Category Archives: Law
The IRS has numerous means of collecting the back taxes that you might owe to them. The best thing to do in this type of a situation is to appoint a Colorado tax debt attorney for helping you out with the problems. The repayment or recoupment methods for collection of delinquent taxes by the IRS include the following:
1. Restructured Payments
Once you agree to pay the delinquent tax amount to the IRS they might consider a revised payment structure for facilitating your payment process. This usually includes a monthly installment program that they might agree to. In cases of extreme financial duress, they might allow you to forego the tax payment after you have settled a token fraction of the amount.
IRS usually places a lien on your bank account and pay check from your employer in order to recoup the money that you owe them in the form of back taxes. This might be extended to encumbering your properties and putting them up for sale in the form of a levy.
What you must know is that IRS back taxes help always helps positive and compliant behaviour from you and you can ensure that by appointing a Colorado Tax Debt Attorney.