There are many reasons why you might owe money to the Internal Revenue Service (IRS) or a state agency. If you filed your tax return and was not able to pay your balance in full; if you did not file a tax return, but received a W-2, a 1099 form or any other tax-related form; or if you were audited and did not pay your bill, the IRS (and if you are in California, the Franchise Tax Board, the Employment Development Department or the State Board of Equalization) will try and collect from you.
They will start the process by sending you notices stating the amount owed, and if you do not act promptly, they might take money from your bank account (bank levy), lien your property, or have your employer deduct money from your paycheck (wage garnishment). If you are a business, they may seize your assets, levy your accounts receivables or even take money directly from your cash register.
If you received a letter from the IRS (FTB, EDD or BOE) stating that you owe them money, do not wait to look for help. We know it can be overwhelming to deal with it on your own, but not dealing with it at all can cause devastating consequences. Contact us to learn how we can assist you through the process and help you set up a small payment plan or settle your debt through an Offer in Compromise.