USA IRS Notice of Intent to Levy & Offer In Compromise tips?

Joined
Dec 5, 2022
Messages
2
Reaction score
0
Country
United States
A US based C corporation has a received a IRS Notice of Intent to Levy, I have never dealt with this before looking for some advice if anyone has dealt with this.
Is there a simple way to delay ? I am guessing no.
Also what does filing an 'offer in compromise' Form 656 do? Will that delay the collections while the offer is considered? It appears they almost qualify but are missing a few returns.
I plan to file the missing returns and the offer just looking for some seasoned accountant experience.
Thanks in advance.
 

BIG E

VIP Member
Joined
Dec 19, 2020
Messages
294
Reaction score
41
Country
United States
Here's a link for Offer in Compromise
.

The Notice of Intent to Levy means that the debt has been outstanding for a while and the C Corp has not made a concerted effort to make payment on the debt or work out a payment agreement. In order to get IRS to agree to an offer-in-compromise you must not be in arrears with other Federal tax debts.
 
Joined
Dec 5, 2022
Messages
2
Reaction score
0
Country
United States
Here's a link for Offer in Compromise
.

The Notice of Intent to Levy means that the debt has been outstanding for a while and the C Corp has not made a concerted effort to make payment on the debt or work out a payment agreement. In order to get IRS to agree to an offer-in-compromise you must not be in arrears with other Federal tax debts.
Thanks i was checking that out.
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top