Educational Tax Tip: IRS Collection Holds and Payment Agreements

Did you know that when you ask the IRS for relief, they may temporarily hold enforced collection actions during the review? Under IRS rules, the agency generally will not pursue new levies while a proposed installment agreement is pending, while an accepted installment agreement is in effect, or while you’re appealing a rejected proposal, which gives you breathing room to work toward a resolution. This pause also applies in many cases when an Offer in Compromise is under consideration, though interest and penalties may still accrue on your balance during this time.

Need help requesting a collection hold or negotiating a payment plan with the IRS? Visit our website and contact us today for expert guidance and support!  https://bratinitaxservices.com/