Hi Bill Brooks, EPA Boulder Colorado. I wanted to update you on the Fresh Start program regarding tax liens. The IRS has established a new threshold. It used to be five thousand dollars and they would file a tax lien. Now, it's ten thousand dollars. However, this change is not retroactive. They will not go back and release liens, and they may still file tax liens under ten thousand dollars depending on the circumstances. There are two ways to request a lien withdrawal, both of which use Form 12 277, the application for withdrawal. To be eligible for a lien withdrawal, you need to have satisfied your tax liability, and your lien would then be released and withdrawn. Additionally, you must be in compliance with tax filing requirements for the past three years, including all individual, business, and information returns. You also need to be current on your estimated tax payments and deposits. The other way to request a withdrawal is through a direct debit installment agreement. To apply for this, you can do it online if you already have an installment agreement in place. Individuals and businesses with income tax liability and out of business entities with any type of tax debt can qualify for this option. The amount owed for the direct debit installment agreement must be less than 25,000 dollars, and you must pay the full amount within 60 months or before the collection statute expires, whichever is earlier. You must also be in full compliance with other filing and payment requirements, make three consecutive direct debit payments, and you cannot have had a lien withdrawal for the same taxes before. Additionally, you should not have defaulted on a prior direct debit installment agreement. If you meet the requirements, you can proceed with the application online on the IRS website...
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668-w(c)(do) august 2023 Form: What You Should Know
If an employee's wages are not paid, the employer is required to give the employee, within 30 days, notice of the levy notice. If an employer does not give the notice within the specified period, or if the employer fails to file the appropriate Taxpayer ID and Federal Employer Identification number on IRS form SS-4EZ with the appropriate IRS district Office, IRS will levy the employer's entire payroll, including the wages, salaries, commissions, bonuses, or other income (Form 5471, 5472, and 5473) received during the calendar year for which the levy notice was issued. It is the taxpayer's responsibility to collect the employer's levy on a timely basis and file any appropriate form with IRS to claim the levy on income tax return. The maximum levy amount is 5,000.
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