Richardson TX - An Overview of the IRS Collection Process
By Bob Jablonsky, We're Tax Specialists for Real Estate Agents
(Bob Jablonsky & Associates)
When taxpayer’s come into my office in Richardson, TX related to IRS tax collection problems, the entire process often seems like a maze to them and they don’t know where to start. The first step for me is to just understand where they are in the process. Once I know where the client is in the collection process, it helps me to understand risks and opportunities and formulate a plan to move forward. Today, I want to spend some time walking through an overview of the process. What is the IRS Collection Process: Assessment of the Tax – Preferably, a taxpayer files their return voluntarily. If the don’t the IRS will create a substitute return on their behalf to file the return and assess the tax. 10 Year Collection Statute – Once the tax is assessed, it begins the ticking of the 10 year cl...
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