The IRS will send out a variety of letters to people or businesses to try to get them to resolve their past due taxes.
Have you received Letter CP 504 – “Urgent! We intend to Levy on Certain Assets”?
This letter is one of the final warnings that the IRS issues before proceeding with enforcement action. Time is running out. You will receive one more letter (the 1058 Letter, described below) before the IRS starts aggressive collection action. If you aren’t sure how to resolve your past due taxes, consider getting a tax professional from Phoenix Financial Group to handle it for you.
Have you received Letter 1058 – Final Notice of Intent to Levy?
This letter is the IRS’ last letter before they proceed with enforcement action. Enforcement action includes bank levies, accounts receivable levies, wage garnishments, social security garnishments and ultimately seizure of assets. You have rights as a taxpayer. You don’t have to fall victim to these types of actions. If you aren’t sure what to do, consider getting professional representation. There are ways to protect your bank account, wages and assets but you have to act quickly. Some of your rights expire.
Letter 1153 – Trust Fund Assessment
If you have received this letter, then the IRS is looking to hold you personally responsible for either a 941 Employer’s Quarterly Withholding Tax Debt or a 720 Excise Tax Debt. This letter states the IRS’ intention to pierce the corporate veil and start coming after you personally for your company’s tax debt. You have options and rights. Let PFG show you how best to deal with this adverse action.