If you are unable to pay your tax balance, whether in full or in installments, the IRS will take action. It is a last resort for the IRS and it can be avoided if Jones, Savarese, Harrington & Company assist with your St. Charles tax issues early on in the process. First, the IRS will contact you via mail with an outstanding tax bill. Overdue tax debts are subject to penalties and interest. This means the longer you wait to pay, the larger your balance becomes. The simplest way to prevent St. Charles IRS seizures is by avoiding a large tax bill.
For some, this is easier said than done. If you cannot make arrangements to pay voluntarily, the IRS will begin the collection process. This may ultimately lead to St. Charles IRS seizures. When the collection process begins, you will receive a written notice from the IRS informing you of their authorization to liquidate your assets in order to cover the tax due.
“If the IRS seizes your house or other property, the IRS will sell your interest in the property and apply the proceeds (after the costs of the sale) to your tax debt.” This may be your worst nightmare, but it can be avoided if we get involved soon enough. If you have already received a seizure notice, you must act quickly.
Jones, Savarese, Harrington & Company tax advisors can work on your behalf to prevent the process from continuing and begin resolving your IRS issues. Of course, it’s best not to allow any IRS issues to get to this point, but if it does, you need tax accounting experts on your side otherwise you could lose everything.