Giving The Irs Your Financial Information: Make Sure Youre Prepared
We’d like to ask you some questions… Once the IRS has determined that you owe a tax debt they’re going to get in touch with you to get certain financial information about you. While you will eventually have to tell the IRS your financial information, you don’t have to give them the keys to your house as soon as they call you.
Be on your guard… I don’t think it needs to be said, but a friendly reminder is to not give anybody financial information about yourself over the phone, even if they say they’re with the IRS. You can schedule a meeting with a revenue officer at your local IRS branch if you would feel more comfortable making sure that you’re talking to a legitimate IRS representative.
There are snakes in the grass… Scam artists are much better at using new technology than the IRS. Any e-mail you might get from the IRS is a scam, especially if they ask for any credit card or social security number. The IRS does not communicate via e-mail with tax debtors.
Give them what you want… When you do finally deal with the IRS give yourself the time you need to go over all your finances, accounts, possessions and anything else of value you may have. You can then setup a meeting with an IRS revenue officer and not feel any pressure about your financial information, but you will also have better ground to stand on.
As with anything involving the IRS and a tax debt your best weapons are preparation and proof.
Negotiation… Any kind of arrangement you make with the IRS to pay off your debt has to undergo a full financial disclosure. That includes Offers in Compromise, Installment Agreements, Currently not Collectable, etc… The disclosure includes everything about you financially, no matter how small or unimportant.
Don’t play around… The IRS wants to know about your income, any investments or accounts you have, your assets and any equity they have, and the value of your property. The IRS can use that information to determine what programs you’re eligible for to pay off your IRS tax debt. The IRS also uses that information to determine how much an installment agreement will be, or how much they’re going to garnish from your wages if it comes to that.
Be careful when you deal with the IRS. You can not outsmart them, or hide anything from them so don’t try. Just be prepared and have your proof and you can at least face that IRS revenue officer on somewhat equal ground.
Now you have the smoking gun…Use it!
Richard Close was an IRS-Hitman. He worked as a revenue officer for the IRS and his father was the head of the collections branch for 30 years; so it runs in the family. He left that behind and now he’s partnered with Tax Defense Network to help thousands of Americans with their tax problems. He gives the tips and tricks for you to fight the IRS and win! Visit him at: http://irs-hitman.blogspot.com or http://www.taxdefensenetwork.com or contact: email irs-hitman@taxdefensenetwork.com or 1-888-248-9058.
Tags: financial disclosure, financial information, revenue officer, tax audit, tax debt, irs debt
