Thursday, November 13, 2008

What Do Revenue Officers Do ?

If you have tax debt, and you have recently been assigned a Revenue, you may be asking yourself what they do? Well Revenue Officer's assigned to a taxpayer's accoutn due to negligence on the taxpayers part in regards to unpaid liabilities.

A revenue officer is the highest level of the collections chain. When a revenue officer is assigned to you, they have the ability to levy you into the ground. If you happen to own your own business where you have employees, the IRS can seize your property and close your business if you to not comply to what they ask of you.

Most Revenue Officers are more concerned with staying current on taxes going forward as opposed to back taxes. If you own your business, it would behove you to file your current returns to get in compliance. And, because your business is assigned to a Revenue Officer, the IRS will collect to the extent that there is funds available by the business and the responsible individuals.

Revenue Officers do not consider OICs (Offer In Compromise) - they have to send it to a Centralized OIC Unit in Holtsville, NY or Memphis, TN who can send it out to a Field Office (Not your RO though) to make an independent determination (they do this if you have a business or have trust fund tax liabilities).

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