There are NO EXCEPTIONS!
Important Information about CP 91:. They might be able to set up a partial payment plan (where you only pay what you can afford every month) or get the IRS to declare the debt uncollectable. Having a tax representative to get all the documents, forms, and finances in order, in a way that the IRS will accept, can really increase your odds of a good settlement.
What can I do when I receive CP 91?
On a scale of 1 to 10, this is a 10! You will not be receiving any more notices and the IRS will be taking your social security benefits. Bottom line is, you have to do something because your benefits are at serious risk.
Disclaimer: The above should not be taken as tax advice, but as some common sense responses to an IRS notice.
By: Lee French
Article Directory: http://www.articledashboard.com
Houston based Tax Masters has served tens of thousands of clients and had incredible success with assisting taxpayers with regaining IRS compliance. What is a CP 91?
Similar to a CP 90, A CP 91 is a final notice before the IRS puts a levy on your social security benefits. You have a decent shot at a good settlement because you are past your earning years. The IRS will not deal with a tax payer in any way before they have filed ALL delinquent tax returns. If your monthly benefit is more than $750, the IRS can garnish 15% of your monthly benefits for taxes that are at least six months overdue.
How serious is a CP 91?
Whatever you do, DO NOT ignore the CP 91 tax notice! That will only ensure that your benefits are taken and you will be put in bad standing with the IRS. In other words, you need to deal with this IMMEDIATELY (it may already be too late). Basically, the IRS is letting you know that they will be taking money out of your social security benefits to pay off the taxes you owe. In other words, before you can stop a levy, you must have filed all old returns. Plus, you have to show where you got the money to pay for this process and how much you plan to pay and when (An Offer in Compromise- form 656). You need to act quickly if you want to try and stop it.
If you dont qualify for An Offer in Compromise there are still some things a tax resolution firm can do to help you. When settling your taxes, however, you must show hardship (form 433-A) and must be able to come up with the money to apply ($150) and 20% of the amount that you propose to settle the debt for. TaxMasters solves your tax problems.
The IRS may start the process of levying your Social Security benefits before your 30 days is up, because they know the system is typically slow. Because this notice is so serious, your best bet is to contact a reputable tax resolution firm, an enrolled agent, CPA, or tax attorney familiar with tax debt cases
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