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[null,"What is the difference between a lien and a levy?",null,"A lien is a legal claim against your property when you neglect or fail to pay a tax debt.  The \"Notice of Federal Tax Lien\" is a document that goes on file at the local courthouse attesting to that lien.   It is a public record.  The biggest impact of a \"Notice of Federal Tax Lien\" is that it will likely impact your ability to buy & sell property and/or get a loan.\n\nA levy, in this sense, is a collection by legal authority.  It gives the IRS the authority to intercept or take assets to pay a debt.  Usually, it is used for garnishements, freezing a bank account and/or seizure of property."]
[null,"What is a lien or a \"Notice of Federal Tax Lien\"?",null,"A lien is a legal claim against your property when you neglect or fail to pay a tax debt.  The \"Notice of Federal Tax Lien\" is a document that goes on file at the local courthouse attesting to that lien.   It is a public record.  The biggest impact of a \"Notice of Federal Tax Lien\" is that it will likely impact your ability to buy & sell property and/or get a loan."]
[null,"What is a levy?",null,"A levy, in this sense, is a collection by legal authority.  It gives the IRS the authority to intercept or take assets to pay a debt.  Usually, it is used for garnishements, freezing a bank account and/or seizure of property."]
[null,"Can I really settle my tax for \"pennies on the dollar\"?",null,"The short answer is, \"It depends\".  It is by no means as easy or sure as a lot of people make it out to be.  In fact, it is far more likely that you will not be able to negotiate a lower liability.  Remember the old adage, if it sounds too good to be true, it probably is.  See \"Partial Pay Installment Agreements\", \"Collection Statute Expiration Dates\", \"Uncollectable status\", and \"Offer in Compromise\"."]
[null,"What is a Collection Statute Expiration Date?",null,"Generally speaking the \"CSED\" is 10 years from the date of assessment.  At that point, even if you wanted to pay, there is no balance due and therefore nothing to pay.  That being said, there are a lot of exceptions to the rule, such as if you filed bankruptcy, an offer in compromise, etc.  Those things add back to the 10 years."]
[null,"What is a Partial Pay Installment Agreement?",null,"A \"PPIA\" is when the IRS determines you can pay $xx per month and paying that much will not full pay your balance before the CSED.  Say your balance is $5,000.  The IRS determines you can only pay $100 per month and there is only 16 months until the CSED.  You will make 16 $100 payments and the balance of $3,400 is written off."]
[null,"What is uncollectable status?",null,"Uncollectable status is when the IRS examines your finances and determines that your allowable expenses are the same of more than your income, leaving nothing left.  The key is \"allowable expenses\".  You may very well have a little money left over each month after paying all your bills.  But, the IRS uses national & regional standards that may be higher than your actual cost.  This can, and more often does, work against you though.  You may spend $500 per month on food, but the allowable may only be $450.  They will only credit you with the $450."]
[null,"What is an Offer in Compromise?",null,"An OIC is exactly what it sounds like - you may owe $100,000 but offer $5,000 to settle it.  (and NO, this is not a real scenario or a suggestion as to how much to offer).  The amounts that the IRS will accept are dependent on a lot of factors such as your income, expenses, age, health, ability to earn, etc.  There is no rule of thumb for a percentage to offer, etc.  "]
[null,"What if the IRS is wrong about my income, expenses or how much I owe?",null,"That's where the appeals process comes in.  I can really only speak of Revenue Officers because that's where my experience is, but most RO's are willing to listen to reason and correct whatever needs to be.  If however you can't get a satisfactory outcome, you can file an appeal.  Then, the issue will be forwarded to an appeals officer who is independent of the Revenue Officer and will render their own decision, which is almost always binding on the Revenue Officer.  \nThe expected benefit needs to be weighed carefully against the cost because the appeals process can be long and expensive if you have representation."]
[null,"I received a summons today.  What do I do?",null,"First, read it carefully.  A lot of people receive a summons copy for reference when the IRS summons for bank records, etc.  In those cases, you don't need to do anything, they just sent you an informational copy.\nIf the summons is demanding some action from you (usually to show up for an appointment), make sure you do what it says.  If you can't make the time or date, call them and ask to make it on a different day/time.  FYI, earlier is always better.  If you try to make it later, they may deny."]
[null,"How do I notify the IRS that my address changed?",null,"Usually it is enough to simply use your new address when you file.  Otherwise, use Form 8822 (Change of Address) or Form 8822-B Change of Address for a Business)"]
[null,"What should I do if I have not filed taxes in several years?",null,"First, the obvious . . . File them.  The only way you will know how bad the issue is, is to see how much you will owe.  You can't do that without filing.\nIf you think you may have a refund on any of the more current years, get them filed quickly.  Generally, if you don't file within 3 years of the due date, you forfeit any refund you would have received. \nThe other reason for filing the most recent is to stop penalties for having not filed.  You can always amend the returns if needed.  \nTime is definitely not on your side.  Get them filed quickly even if you have to get someone to do it for you."]
[null,"Will the IRS send me to jail?",null,"Highly unlikely.  Jail time is reserved for cases that are especially willful, fraudulent, etc.  Anyone that does go to jail knows a long time in advance of it happening.  I guarantee you they were not surprised."]
[null,"Will I lose my home?",null,"Again, highly unlikely.  In order for the IRS to take your home, your case would either need to be especially egregious or some other extenuating circumstances.  Also, like going to jail, you will not be surprised by it.  It will take years usually and the IRS has to get a judge to agree to it.  "]
[null,"Why am I suddenly getting so many phone calls from people wanting to help me with the IRS?",null,"Likely, the IRS filed a Notice of Federal Tax Lien (NFTL) at your local courthouse.  A lien is a public record.  One of the ways tax resolution companies find clients is to poll the courthouses for new liens filed."]

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