A chain of actions are set into motion when IRS’s computer realizes that you filed taxes, but didn’t send in the money! The first thing it does, is create a file and put you in the COLLECTIONS database. This means that it will be sending you written communications (like love letters) until a “human” tells [...]
As you become self employed you incur with it certain tax burden and it is a daunting task for you to calculate the self employment tax. But with little effort you can easily overcome that. Calculating the self employment tax, the first time for quarterly payment is always somewhat difficult and may take a bit [...]
A bank levy is when your bank account is frozen and all or part of the monies in your bank account is seized. Bank levy’s can happen for many reasons, however the two most common are due to unpaid taxes and unpaid debt.A bank levy just doesn’t happen immediately; usually it is the result of [...]
