Understanding the IRS Substitute for Return
Click to ask Mike Ask Mike The Internal Revenue Service (IRS) Substitute for Return (SFR) is a term many taxpayers
FORM 8519
Form 8519, titled “Taxpayer’s Copy of Notice of Levy,” is a legal document issued by the Internal Revenue Service (IRS) to seize property or assets to satisfy an unpaid tax debt. The levy is typically served on a third party, such as a bank, employer, or state agency. The third party is then required to turn over any funds or property belonging to the taxpayer to the IRS.
Reasons why it happened:- Unpaid taxes
- Failure to file a tax return
- Filing a fraudulent tax return
- Failure to respond to IRS notices and demands for payment
- Failure to pay estimated taxes
- Failure to pay employment taxes
- Failure to pay excise taxes
Options for responding:
- Contact the IRS immediately to discuss your options.
- Provide the IRS with any information that may help them understand your financial situation.
- Request a Collection Information Statement (CIS) from the IRS. The CIS will provide you with a detailed breakdown of your tax debt.
- Consider filing an Offer in Compromise (OIC) with the IRS. An OIC is an agreement between you and the IRS to settle your tax debt for less than the full amount owed.
- Seek professional help from a tax attorney or accountant.
Additional information
- The IRS is required to provide you with written notice of their intent to levy your property at least 30 days before the levy is issued.
- You have the right to appeal a levy.
- The IRS may release a levy if you can demonstrate that you are unable to pay your tax debt or if you are making arrangements to pay your tax debt.
Important Tip: Not sure where to begin? Try our Tax Relief Finder tool. It helps you find IRS programs and gives recommendations for the best solution. Learn about our - Tax Relief Program Finder
Important Tip: Understanding the Tax-Relief process is an essential resource for individuals dealing with tax debt. It offers a road map guide, simplifying the steps needed to resolve tax-related issues- Tax-Relief Process
Ask Mike
You can now ask our AI assistant any questions you have about your tax debt or any tax-related issues. Whether you’re unsure about payment plans, need clarification on penalties, or want information on how to resolve your tax situation. Our AI is ready to assist you with all your tax-related concerns.
Related Posts
Substitute for Return ( SFR )
Click to ask Mike Ask Mike The Internal Revenue Service (IRS) Substitute for Return (SFR) is a term many taxpayers
Has my tax debt statute of limitations expired?
Click to ask Mike Ask Mike The Internal Revenue Service typically operates within a 10-year window, commencing from the
The Three Types of IRS Statute of Limitations
Click to ask Mike Ask Mike The Internal Revenue Service (IRS) operates within specific timeframes dictated by statutes of limitations
When can the 10-Year Tax Debt Collection Statute Extended
Click to ask Mike Ask Mike understanding the ins and outs of the 10-year statute of limitations (SOL) is essential.
Recent Posts
Understanding the IRS Substitute for Return
Click to ask Mike Ask Mike The Internal Revenue Service (IRS) Substitute for Return (SFR) is a term many taxpayers
Substitute for Return ( SFR )
Click to ask Mike Ask Mike The Internal Revenue Service (IRS) Substitute for Return (SFR) is a term many taxpayers
Has my tax debt statute of limitations expired?
Click to ask Mike Ask Mike The Internal Revenue Service typically operates within a 10-year window, commencing from the
The Three Types of IRS Statute of Limitations
Click to ask Mike Ask Mike The Internal Revenue Service (IRS) operates within specific timeframes dictated by statutes of limitations
When can the 10-Year Tax Debt Collection Statute Extended
Click to ask Mike Ask Mike understanding the ins and outs of the 10-year statute of limitations (SOL) is essential.
Disclaimer: This is educational content, not legal, accounting, or tax advice.
