Thursday, June 27, 2013

Federal Tax Levy?

Have you ever had an Federal tax levy?  Has the IRS frozen your bank accounts, wages, or accounts receivables? Has the State ever done the same?  I am going to explain some preliminary steps to ensure how you can keep a Federal tax levy from happening again, but also work on getting it released!

First and foremost pay attention to any and all IRS notices as they come to you in the mail. By law the IRS has to follow strict procedures before issuing a Federal tax levy. They also have to issue several notices prior to issuing a Federal tax levy notice to your bank, employer, or accounts receivables. If the Federal tax levy has been issued in error, or you feel the IRS did not take the proper steps to inform you they may levy, there are corrective measures that can be taken to fight the levy based on procedure.

Secondly, ensure you have met all IRS deadlines,  have all tax returns filed, as well be sure you have made all Federal Tax Deposits or Estimated Tax Deposits. Don't forget you must also be current with any and all installment obligations if you have a payment plan in place. .  If you are not current or compliant, take the necessary steps to get compliant. Now I know what you are going to ask, "How can I pay my current taxes if the Federal tax levy has my money tied up?" . As if the IRS hasn't heard this before, a lot can be negotiated by way of a release with a promise to get current and compliant, use levied funds to make your back installment payments, or use the funds to make a lump sum payment to the IRS.

Lastly, if you have met all of the requirements, and the Federal tax levy is still creating a hardship, start putting together the following:

- How much did the Federal tax levy capture per source?
- Put together a list of expenses that will not clear if the Federal tax levy remains in place

Once all of the items are put together attempt to negotiate a release of the Federal tax levy based on hardship. It is possible to negotiate a release of the Federal tax levy but there are a lot of requirements that need to be met, and a lot of negotiating to be done. In other words, if you have been levied, the IRS is trying to catch your attention so they can resolve the case. Whether it is by collecting on the IRS balance dues by way of an Federal tax levy, or working with you directly to set up an installment agreement, the IRS wants to collect as much money as quickly as possible.

If you have been levied previously, or have a current Federal or State tax levy against your accounts, please call us today as we can put our experience to work for you! We will gladly assist you in your time of need.  You can reach us at 720-398-6088 or on our website at

Wednesday, June 5, 2013

IRS Tax Debt? Consider Partial Payment!

If you or someone you know has IRS Tax Debt, pay attention.  Recently we were successful with implementing a $52 per month payment plan for one of our clients.  How you ask? Simple, follow instructions, file and pay all current IRS Tax Debt, and let Highland Tax Group, Inc. handle the rest.
Our client came on board in February this year after his Offer In Compromise was denied by the IRS. His offer was denied for several reasons; first, he didn't offer what his assets were worth nor what his income and expense discretionary amount was worth, two, he had a bankruptcy attorney prepare his offer for him, and three, his bankruptcy attorney did not fill out the forms correctly.  He has been dealing with the IRS Tax Debt for several years without a solution in sight. After he came to Highland Tax Group, Inc. we immediately proceeded to discuss the situation with the IRS and decided the Offer In Compromise was not the best way to go for our client at this time.  Given the fact our client owes an IRS Tax Debt of $70,000, we figured a partial payment plan may be the best option.
After a review of the necessary financial form with our client we initially determined our client could not afford to pay the IRS Tax Debt at all.  However, we wanted to offer something at this time so our client could at least resolve his IRS Tax Debt for now.  We had to present a lot of information backing up the data listed on the financial form.  Information such as a letter from his parents securing a note, a letter from his parents for a child care expense, and a note from him employer regarding a past due debt, etc.  We also presented bank statements, pay stubs, utility statements, a copy of his lease, and; the IRS even allowed our client an expense for our fee.  If you have IRS Tax Debt you too can get our fee allowed as an expense on the financial statement form.
After 2 or 3 calls with the IRS we successfully set up a 2 year partial payment plan for $52 dollars a month to be applied toward our client’s IRS Tax Debt.  Of course, we are still seeking to file an Offer In Compromise, however, our client needs to make some significant changes to his financial situation, at our direction, in order to qualify.
Another satisfied client as we were able to successfully negotiate a plan to meet his needs and budget as it relates to his IRS Tax Debt.

Please see more about our services at or call me at 720-398-6088 for a free consultation.