandated every year, everything is recorded into the IRS record system.  If you owe them they’ll take the following steps.

1. If You Owe Taxes, They will Send You a Bill.  This not only includes what you owe but also penalties and interest.  In other words your first warning.

• If You Don’t Pay Your First Bill, a Second Bill will be sent. This is your second reminder of what you owe. This is all happening while interest and penalties continue to accumulate. These interest and penalties continue until what you owe is paid in full in other words your second warning.

• If You Still Have Failed to Pay, The IRS Will Begin Collection Actions. The IRS does not play with their money. Collection can be done in any form from your paycheck to property, bank accounts and assets.  This may even include an unannounced visit from a Revenue Officer to any of your homes or businesses if you have any.

But don’t be scared!

There is always a solution to these problems and seeking help is always a choice. Luckily, if you are unable to pay in full the IRS does have payment options. There is an online application you can fill out for this alternative payment option. If you don’t qualify you can give them a call and discuss further options. If you feel you don’t owe them money and there has been a mistake you can also call them. Overall, the point is to reach out to them. Unfortunately, failing to do so, is when the IRS is left with no other option but to forcefully take it from you.

On the other hand, there is also a Taxpayer Advocate Service (TAS). This service is free and helps out individuals who haven’t been able to resolve their tax problems but have actually been trying to. As a result, this is why it’s important to call regarding any debt problems you have with the IRS.

Here’s What NOT To Do!

Do not file for bankruptcy, thinking this will clear your debt.  Bankruptcy does not end your debt but it may TEMPORARILY stop collection.

Secondly, it is important you take action. Remember that every month you don’t pay, interest and penalty continues to accumulate.

In conclusion, if you are not sure about what steps to take there is always professional services like Ultimate Tax Relief in the Bronx, NY. Offering a free consultation, call 718–367–6111 or go to https://ultimatetax-relief.net/. Don’t let your debt accumulate take action now!