When you owe money to the Internal Revenue Service (IRS) that you cannot afford to pay, one potential form of relief is having your account placed into uncollectible status. This status temporarily suspends collection activity from the IRS due to financial hardship. Here’s a closer look at what uncollectible status means and how to potentially…

If you find yourself owing money to the IRS, it’s important to know that you have options for resolving that tax debt. Three potential paths include having your debt placed in uncollectible status, setting up an installment agreement, or negotiating an offer in compromise. Here’s a breakdown of what each option includes and the key…

When dealing with tax matters, few documents are as critical as tax transcripts from the Internal Revenue Service (IRS). Tax transcripts provide an official summary of your tax return information for a given year or years. While they may seem like a mundane government record, reviewing your tax transcripts is important for several reasons. Verifying…

If you owe back taxes to the Internal Revenue Service (IRS), one of the most critical things to be aware of is the 10-year collection statutory expiration date. This regulation places a strict time limit on how long the IRS can attempt to collect the tax debt from you. Here’s why the 10-year collection statute…

If you have outstanding federal tax debt, the IRS wants to see that you fully comply with your current tax filings and payment obligations. Demonstrating a renewed commitment to tax compliance is essential for resolving old debts favorably. The IRS’s primary concern in collections cases is ensuring you won’t fall behind again on current and…

Getting an IRS Final Notice of Intent to Levy (Notice LT11 or LT39) in the mail can be scary and stressful. This is the agency’s last warning before taking your money or property to satisfy an unpaid tax debt. However, you still have some options at this stage to prevent enforced collection action. Here’s what…