1-800-548-4639If your tax balance is overdue, the IRS must send you multiple notices before they seize your assets to satisfy the debt you owe. The last warning you receive is called a Final Notice of Intent to Levy.
Unsure how to respond to IRS Notice CP90? The tax experts at BC Tax can help. Learn how you can protect your personal property from seizure.
What Is IRS Notice CP90 – Final Notice of Intent to Levy?
IRS Notice CP90 is your last warning from the IRS — pay your overdue taxes, or the federal government can levy your income or assets. A Final Notice of Intent to Levy means you’ve received multiple notices from the IRS, and if the debt goes unpaid for an additional 30 days, your wages or property may be in danger of seizure.
Once 30 days have passed after the date posted on Notice CP90, the IRS can levy or seize your:
- Wages
- Bank accounts
- Personal property, including your house or car
- Business assets
- Social Security income
A Final Notice of Intent to Levy also informs you that you are entitled to an appeal hearing to challenge the IRS’s intended collection actions.
Why Did You Receive IRS Notice CP90?
If you were sent Notice CP90, you undoubtedly have a stack of letters from the IRS — including an initial IRS Notice of Intent to Levy.
If you ignore messages from the IRS, you will eventually receive one final warning letter before serious collection action is taken — IRS Notice CP90.
What Are Your Options When You Receive an IRS Final Notice of Intent to Levy?
IRS Notice CP90 is a serious warning that should not be ignored. Read over the letter and billing information carefully, as the notice explains the actions the IRS intends to take and how you can respond.
While you may be nervous, if you take proactive steps and contact a professional tax resolution agency like BC Tax, we can guide you through your options and help you protect your paychecks and property. These steps may include the following actions.
1. Pay the Amount You Owe
The most straightforward option is to pay the total amount owed to the IRS. To verify the amount, check the notice and any other statements received from the IRS. Mail your payment along with the bottom portion of the statement to ensure your account is credited correctly. You can also pay by phone or online.
2. Request a Collection Due Process Hearing
If you disagree with the amount owed or wish to challenge the collection process, you have the right to appeal and present your case before an IRS appeals officer. During this formal hearing, you can discuss why you believe the collection action should not proceed.
Be sure to request a hearing during the 30-day time frame to protect your rights and hopefully reach a favorable outcome. BC Tax can help you plan your appeal and submit all relevant documents to increase your chance of successful results.
3. Establish a Payment Plan With the IRS
You can apply for an IRS payment plan if you cannot pay the full balance owed. This option avoids potential collection actions and may even reduce your interest rate. BC Tax can guide you in this process, helping you establish a payment plan that works with your financial situation.
4. Submit an Offer in Compromise
An Offer in Compromise is a settlement arrangement with the IRS, allowing you to pay a lesser amount than what’s owed. The IRS considers financial hardship and other factors when negotiating a debt reduction. The enrolled agents at BC Tax may be able to speak to the IRS on your behalf to attain an Offer in Compromise for you.
Consult BC Tax to Resolve Your Final Notice of Intent to Levy
If you receive a Final Notice of Intent to Levy, don’t wait. The licensed agents at BC Tax can carefully review your tax information and current financial means to help you make a plan within the 30-day action window the IRS provides.
Whether you intend to appeal or need assistance submitting an Offer in Compromise, schedule a free consultation with a professional tax agent today.
Authored by the BC Tax Insights Team, this article reflects the collective expertise and experience of our seasoned tax professionals. The Insights Team at BC Tax comprises specialists with a deep understanding of various tax scenarios and solutions. With a focus on providing informative, accurate, and practical insights, our goal is to guide readers through the complexities of taxation and financial planning. Every piece is crafted with the intent to help individuals and businesses navigate the ever-evolving world of taxes, ensuring clarity and confidence in decision-making.
