Wednesday, October 16, 2013
The government will reopen effective immediately. The Senate agreed to pass the bill to extend the debt ceiling for an additional 90 days or until January 15th. Obama will sign the bill as soon as it lands on his desk tomorrow and furloughed workers are to report tomorrow. Thus, the government shut down will end effective immediately.
For more information feel free to call me at 720-398-6088 or check out my website at www.highlandtaxresolution.com.
We had a client who came to us with a smaller IRS tax issue and an IRS tax lien on her credit report. She had several goals in mind as it related to the IRS tax lien and the removal of the IRS tax lien. One of her primary goals was to repair her credit. In order to do so we needed to work quickly on the IRS tax lien removal in order for her to initiate the process of repairing her credit. When dealing with removing an IRS tax lien there are several items needing to be completed:
- First and foremost we set up a payment plan for the debt to be paid over 72 months - this is called a streamlined agreement
- Secondly, we set up the plan to be paid via direct debit installments, therefore the IRS would actually go in and debit the account on the date we selected for payments to be made
- Finally, we applied for a lien removal once we were sure the payment plan was set up and we had at least applied for direct debit program
The process from start to finish took about 8 months. However, we were able to successfully implement the removal of the IRS tax lien and now our client is on her way to getting her credit repaired. Her secondary goal is to purchase a home. Once her credit is repaired, she will qualify for a loan, and thus get herself into a home. She was very pleased with our work and is one of the testimonials on our website at www.highlandtaxresolution.com. The IRS tax lien can be removed, however, there are several steps to take in order to get there. We were very pleased with the results and more than happy to share.
If you are in need of an IRS tax lien removal and are unsure on how to go about getting the IRS tax lien removed call us at 720-398-6088 or check our our website at www.highlandtaxresolution.com.
Thursday, October 10, 2013
IRS not issuing liens or levies, enforcement actions limited, during shutdown
Interesting Article regarding lien and levy issues.
Interesting Article regarding lien and levy issues.
Saturday, October 5, 2013
IRS has announced on its website (irs.gov/uac/Newsroom/IRS-Operations-During-The-Lapse-In-Appropriations) that its operations have been scaled back due to the government shutdown. However, it emphasized that taxpayers must nonetheless continue to meet their tax obligations as normal.
Background on the shutdown. Due to the House and Senate's failure to pass a short-term spending bill to keep the government funded, the government was shut down on October 1. In the days leading up to the shutdown, the House passed several versions of the spending bill, each of which contained a provision that would eliminate funding for, delay significant provisions of, or otherwise make changes to Obamacare. The Senate, in turn, rejected the House-passed versions of the bill and repeatedly sent a "clean" version of it back to the House.
The government shutdown will continue until Congress can reach an agreement.
Effect on IRS operations. The shutdown affects nearly all governmental agencies, including IRS. In anticipation of the potential shutdown, the Treasury Department had released its 63-page long "FY2014 Shutdown Contingency Plan (Non-Filing Season)" for IRS on September 27. On October 1, IRS issued a release on the shutdown's effect on its operations. Highlights follow.
* Keep filing returns and making deposits on time. Individuals and businesses should keep filing their tax returns and making deposits with IRS, as required by law. Individuals who requested a 2012 income tax filing extension should file their returns by Oct. 15, 2013, and all other tax deadlines-including those covering individuals, corporations, partnerships, and employers, as well as payroll taxes-remain in effect. IRS will accept and process all tax returns with payments, but will be unable to issue refunds during the shutdown. IRS encouraged taxpayers to file electronically since most of those returns are processed automatically, noting that the processing of paper returns will be delayed until full government operations continue.
* No in-person or live phone assistance. No live telephone customer service assistance will be available during the shutdown. However, most automated toll-free telephone applications will remain operational. IRS walk-in taxpayer assistance centers will also be closed. IRS's website will remain available, although some of its interactive features may not be available.
* Certain appointments presumed cancelled. While the government is closed, people with appointments related to examinations (audits), collection, Appeals or Taxpayer Advocate cases should assume their meetings are cancelled. IRS personnel will reschedule those meetings at a later date.
* Automated notices will continue. IRS won't be working any paper correspondence during the shutdown, but automatic notices will continue to be mailed.
Please keep an eye out for more information. You may find additional information at www.highlandtaxresolution.com.