The IRS Collections activities are set to resume following a temporary halt during the initial stages of the COVID-19 pandemic. The IRS will not simply pick up where it left off but intends to inform taxpayers and their tax preparers about the reinstatement of collection actions that were previously initiated. For instance, individuals in line to receive a final Notice of Intent to Levy will likely be notified by the IRS regarding its planned course of action, granting them an opportunity to settle their dues. The Notice of Intent to Levy is the IRS’s final step before seizing assets. Moreover, the IRS has outlined a phased approach to recommence collection activities to manage its resources effectively. Consequently, if the IRS had previously informed you of outstanding debts before the COVID-related pause, there may still be some time to negotiate a resolution before new collection notices arrive.
Remember, Bruce is an enrolled agent and can help you with offers and compromises with the IRS. Contact him today if you need help.