Music, hi and thanks for stopping by. I'm Larry Weinstein, a CPA and the founder of solvedmytaxproblems.com, based in Houston, Texas. In today's video, I wanted to answer the question: What must you be prepared to do at a Collection Due Process (CDP) Hearing? As we've discussed in other videos, a CDP Hearing effectively stalls IRS collection activity, preventing them from levying a bank account or garnishing your wages. However, once you're granted a CDP Hearing, you must present an acceptable alternative solution to the IRS. This could include options such as an installment agreement, an offer and compromise, or currently not collectible status. In rare cases, filing for bankruptcy could also be considered. When you have your CDP Hearing, you must be prepared to obtain one of these IRS-provided solutions. This means filling out all the correct paperwork and gathering all necessary documentation such as bank statements, pay stubs, health insurance records, and living expenses documentation. It's important to be fully prepared for the CDP Hearing because it's your opportunity to present a viable solution to your IRS tax problem. This is your one chance to negotiate a better outcome than facing levy on your bank account or wage garnishment. That wraps up today's video, where I answered the question: What am I required to do at a Collection Due Process Hearing? Thanks for stopping by, and hope to see you soon! Music.
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Collection due process handbook Form: What You Should Know
Forms and Guides for Collection Due Process Appeals — IRS Mar 2, 2024 — The IRS has updated its guidelines for collecting for collections from certain individuals. The guidelines will take effect beginning Aug 2010. Sep 6, 2024 — The IRS has created procedures for collecting tax when an individual has no active return. If an individual has no return, the IRS can collect the tax for them via the CDP if they are (CDP) Nov 17, 2024 — The IRS is providing guidance to assessors to ensure IRS Collection Due Process (CDP) is being handled appropriately. The guidance is intended as guidance only and not required. In Nov 16, 2024 — The IRS is updating the IRM to reflect revised collections due process requirements. For more information, go to the IRM Collection Due Process (CDP) FAQs Nov 18, 2024 — This update addresses additional revisions to the Collection Due Process handbook. In this update the IRS will require the taxpayer to provide his/her address if a collection is (CDP) or a payment due the account. This change affects a few accounts. For information on these accounts, go to FAQs on Collection Due Process (CDP). Sep 23, 2024 — The IRS has added Form 3949 (Payment Due Date and Collection Due Process) and Form 3949-R (Certification of Due Process to be Made by Individual) to the collection due process guide. (CDP) (IRM) Aug 31, 2024 — The IRS has updated its Internal Revenue Manual for the collection due process (CDP). The manual updates the collection due process guide with new information and information on collection due process. As a result of this manual update, the collector's due process notice becomes ineffective as of Sept 21, 2018. For a complete list of the changes, go to CDP FAQs. Dec 5, 2009, Oct 11, 2011, Nov 25, 2011, and Feb 24, 2024 — Information on Collection Due Process (CDP) is now updated on the IRS website. (CDP) (IRM) Dec 2, 2024 — The IRS has updated the IRS Collection Due Process (CDP) Frequently Asked Questions (FAQs) webpage providing tax collectors with updated information. The Frequently Asked Questions (FAQs) website updates with new questions on CDP and related IRS programs.
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