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What is a Bank Levy?

If your tax debt has been built up to a high enough of number, the IRS may opt to issue a bank levy on your own checking, savings or brokerage accounts. This is essentially when the Internal Revenue Service gives out a legal seizure of your assets, and your bank is required to send a specific portion of the money to them that you have saved with them.

Following the IRS issues a bank levy, in your California bank will freeze your assets for 21 days, and that your funds will probably be sent straight to the Internal Revenue Service, when you’ll not have the capacity to get them back.

Essentially, it’s of legal form larceny, where the government steals from its own people for tax money owed.

Can I get a Bank Levy removed?

Fortunately for you, most bank levies could be taken away immediately, depending on your individual tax situation. If we file all tax returns that are back, and can get your account into conformity with all the Internal Revenue Service and you’ve left outstanding, there’s a very high chance that we will have the ability to get your bank levy removed within days, and not weeks or months.

This way you’ll have access to the cash stored within those as well as all your accounts, instead of having them locked up, and then send to the authorities.

How Do I Stop a IRS Bank Levy?

For many people, the easiest way to discontinue an IRS Bank Levy is to use a team of specialists that have extensive experience in coping with these types of problems.

Give our Oakland tax law firm a call right away to see what we can do for you.

Have you ever neglected to file your IRS tax returns for several years? Has the IRS started to come after you for the money you owe? In case you would want to eventually find financial independence from your tax problems, you have to give our Oakland tax law firm a call immediately.

When made un-filed, back tax returns can result in a lot of interest costs and penalties on the amount that you should’ve been paying. The IRS will even file replacing tax returns for you, but not claim any deductions for example mortgage interest, dependents or anything else I’m able ot see you money on the money you owe.

Among the major problems that most individuals with back tax returns have, is that they are not entirely compliant with the Internal Revenue Service, thus cannot negotiate a better resolution until all their previous returns are filed, and they are back to a position that is compliant.

The simplest way to file your back tax returns all is to let our team of specialists go through and do them for you. We will check over everything to be sure you ha filled in the advice that is correct, have claimed the right deductions, and will be made to pay the least amount possible.

Merely by filing a few years of your back tax returns, you can significantly reduce the penalties and interest charges that you have had built up on the quantity you owe. This in itself can save 25% to 40% of the debt that is last.

Let our Oakland team ultimately help you be free.

What is the Installment Agreement Program?

Most of the time when you’ve built up a back tax debt to the IRS, they’ll expect you to repay the complete sum in one single payment. For most of US, this really is not possible, as they do not have tens of thousands dollars extra just sitting around.

This is why the IRS introduced what’s known as an installment agreement, which is basically an arrangement you enter into with them, that’ll permit you to repay the sum you owe over time, in smaller monthly obligations, instead of one big payment.

Will I Be Able to Qualify for an Installment agreement?

As it’ll increase the prepayment rate it’s going to get on the back taxes that people owe, the IRS is usually very accepting of most people to enter an installment arrangement. For most people, qualifying for an installment arrangement is a reasonably easy thing to do.

But before you apply for one and go out, you will need to know what advice that it’ll be asking for, in the best approach to present that info so you’ll have the capacity to get the top rate and payment amount potential. Our Oakland team negotiates multiple installment arrangements everyday, so we understand the very best means of getting our customers the results they need, in a payment they could manage.

Let our California specialists manage negociate your installment agreement for you, because often times we’re able to get twice as great of deal as citizens usually would, because of our working relationship with IRS contacts. It’s just like if you had a huge pipes escape – you’d desire to call a plumber in to get the job done right immediately, instead of attempting to fix it yourself.

How Can I Negotiate an Installment Agreement?

Negotiating an installment agreement could be a bit tricky for most of US, because the IRS is generally not on your side, and is only concerned about getting the money they are owed. What this means is they will frequently try and impose sizeable payments that you can’t afford, which can leave you strapped for cash, and fighting to get by every month.

Our Oakland specialists can make sure that you’re a paying the amount that you simply need to be paying based on your own present life situation, and not more.

How Much Will I Have to Pay Every Week with an Installment Agreement?

The exact amount you will have to pay each month together with the panda number of variables, for example, entire amount that you simply owe, your own monthly income and expenses, and you can negotiate with the Internal Revenue Service. But depending on your individual situation, this could be more or less.

The best way finding out exactly how much you can expect to pay, is by giving our California pros a call right now. Just a fast 15 and a phone consultation tell you just the thing you have to understand about a possible payment agreement involving the IRS and also you.

What is an Offer in Compromise Agreement?

One of the greatest software the IRS has available right now, is called the Offer in Compromise program. This program basically enables individuals would’ve gone through significant financial or emotional hardship to have their tax debt reduced to to a far lower sum, in accordance with what they are capable to actually repay within a reasonable quantity of time.

For lots of individuals, this means they could legally avoid paying upwards of 80% to 90% of their tax debt. For anybody who qualifies, this could make a massive difference in the characteristic of your own life later on.

How Can I Qualify for an Offer in Compromise?

Sadly qualifying for an offer in compromise arrangement is not the easiest thing, and many people that try and qualify we’ll not be accepted, and really give the IRS more advice than they ought to. This can occasionally even lead to the IRS boosting your tax debt again, due to the brand new info that you unknowingly gave them.

To finest increase your probability of really qualifying for an OIC deal, you need to speak to our California law firm immediately, and before you do anything else.

What Do I Need to Get an Offer?

For the majority of people to qualify for an OIC understanding, you’ll need to reveal major emotional and fiscal hardship throughout that time you haven’t filed your back tax returns. This can be anything from a job layoffs, two at a medical emergency, and a lot more things, based on your capability to earn a wage that is solid, and how significantly impacted your life.

What is the best way to negotiate an Offer in Compromise Agreement?

If you actually let to for you the very best way to negotiate this arrangement, and our California lawyers and CPAs are more than ready to assist you.

What Does My IRS Letter Really Mean?

Has the IRS been sending threatening letters or notices to your residence or business lately? Most of the time these letters and notices are very complicated to read and hard to understand for most individuals.

They generally comprise legalistic information with the intention of warning you about coming activities they’re about to take on your account or private life, on your own present tax problem, phrased in a way you cannot understand.

They will stop at nothing to send these letters to your Oakland house or place of employment. The best thing you are able to do is take action now to prevent these letters and notices from coming in the future.

What Should I Do About IRS Letters and Notices Showing Up?

The finest from showing up at work or your house that you can do in order to stop these letters and notices will be to get a hold of a seasoned California tax law firm, who knows what to do about them, and just what these letters mean.

Our California business deciphers and handles hundred of these layers per week for customers, and knows exactly what each one of them means in terms of what our clients next actions should be.

How serious are the IRS Letters and Notices being sent to my house?

These IRS letters and notices are meant to be very serious to the citizen, and usually represents a potential action the Internal Revenue Service is going to take against you. Though they’re not simple to comprehend, they mean business, and can sometimes mean the IRS is going to seize the possession of your home or car as a means of getting you to repay the sum you owe.

What is a Revenue Officer?

These officers are employed especially to harass you into reimbursing the amount that you simply owe. Until you actually repay the full amount in back tax debt for many people, they will not quit seeking you out.

If you’re having problems using a revenue officer showing up at your house or business, and only want to be free of them for good, give our Oakland pros a call promptly to learn what your choices are.