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Category: tax collections

IRS Collection Statute: A Key Consideration for Every Taxpayer

20 December, 2024 | tax collections

Summary The IRS has 10 years to collect unpaid taxes, which is called the Collection Statute Expiration Date (CSED). The CSED is triggered when the IRS assesses taxes or a tax return is filed. Certain events, like filing for bankruptcy or applying for an Offer in Compromise (OIC), can toll the CSED, pausing the IRS’s collection efforts and extending the collection timeframe. While waiting for the CSED to expire, taxpayers can manage their debt through a Partial Payment Ins... CONTINUE READING

Letter 9297 – IRS Has Assigned a Revenue Officer to Your Case

8 September, 2024 | tax collections

Summary   IRS Letter 9297 (Summary of Taxpayer Contact) indicates that an Internal Revenue Service (IRS) revenue officer is working on your account, and the agency needs your financial information. The IRS typically assigns accounts to revenue officers when taxpayers have compliance issues, a substantial back tax balance, or the agency's automated approach has failed to collect payment. Form 9297 lists the documents and information yo... CONTINUE READING

IRS Automated Collection System (ACS)

7 April, 2024 | Payment Plans tax collections Tax Help Tax Issues

What to Expect When the IRS's Automated System Tries to Collect Your Back Taxes If you have outstanding tax debts your account is typically sent to the IRS Automated Collection System (ACS). The ACS is a system used to manage the collection of outstanding IRS tax debts from individual taxpayers and businesses. If you have received a notice from IRS ACS and are unsure what to expect, here’s everything you need to know. What is the IRS Automated Collection System?... CONTINUE READING

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IRS Collection Statute: A Key Consideration for Every Taxpayer

Summary The IRS has 10 years to collect unpaid taxes, which is called the Collection Statute Expiration Date (CSED). The CSED is triggered when the IRS assesses taxes or a tax return is filed. Certain events, like filing for bankruptcy or applying for an Offer in Compromise (OIC), can t...