Picture this: It’s December 15, you are prepping for the holidays, getting some last minute shopping done and talking to relatives about who is going to be where. All is well. Sure you have some issues with the IRS but now is not the time to think about that. You will deal with it in January and work it out. Then…BAM…half of the money in your bank account just went missing. Or worse, only a few dollars is left. What about rent? Groceries? Kids Presents? Last minute holiday lights? A Christmas tree?
The IRS is notorious for issuing levies in December and through the holidays into January. WHY? Because they know you put money into the accounts. They are well aware that people get holiday bonuses and cash in investments or transfer savings into bank accounts for the holidays. This is the time of year that taxpayers have a little extra in the accounts. So for the IRS, this is hunting time. As a tax firm with over 25 years experience in this very industry, we have seen this increase quite a bit ion the last 10 years. Every year, more potential clients call us to tell us they have been wiped and cleaned out of their checking or savings accounts. The IRS takes no mercy. To make it even worse, the IRS gives you a limited amount of time to get the bank levy back. But they also close the last two weeks of the year to prepare for the upcoming tax season. So even if you tried to fix it, you can’t. You will hear, “Our offices are currently closed.” The IRS collection computer and mail systems are not the same as the rest of the systems and oddly, these never need “Updating” for the holidays. They don’t take a break for the holidays and they know you wont be able to do anything about a wicked bank levy or an 85% wage levy.
Collections Never Closes!
Sure we can help these clients and we generally get their money back fairly soon, but for existing clients, we protect them from this. We monitor their cases and don’t let it get to this stage. The IRS send notices and each one, although they seem like the same threatening garbage, is different. Our firm has mastered the art of deciphering the codes and the notice timing. We get in front of the problem before it becomes one.
What can you do? Two things.
#1. Pay the IRS. Sometimes the problem has gotten so bad, the IRS no longer is interested in a payment plan. They just want you to liquidate and pay it off. If not the full balance, then liquidate as much as they want. But if you have money in your account, they will take it. Then they will only release it if you petition and jump through the right hoops. Not a fun gift for the holidays and this only will work if they are not closed already. If they are closed, you are SOL.
#2. Get in front of the problem. It will eventually happen. Congress just approved $900 million for IRS enforcement for next year, 2020, a 56% increase. Why? because the government wants to get tougher. that means more bank levies, more wage garnishments, more asset forfeitures, more, more, more. They are stepping it up and they also wont be lenient. So if it happens, chances are you wont get it back without good representation. They know doing it on your own, they can run circles around you. So getting the right team and advice early will prevent this and get you on the path to resolution.
Why Republic Tax Relief? Its just what we do. We only do tax relief and resolution. We are not a tax firm focused on filing, like H&R Block or Liberty Tax or that corner CPA that does 100 filings a year and carries 75 clients. We have been doing this for 25 years, this is our specialty and we are experts in fighting the IRS to fix taxes in your favor, not file them in the IRS’s favor. We are veteran owned and operated and aren’t afraid to get in the trenches and get dirty. We fight for our clients.
If you are facing IRS or State tax collections, give us a Call us. 800-710-2202. No obligation, free consult to go over your options. You could save thousands or prevent tons of headache just around the corner.