Reminder: The IRS will soon be resuming certain collection and enforcement processes that had been suspended because of the COVID-19 pandemic. Some of these processes will start up again on July 15. For example, the IRS will begin to levy certain assets through various programs with other government agencies on that date. That means the IRS can collect a taxpayer’s overdue taxes through a levy on certain federal payments, state tax refunds or city/municipal tax refunds. The revoking of passports for “seriously delinquent tax debt” will also resume on July 15. Individuals with seriously delinquent tax debt are generally defined as owing more than $54,000 in back taxes, penalties and interest. Call or visit our website for more information! www.mjscpa.com/
