What happens when a tax preparer gets your return badly wrong—and the IRS is already trying to collect?

In this video, I break down a taxpayer’s situation involving a botched 2021 tax return, cryptocurrency gains and losses that may have been reported incorrectly, roughly $60,000 owed to the IRS, and an active IRS levy.

The taxpayer believes correcting the return could reduce the balance by around $40,000, potentially bringing the IRS debt down into the high teens. The problem? The IRS is collecting based on the return currently on file, and amended returns can take a long time to process.

I explain why it may make sense to attack the problem from both directions at once:

• File the amended tax return as quickly as possible
  
  
• Deal with the active IRS levy immediately
  
  
• Consider an installment agreement while the amendment is processing
  
  
• Understand how the payment plan may be adjusted once the IRS corrects the balance
  
  
• Be prepared for the possibility of a Notice of Federal Tax Lien
  
  
• Understand when a federal tax lien withdrawal may eventually be possible
  
  

I also discuss the important distinction between an actual bank or wage levy and simply receiving a Notice of Intent to Levy.

If you owe the IRS or your state at least $10,000 in back taxes, or you have multiple years of unfiled tax returns, you may qualify for a free consultation with Choice Tax Relief.

📞 Call 866-800-0829

🌐 Book a free consultation: https://choicetaxrelief.com/free-tax-...

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