IRS Collections Archives

May 28

IRS Private Collection Agency Scams: What You Need to Know

By Salvatore Bochicchio IRS Collections

In recent years, the Internal Revenue Service (IRS) has employed private collection agencies (PCAs) to recover overdue tax debts. While this initiative aims to improve tax collection efficiency, it has also created opportunities for scammers to exploit taxpayers. Understanding how…

Jul 19

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IRS Letter 1058: What It Means And How To Respond

By Salvatore Bochicchio IRS Collections

Getting a letter from the Internal Revenue Service (IRS) can be a source of anxiety for many individuals. One particular letter, IRS Letter 1058, frequently causes confusion and worry. It is a serious matter if you've recently received IRS Letter…

May 07

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Know The Difference Between an IRS Revenue Agent and Revenue Officer

By Salvatore Bochicchio IRS Audit, IRS Collections

The Internal Revenue Service (IRS) is responsible for ensuring that taxpayers comply with tax laws and regulations. To accomplish this, the IRS employs two types of professionals who work with taxpayers: Revenue Agents and Revenue Officers. While both Revenue Agents…

Mar 08

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What Does The IRS Do To Collect Back Taxes?

By Salvatore Bochicchio IRS Collections

If you owe back taxes to the IRS, you may be wondering what actions they can take to collect the money from you. The truth is, the IRS has a wide range of options when it comes to collecting back…

Oct 01

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How Does the 2022 Inflation Reduction Act Impact IRS Collections and Audits

By Salvatore Bochicchio IRS Collections

Working with the IRS has never been easy, and tax settlement agreements are always complicated affairs. If you are currently working to pay off your tax debt, you may wonder what the recently passed 'Inflation Reduction Act of 2022' has…

Apr 20

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What is the Statute of Limitations for Assessment and Collection?

By Salvatore Bochicchio IRS Collections, Statute of Limitations

Have you ever wondered how long the IRS has to question and assess additional tax on your tax returns? For most taxpayers who reported all their income, the IRS has three years from the date of filing the returns to…

May 19

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IRS Estimates the Tax Gap to be $1 Trillion a Year Due to Tax Cheats

By Salvatore Bochicchio IRS Collections, News

As part of its oversight role, Congress is constantly assessing the economic health of the United States, so hearing from Internal Revenue Service Commissioner Chuck Rettig that the country may be losing up to $1 trillion a year in evaded…

Aug 22

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IRS Suspends Sending Collection Notices to Taxpayers with Outstanding Balances

By East Coast Tax Consulting IRS Collections, IRS Notices

The IRS has temporarily stopped the mailing of three collection notices – the CP501, the CP503 and the CP504 – that go to taxpayers who owe back taxes.

Apr 15

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Due Date Postponement for IRS Filing, Payment, and Other Actions as a Result of COVID-19

By East Coast Tax Consulting IRS Collections, Tax Penalties, Tax Relief, Tax Returns

On April 9, 2020, the IRS issued Notice 2020-23 which has added to the due date postponement of filing and payment obligations to include those due on or after April 1, 2020 and before July 15, 2020. This notice expands…

Mar 04

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Owe The IRS Money You Can’t Pay?

By East Coast Tax Consulting IRS Collections, Tax Problem Help, Tax Resolution Strategy

Sometimes it happens by accident. You didn’t withhold enough from your paycheck during the year and find you owe the IRS money when it’s time to file your tax return. Or maybe you came into some money, spent it, and…

IRS Private Collection Agency Scams: What You Need to Know

IRS Letter 1058: What It Means And How To Respond

Know The Difference Between an IRS Revenue Agent and Revenue Officer

What Does The IRS Do To Collect Back Taxes?

How Does the 2022 Inflation Reduction Act Impact IRS Collections and Audits

What is the Statute of Limitations for Assessment and Collection?

IRS Estimates the Tax Gap to be $1 Trillion a Year Due to Tax Cheats

IRS Suspends Sending Collection Notices to Taxpayers with Outstanding Balances

Due Date Postponement for IRS Filing, Payment, and Other Actions as a Result of COVID-19

Owe The IRS Money You Can’t Pay?

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