1-800-548-4639I Owe Back Taxes: What Are My Options for Resolution?
The Internal Revenue Service (IRS), state treasuries and local governments uphold firm tax due dates. Back taxes are the funds you owe after you miss a due date or submit less than your entire balance. Individuals and businesses accrue back tax balances for numerous reasons. Sometimes, your tax bill could be more than the amount taken from […]
Read moreWhat Assets Can the IRS Seize?
The IRS uses various tools to collect back taxes, with asset seizure being one of the most serious. Under Internal Revenue Code 6331, if a taxpayer fails to pay taxes within 10 days of a notice, the IRS can seize their assets, including vehicles, artwork and jewelry. If you’re facing financial difficulties, BC Tax can […]
Read moreWhat if You Can’t Pay Your Taxes?
What are the implications of failing to pay taxes? Is there any solution for those who cannot afford to pay? If yes, what are the options and processes involved? This guide answers these questions and discusses how a tax professional can assist. BC Tax helps people with challenges paying their taxes through effective, personalized and […]
Read moreWhat Is IRS Letter 1058 or LT11 & How to Respond?
Communication from the IRS should always be taken seriously, especially if you receive Letter 1058 or an LT11 notice. These documents are your last chance to settle your tax debt before the IRS begins taking action to collect it. If you receive Letter 1058 or LT11, here are some things to remember before responding to […]
Read moreWhat Is an IRS Statutory Notice of Deficiency? Letter 531 & Notice CP3219A
Even if you believe the information you filed on your tax return is correct, the IRS may find discrepancies following an audit or examination. If this happens, you may be sent an IRS Statutory Notice of Deficiency to notify you of additional taxes owed. In this guide, we will examine two types of IRS Statutory […]
Read moreWhat Is IRS Notice CP90 (Final Notice of Intent to Levy) & How to Respond
If your tax balance is overdue, the IRS must send you multiple notices before they seize your assets to satisfy the debt you owe. The last warning you receive is called a Final Notice of Intent to Levy. Unsure how to respond to IRS Notice CP90? The tax experts at BC Tax can help. Learn […]
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