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Do you owe the IRS, or your state back taxes? If so, you need tax resolution services. Howard Tax Prep LLC Chicago tax resolution services can help you settle tax debt, negotiate monthly payments, or apply for a tax debt hardship. If you have received an IRS notice CP2000, IRS notice CP504 intent to levy letter, or a notice before collection action letter, please contact us IMMEDIATELY.
The Federal Government has the authority to seize your personal property & bank accounts, garnish your wages, and place liens on your assets. While owing the Federal government is scary, sometimes owing the state can be even scarier. If you owe Illinois tax debt, per the Illinois department of revenue the tax debt collection process is as follows.

Revoke, suspend, or hold your business certificate or professional license. This includes nursing license, insurance license, securities license, CDL, real estate license, etc.

File a lien (fancy word for place a hold on to stop you from selling) on your property that can be ENFORCED FOR 20 YEARS. A lien filing will have a negative impact on your credit rating. Also, if the state files a lien on your real estate or personal property, in most cases you cannot sell or transfer your property.

Seize (fancy word for take) your real estate and personal property. Personal property includes automobiles and business assets.

Levy (aka garnish/take) your wages, salaries, bonuses, & commissions. Your employer must deduct up to 15 percent of the gross amount to pay your past due tax.

Levy (also known as garnish/take) your bank accounts, requiring the bank to hold for 20 days all monies in your account up to the total past due tax, penalty, and interest. After 20 days, the bank will forward the money to the department of revenue.

Hold you personally responsible for business taxes. The IDOR has the authority to assess the tax, penalty, and interest owed by a business against its officers or others responsible for filing and paying sales and withholding taxes.

Other actions

  • Corporations who owe past-due taxes may not have their corporate charters renewed.
  • Lottery licenses can be revoked or not renewed for nonpayment of taxes.
  • The Comptroller’s Office may offset any money that the Illinois state government owes you and apply that amount to your delinquent tax liability.
  • They may ask the Internal Revenue Service to pay your federal income tax refund to the state of Illinois.
  • Your name may appear on our delinquent taxpayer list that is published on our web site.
  • They may ask the Secretary of State to not renew your dealer’s license.
  • They may apply your (or your spouse’s) credit or refund to another tax liability.
  • A collector may visit you at your home or business.
  • Liquor license revocation or non-renewal.
  • Revoke your sales tax business certificate.
  • Refer your account to a collection agency.
Howard Tax Prep LLC will help you get into tax compliance, and we will file personal and business back tax returns, & back business tax returns. If you have received an IRS Notice CP504 intent to levy, intent to garnish, CP2000, CP75, CP05, or any other form, contact us IMMEDIATELY; the longer you wait, the worse the situation becomes.

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