Does My Spouse Have To Be Listed On The Financial Form We Turn Into The IRS?

Yes, for certain purposes but not all purposes. A non-liable spouse’s income is taken into consideration when determining allowable expenses.

If My Account Is Placed Under Currently Not Collectible Status, Will Penalties And Interest Continue To Be Assessed?

Yes. Penalties and interest continue to accrue. The statute of limitations, which is the amount of time the IRS is legally allowed to collect, will continue to run.

When I Make A Payment, Where Do My Payments Get Applied? Am I Able To Designate Payments?

You are able to designate where your payments go. However, if no designation is made, the IRS will apply the payments in a way most advantageous to the IRS.

Is The IRS Able To Levy My SSA (Social Security) income?

Yes. The IRS has the broadest levy ability of any creditor. There is virtually no income or asset safe from IRS collections.

Is The IRS Able To Levy My Bank Accounts?

Yes. The IRS has the broadest levy ability of any creditor. There is virtually no income or asset safe from IRS collections.

Is The IRS Able To Levy A Pension/IRA/Or Retirement Account?

Yes. The IRS has the broadest levy ability of any creditor. There is virtually no income or asset safe from IRS collections.

If I Obtain A Settlement With The IRS, Do I Have To Pay The Entire Amount Upfront Or In Payments?

Typically, the settlement involves an agreement to pay in monthly installments. The length of time depends on various factors, including the amount of tax owed. Lump-sum payments are possible when advantageous to our clients.

For more information on Listing Your Spouse On IRS Financial Form, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (937) 247-6447 today.