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Notice and Demand LifeBack Tax
When an individual or business owes past due taxes to the Internal Revenue Service, the IRS first assesses the taxpayer's unpaid balance and penalties, then bills the taxpayer for their outstanding debt. This billing notice, officially designated CP14 or CP161, is commonly known as a Notice and Demand for Payment. Assessment, notice, and demand for payment are the first steps in the IRS collection process, and grant the IRS a statutory time limit of 10 years to collect the taxpayer's debt, starting from the date of assessment. The IRS generally notifies taxpayers by mail within 60 days of assessing their liability.
Once a taxpayer receives a Notice and Demand for Payment, they must pay their balance in full within the deadline indicated in the notice. This includes any failure-to-file or failure-to-pay penalties and interest, based on the time between the payment deadline and the date of notice. While federal tax returns are usually processed within 21 days of filing, the IRS may audit tax returns up to three years after they were filed. Note that if a tax return is never filed, the IRS has up to six years to assess tax liabilities and penalties.
Typically, a Notice and Demand provides a taxpayer 21 days to pay their taxes. Accumulation of interest and penalties is temporarily paused during this period. However, if their tax debt is significantly high, the taxpayer may only have 10 days to pay the IRS instead. If a taxpayer is unable to pay their balance in full, they may arrange for alternate payment solutions with the IRS, such as entering an installation agreement or applying for an offer in compromise.
While a Notice and Demand does not immediately put a taxpayer's livelihood at risk, it may have far-reaching consequences if left unaddressed. If the taxpayer does not pay their balance in full by the allotted deadline (21 or 10 days after receiving the Notice and Demand), then interest and penalties resume accumulating. A statutory, "secret" lien is automatically placed on all of the taxpayer's property and assets, allowing the IRS to take further collection actions as necessary. Such actions may involve filing a public Notice of Federal Tax Lien (NFTL), garnishing wages, levying bank accounts, or seizing property through an administrative levy. The statutory lien should not be confused with the public NFTL, as it automatically arises after the Notice and Demand's deadline, does not require public notice to take effect, and is backdated to have started on the date of assessment. The IRS continues to send collection notices with increasingly dire threats, eventually culminating in a Final Notice of Intent to Levy, until the taxpayer's liability is satisfied.
If you have received a Notice and Demand for Payment from the IRS, we advise taking steps to prevent your unpaid balance from escalating. If you are unable to pay your back taxes within the given deadline, we at LifeBack Tax can assist you in contacting the IRS to make alternate payment arrangements. We are committed to defending taxpayers and their livelihoods from the government, and will advocate on your behalf to find the right solution for you.
Fast and Easy 4 Step Tax Relief
Tax Investigation determin your tax liability
Retrieve all documentation from the IRS
Calaculate tax liability and current ability to pay
IRS Tax Resolution - Get your Life Back
The fast path to tax resolution can be yours and you can get back to your life. We have a 4 step process that's easy for you. Don't worry about the State or IRS we take care of everything for you. We collect your data, contact the tax agency for you. We handle all negotiations to the tax debt entity so you don't have too. Within 24 hours we stop the wage garnishment or levies so you can focus back on your life.
Get your life back today, move on, go out have some fun let us handle all your worries with your tax debt. Our trained professionals will get that tax settlement for you and you'll be happier for it. At LifeBack Tax our job is your complete satisfaction.
Start Now Settle Now
Why put off what you can do today. Some customers have been putting their tax debt off for years. There is no reason, you have rights. We understand that a bank levy, or wage garnishment can have a severe impact on your life. It can be quite devastating trying to pay all your bills and feed your family while you are being levied or garnished. LifeBack Tax stops all that within 24 hours. Get the IRS off your back today, you have rights and we will represent them and make this as fast and painless as possible for you.
What are you waiting for this is your one opportunity to act now and take your life back. Let the experts at LifeBack work for you and settle this for you once and for all.
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