* You may not know this but when you call the IRS to settle a liability, they will not tell you or speak of an Installment Payment like other tax resolution firms. They will only ask what can you pay? There are tax resolution firms out there that are more familiar with the IRS and what they will or will not do for the IRS. Tax resolution firms know the IRS verbage and how to negotiate with the IRS more so than the individual taxpayer calling for a resolution. There are plans where the taxpayer's liability falls under $25000, and a lower payment can be negotiated. This monthly payment will be lower than going directly through the IRS because the IRS does not inform you of the assessed balance as the starting point of figuring out the payment.
* Did you know that the only way to have a lien lifted is through the following:
-CSED (Collection Statutory Expiration Date) expires
-Liability is paid in full
-Or you can prove you can pay the IRS by the sell of your home: If you have tax liability, you have a lien against you personally. Therefore, when you go to sell your home, a lien subordination has to be requested before the sell of their home. After the fact, your gain on the asset will be paid towards the financial lender first and the remainder towards the government.
Wednesday, May 7, 2008
Tips The IRS Don't Tell You
Posted by Anonymous at 6:51 PM
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