Back Taxes Resolution: Stopping IRS Collection

Posted on February 9, 2024

Back Taxes Resolution: Stopping IRS Collection

IRS collection actions are important to avoid because they can be damaging to a taxpayer’s financial stability. The IRS can, if back taxes remain unpaid, seize an individual’s assets or garnish wages to satisfy the balance due. Collection actions can cause stress and serious financial problems if they’re not handled early on.

The quickest method of stopping collection actions is to pay the full amount of back taxes in a lump sum. If that is not possible, it’s best to contact the IRS and request to be placed in a payment plan. If the IRS believes that the taxpayer is committed to resolving the liability, they may approve an installment agreement.

Usually, when facing harsh collection actions such as a tax lien or levy, it is preferable to use the help of a tax professional or a resolution service. Tax professionals can ensure you get a plan that is both affordable and appropriate to your situation.

If you’re representing yourself in a tax matter, make sure you research the tax laws and IRS rules that impact your case. However, when faced with a complex tax situation, it’s wise to seek experienced assistance.

 

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