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Form 12153 Chandler Arizona: What You Should Know
In some cases, the amount you owe is enough to discharge the debt if you meet certain conditions. Lien, Levy or Debt Settlement? The lien or levy you receive does not necessarily mean the IRS knows you have a debt. It means the IRS found you to be in violation of tax law, even if your income was below the thresholds. If your tax situation is not settled, you may have to pay the IRS any remaining debt. IRS Forms and Links on Collection Hearings Liens, Levy and Debt Settlement A lien or levy means the IRS entered into an agreement with the debtor in which the debtor agrees to pay a tax debt that is greater than the debt the IRS is seeking to collect. If the lien or levy is on a property other than the property where you made a payment, such as in another state, that agreement can include a debt settlement. The IRS might send you a notice of lien or levy stating the amount of the tax debt or saying in plain language that the IRS has obtained jurisdiction over the property. The IRS will not notify you in advance of any collection actions against you because the notice includes information that you might not be aware of. This notice is not a court judgment of debt that you must comply with until you pay or contest and/or appeal the lien or levy. The IRS may enter a non-compliance order and send you certain notices and instructions with the Non-Compliance Order. In this case, it is wise to pay the debt (or contest, appeal or agree to pay) as soon as possible. The lien is part of the tax laws. It does not create a new debt because you are the taxpayer or even because a lender obtained the lien. However, it does prevent you from collecting the debt from the date the lien or levy is entered into. If you want to collect the debt, you must file an application in the tax court. This is because the interest or penalty on the unpaid tax is due at the time you file. It is important to consider: · If the IRS uses a lien to collect a debt that you owe, it must follow IRS Publication 5505, Notice of IRS Collection Actions for Non-Federal Tax Withholding With Respect to Any Non-Federal Tax, and Form 6166, Tax Liens, Levy and Seizure, when it sends you a notice of lien or levy. These notices can be obtained from the IRS.
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