I represent taxpayers in New Hope, Minnesota and all the 50 States in the United State before all administrative levels—examination, collection, and appeals—of the Internal Revenue Service (IRS) and Minnesota Department of Revenue.

For you to stop IRS Collections you must understand the collection process. Here are 3 things you could do to stop collection immediately.

1.By Time by Calling – The first step to stop collections is to call the IRS or Minnesota Revenue(the phone number to call is on the IRS notice/letter you received or google it).You want to know the options that are available to you. You also want to know what the IRS/Minnesota Revenue are planning to do next ,maybe levy your bank account, garnish your wages or enforce other collection actions on your assets, time is of the essence. On the phone you should ask the Revenue Officer/Agent what are your options to pay or simply ask for more time. Most times the IRS/MN agent will be willing to put a hold on the account for 30 days or more.

2.Ask to be put in Uncollectible Status – This is a special situation where you don’t have money to pay right now to pay the IRS/MN. If the IRS/MN determines that you can’t afford to make tax payments, it may decide your account is currently not collectible. That means they would not garnish your wages or levy your bank accounts. It is important to note that interest and penalties will continue to accumulate on the account and you might receive call 6months down the line from the IRS  to check if you are now able to pay the back tax debt. You might be asked to submit Form 433 and supporting documents to see if you really  do qualify for the Uncollectible status. You must have little or no money left over after paying essential living expenses each month, such as rent, utilities, and groceries, to qualify for this relief.

3. Set up a Payment Plan– If you are in compliance, the IRS/State may agree to settle your tax debts by allowing a payment plan. Tax Compliance means you have filed the last six years of tax return, current on your tax withholding (W-2 employee), current year Estimated Tax Payments(Self Employed) and Current quarter payroll tax deposits(Business).Depending on the amount of back taxes you owe the IRS/MN may allow up to 72 to 84 months to pay your current tax debt as long as you don’t owe taxes again in the future years.

There are other options to settle your back taxes like Offer in Compromise and Bankruptcy. If you or someone you know have federal or state tax issue such as Income, Payroll, Sales tax, please feel free to contact me at either (612) 516 5878  or by email at joe.alabi@fishcointax.com.

Please feel free to contact me using the information below.

Joe Alabi EA MAcct(Taxation) CTRC

www.fishcointax.com

Ph. (612) 516 5878

Fax (612) 516 5878

Email : info@fishcointax.com