Form 433-B: How Creators Report Business Finances to the IRS
Form 433-B is the IRS collection information statement used to report the finances of a business that owes federal taxes. It gives the Internal Revenue Service a current view of […]
Blog and Articles
Innocent Spouse Relief: Avoid Liability for a Spouse’s Tax Mistakes
Innocent spouse relief may release you from all or part of a joint tax balance, including tax, penalties, and interest, when your spouse’s income, deductions, credits, payment failure, or financial […]
Federal Tax Lien Release: How to Remove an IRS Lien After Payment
A federal tax lien release ends the IRS’s legal claim against property tied to the liabilities listed on a Notice of Federal Tax Lien once those liabilities are satisfied or […]
Currently Not Collectible Status Foreign Taxpayer: How CNC Works
Currently not collectible status foreign taxpayer rules may allow the Internal Revenue Service to pause most collection actions when you cannot afford to pay your tax debt and still cover […]
IRS Bank Levy: What Happens When the IRS Freezes Your Account
An IRS bank levy directs a bank or financial institution to freeze and send available funds to the Internal Revenue Service to collect unpaid federal tax debt. When the financial […]
What Is Form 12153? How to Request a Collection Due Process Hearing
Form 12153 is the IRS form used to request a Collection Due Process (CDP) hearing after you receive certain IRS collection notices. Filing Form 12153 on time can protect your […]
Notice of Federal Tax Lien: How IRS Tax Liens Work and What They Mean
A notice of federal tax lien is a public notice that the IRS files to alert creditors that the United States government has a legal claim against a taxpayer’s property […]
CP503 Notice: Why the IRS Sent a Second Reminder and What to Do Next
A CP503 notice is the IRS’s second reminder that one of your tax accounts still has an unpaid balance. It tells you how much you owe, when payment is due, […]
CP501 Notice: Why the IRS Sent a Payment Reminder and What to Do Next
A CP501 notice is an IRS payment reminder for an unpaid balance on one of your tax accounts. It means the Internal Revenue Service has not received payment or a […]
IRS Letter 1058: Understanding Your Final Notice Before Collection
IRS Letter 1058 is a final notice that warns the Internal Revenue Service may levy your property or rights to property for an unpaid tax balance. It also gives you […]