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By Angelia Sampson
When you get CP90 “Final Notice of Intent to Levy & Notice of Your Right to a Hearing” from the Internal Revenue Service, it’s important to pay attention. The government is totally serious when they send this notification to your mailbox. This notice is your red alert of their intention to claim certain belongings. If you don’t take your CP 90 from the IRS seriously, they could take your savings account, your income, or even your home.
The Reason for a CP 90 Notice from the IRS
CP90 is sent out to let you know an account balance is still due, only after their past letters concerning that outstanding total amount continued to be neglected. The CP 90, differing from other notices sent before, advises you that an IRS Levy of some kind is imminent if the debt amount owed goes overdue. They want you to resolve your tax debt issue within 1 month of the CP 90’s date.
Conceivable IRS Notifications Included with IRS Notice CP90
Your IRS CP 90 letter will include the following notifications from the IRS:
Request for a Collection Due Process Hearing, Form 12153
What You Should Know About The IRS Collection Process, Publication 594
Collection Appeal Rights, Publication 1660
Guidance Relevant to IRS Notice CP90
The notices that come with IRS Notice CP 90 are designed to let you know that the IRS will file a levy on your inbound federal payments and add them to the amount that is owed to the IRS. They can apply this to any payments owed to you, such as:
– Your Social Security Payments
– Work Salary
– Workplace Reimbursements
– Employee Travel Advances
All that you possess, even your personal belongings and/or the legal rights to your property can be levied, including real estate; cars, vans, etc.; business assets (like accounts receivable); checking accounts; paycheck; commissions; and any and all other income.
Risking a Federal Tax Lien
You risk the IRS issuing a Federal Tax Lien against you and your property if you get the CP 90 Notice from the IRS. The Federal Tax Lien may seriously ruin your credit history, rendering it hopeless to do any action involving credit. It’ll become a trial, if not improbable, to start a new charge card, shop for a new vehicle, or do anything else credit-related.
How Soon Do I Have to Take Care of the Amount Due Listed in IRS Notice CP90?
The IRS states in CP90 that they are looking for you to handle the debt total within thirty days of the date posted in IRS Notice CP90.
What if I Refuse to Pay or Don’t Agree with the Debt?
If you do not send them the amount stated in IRS Notice CP 90, an IRS Tax Lien and Tax Levies will inevitably be filed towards you. Nothing will be protected, not your salary, the money in your bank account, your property, or even the roof over your head. This may not transpire today or even tomorrow, yet it’s certain if you let your IRS Tax Debt go unpaid. You may disagree with what is shown in this CP 90, but you ought to make contact with either the IRS or a Tax Debt professional to come up with the reason why you feel that you should not have to pay the debt amount and end the IRS Tax Debt situation.
Working with the Ideal Tax Debt Professional for Your CP 90 Dilemma
You help to increase your likelihood of winning if you choose to use a Tax Settlement Corporation for settling your situation. Tax Debt Relief businesses are comprised of informed professionals, including Tax Attorneys, Licensed Enrolled Agents, and Certified Public Accountants (CPAs). Make sure the Tax Debt Relief Organization you are using the services of has experienced gurus in-house and that they hold an A rating or better with the Better Business Bureau (http://bbb.org) to ensure that they can offer you unequaled services.
About the Author: For expert tax advice visit
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Source:
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