IRS notice CP 523 informs you that the IRS intends to take enforced collection against you because you defaulted on your installment agreement with them. They have threatened to take your wages, bank accounts, and other property unless you respond. Because you defaulted, your case is more difficult but not impossible. You need to explore your options. The IRS will be scrutinizing you more closely. You can try to re-enter the installment agreement, but that may be difficult. Another option is filing an offering compromise, which may delay enforced collection but might not eliminate the debt entirely. Sometimes, penalties can be abated, and bankruptcy is also a possible solution. However, each of these solutions has positive and negative implications for you personally. To find the best way forward, it is crucial to devise a plan based on your specific circumstances. This plan should accentuate the positives and diminish the negatives of your case. Therefore, we ask our clients to follow the collection prep steps on the taxhelplaw.com website. This will enable us to look at the necessary documents and review the tactics and options you have to deal with the IRS at the least cost.
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Video instructions and help with filling out and completing Which Irs Form 13844 Default
