Act on Tax Notices Right Away

Tax Lien Auctions

When the Internal Revenue Service or IRS sends you a notice on tax delinquency, whether on income or property, the first thing to do is to never ignore it. A notice sent by the IRS provide additional time and opportunity for you to respond, and save yourself from bankruptcy or losing property to tax lien auctions. The next thing to do is seek help from a licensed tax professional who knows how to handle and give advice to your dilemma. Tax professionals have the knowledge, deep understanding, and proficiency on how to apply the rules that govern different compliance issues, as well as tax debt scenarios to deal with.

You also need to review the tax returns from which your liability was obtained. Even the slightest mistakes such as declaring income or deductions twice can increase your tax liability. However, this can be fixed by filing an amendment. It is best to consult these things with your tax professional.

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