Dealing with taxes can be a pain. But as adults, it is an inevitable task that we must complete every year. Usually the process is harmless, but what about when that thing called “life” happens, and you find yourself drowning in tax litigation that you have never heard of? That one year that you forgot to pay your taxes has now turned into receiving a CP90: Final Notice of Intent to Levy, and there’s a strong possibility you may lose your car. The most important thing to do in this situation is to stay informed of the facts and know you have several options that will help you when you have been served with a Final Notice of Intent to Levy.
But first, what is a CP90: Final Notice of Intent to Levy and how did we get here? According to Forbes, “an IRS levy permits the legal seizure of your property to satisfy a tax debt. It can garnish wages, take money in your bank or other financial account, seizure and sell your vehicle(s), real estate and other personal property.” This letter is a final warning letter and a last resort used to get in contact with you for unpaid taxes. If you are receiving this notice, consider yourself to be in a grave situation.
If you are receiving a CP90: Final Notice of Intent to Levy, this essentially means that:
- You have an outstanding tax balance that was not paid by the due date.
- The IRS has tried to get in contact multiple times for payment but never received one.
- The CP90: Final Notice of Intent to Levy is formal notice that you have a right to a hearing and your 30 day final notice of intent to levy all forms of property.
In the event that you are not able to pay your taxes, the worst action you can take is to take no action at all. In fact, letting your tax problems fester severely limits your options to resolve your tax issues. Your first option, if you are financially sound, is to choose to pay the tax obligation or set up a payment plan. You also have the option to dispute the amount you owe or penalties added. Or you can also request your right to a formal hearing. Exercising these options may take time, and what began as a simple mistake can quickly spiral into an endless nightmare. We hope you never find yourself in this situation, but if you do, Civic Tax Relief is a dependable asset to have on your side, taking the stress and frustration out of dealing with the IRS. Civic Tax Relief is the smartest and most direct route to avoid or resolve being a tax liability. Let us work on your behalf to restore your peace of mind. Contact us today!