Did you just receive a letter in the mail from the IRS stating their intention to put a lien on your assets? Then you need to request collection due process hearing representation. When you owe money to the IRS, whether it is due to years of unpaid taxes or a mistake that was made on your tax returns which led to a failure to disclose all of your income (or any other reason for that matter), they will take whatever steps are necessary to ensure that they receive the funds owed to them. In most cases, this is process begins with a written notice. So, what should you do when you receive one? And what possible options are at your disposal? Let’s dive into an in-depth look at the process and what options are available.
When the IRS Believes You Owe Them Money
Sometimes, errors occur on tax forms that are not caught before they are submitted. For instance, if your wages were not properly disclosed on your yearly return, you may owe money. On the other hand, the IRS can also make mistakes. Though not often, this does happen, and it usually does not turn out in your favor because they now think you owe them back taxes and want to collect. No matter the reason, when a discrepancy is found, a notice will turn up in your mailbox from the IRS. They may plan to place a lien or levy on your home or business, your vehicles, your bank account, or even your future paychecks. This kind of notice is not ideal, but it happens more often than you think, so do not panic.