Real Estate Tax, LLC & S corp Tax, Multistate Tax, Tax planning
IRS collections, audits, liens, levies, more. BMG Consulting & Tax PLLC - One to One help - CPA Phoenix, Arizona and USA and Internationally
Bmgconsultingtax.com; 623-219-6821
• Why It’s Smart: BMG Consulting & Tax PLLC can analyze your situation, negotiate with the IRS, and ensure you take the best approach.
• When to Seek Help: Fo
r large debts, complex situations, or if you’re overwhelmed.
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Key Tips
1. Avoid Scams: Work only with licensed professionals. Beware of “tax relief” companies making unrealistic promises.
3. Stay Organized: Keep records of all communications, payments, and documents sent to the IRS.
1. Notification of Tax Debt
• The process begins with the IRS sending a Notice of Balance Due or a similar letter.
• This notice will include the amount owed, which may include taxes, penalties, and interest.
• The IRS expects immediate payment or for you to take steps to resolve the debt.
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2. Collection Letters
• If the balance remains unpaid, the IRS will send additional notices, including:
o Final Notice of Intent to Levy and Notice of Your Right to a Hearing (Letter 1058): This is a warning that the IRS may take collection actions like wage garnishment or bank levies.
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3. Collection Methods
If the debt remains unpaid, the IRS can take enforcement actions, such as:
• Wage Garnishment: Deducting money directly from your paycheck.
• Bank Levies: Seizing funds directly from your bank accounts.
• Tax Liens: Placing a claim on your property, making it difficult to sell or refinance.
• Property Seizure: Rarely, the IRS can seize assets like cars, real estate, or other valuables.