For the average citizen, the IRS is the ever present, ever powerful long arm of the law wielded by the US government ready to fine you, jail you, or send you to the gallows. Well, maybe not that dramatic however the IRS does have the power to sentence people to jail time. For someone owing the IRS money, this can be an actual threat to them. Al Capone after all was done in by tax evasion. So should you be worried if you owe money? Possibly, but you are most likely in a position where tax resolution would significantly help with your situation. So should you be worried? Best Tax Experts are here to let you know if you should be worried, and if so how worried?
You should be most worried if you get a letter or business card drop-off from an IRS agent. this means you are possibly under investigation for Tax Evasion or “Willful Failure to File.” There is a possibility you could be under a grand jury investigation. In the worst case scenario you could face jail time for your unpaid taxes. Avoid the same fate as Al Capone, by using our tax resolution services.
Decreasing in severity, but still not good is if the IRS gives you a Notice of Levy on wages. If you thought you paid a lot to taxes before, you will not want to see your paychecks after this. Bank accounts could be frozen in this event, however there would be a 21 day hold which gives you and your tax resolution specialist an chance to take the freeze of of your bank account. The IRS can also seize your property such as your home or real estate. If you do not act quickly, they could put your properties up for auction. Prior to all of this, you probably received a “Final Notice of Intent to Levy.” If you have received this, and did not act or handle your tax resolution, you probably have 45 days at the very least.
The start of all of this is receiving a CP504 letter, LT11, or LT16 letters. These letters can be very intimidating, but you are really about 90 days away from being levied. If you received one of these it’s the time for tax resolution with an expert such as someone from Best Tax Experts.
If you have not filed tax returns in awhile, what are your options to avoid ending up levied or imprisoned? It is certainly a scary situation, but you have time to weigh your options. Despite the fact that the IRS can put people in jail, it takes a very long time to end up at the stage. You can find out if you are in trouble by consulting someone at Best Tax Experts. We are the people you can trust with your tax resolution.