COVID 19 IRS UPDATE!

The IRS has just issued an update regarding installment agreements, offers in compromise, liens and levies and other IRS business during the COVID 19 outbreak.

Installment Agreements: The IRS will suspend your payments between April 1, 2020 and July 15, 2020 for any existing installment agreements. You will not have to pay your IRS bill during this time, but the interest will continue to accrue. The IRS will not default any installment agreements during this period.

Offers in Compromise: You will have until July 15, 2020 to provide the offer examiner with the requested information and to catch up with filing 2018 and 2019 return if unfiled prior to filing the offer. Offer payments are also suspended until July 15, 2020.

Revenue Officer Cases: Liens and levies initiated by revenue officers will be suspended until July 15, 2020.

Computer Generated Liens/Levies: Suspended until July 15, 2020

Audits: New in person audits to be suspended, but correspondence audits may continue. If you are already in an audit, you still must comply with any deadlines the examiner has set forth unless you agree with them to extend the deadline.

Earned Income Credit Reviews: If you have received a letter from the IRS regarding the verification of your EIC, you have until July 15, 2020 to respond.

Appeals: Appeals will continue working, but no in person meetings.

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