The IRS CP90 letter is also known as the Final Notice of Intent to Levy. If you did not do anything to start resolving your tax balance, now is the time. Watch the video below or read on for the written version.
A CP90 letter indicates liens, garnishments and levies are possibly coming
30 days after this letter is issued, the IRS can start sending our liens, garnishments, and levies. For those earning a wage, if you already have received a W2 from the company you work for, good chance you will get a wage garnishment.
If you have the same bank accounts and got 1099 for any of those bank accounts, good chance you will get a bank levy. For self-employed people, the IRS can levy 1099 sources and take all your income. Things like credit card processors will be contacted and instead of sending the money to you, it goes right to the IRS.
So here’s how you can resolve it
You can hire someone to take over and do it for you or you need to submit some kind of proposal to resolve the debt. The most common being a payment plan, paying it off in full or an Offer in Compromise.
You can also call the IRS and ask for more time. They might give it to you if you are unsure of a resolution and need to go over more information or if you say you are in the process of hiring representation.
If you are doing your own case check out our free tax help guide.
If you are looking for a consultation with an expert tax attorney click here to access our calendar, or call us at (888) 515-4289.