CP504 Letter from IRS

[jetsfan2010]

I am in the final stages of getting everything reorganized to refile as a 7, and yesterday I get 3 nice registered letters from the IRS. These letters basically stated if I didnt contact them within 10 days of the date of letter, they intended to seize property or rights to property etc. I told my attorney and he said that I should call them and try to make payment arrangements.

Is that wise to get in place BEFORE the 7 is filed? With some of the tax debt to be unsecured non-priority and dischargable, my thoughts are they would try to set an arrangement on the full amount, not what I truly owe.

[biotechsolution]

Have they filed a tax lien yet? Remember if they have the lien survives the Chapter 7 and they can sieze any property you have after the discharge. This includes any 401k plan. There is basically no exemptions that apply to tax debts.

[justbroke]

Yes, it is absolutely wise to work with the IRS and establish a payment arrangement! You do NOT want to have federal tax liens!

[jetsfan2010]

thanks for the feedback. I called them earlier today but the hold was over 30 minutes. will try again later