IRS CP504 (Intent to Levy) - What are my Options

[AtlanticTerbo]

Like a total idiot I have been procrastinating the filing of my taxes for various inexcusable reasons. The last year I filed was 2011. Due to a 1099-K filed in my name for 2014, the IRS has assessed me a huge tax bill because they do not have the offsetting expenses. They finally caught up to me and through notice CP504 demand that I pay the amount due or they intend to levy or seize my property, and I have 30 days to respond.

I know that this is not actually the final, formal action to levy, but I am unclear as to my options. They do give me the option to negotiate a payment plan, which doesn't help me much because I don't actually owe this huge amount of money.

My most pressing question - is it too late to file? Can I mail in my returns right now for 2012, 2013, and 2014, will they accept it, and if so what is the correct procedure?

I really hope the course of action is not to go to court, please help! Thank you in advance

[Carl]

First, and I can't stress this enough. *GET* *PROFESSIONAL* *HELP* and get it yesterday, if not sooner. Depending on the amount, you may be on the verge of losing even your house, thus making you and your family homeless. Now that professional help will not be free. But your only other choice is to start looking for good, water tight cardboard boxes to live in possibly.

Basically, you need to get those past year returns filed ASAP. However, you can't use TurboTax for this. TurboTax only supports their software for he current tax filing season and three years back. So even if you get the sofware for 2015 or older, you will not be able to get the *REQUIRED* updates and corrections to the software, meaning that if you use TTX 2015 or older to file a tax return with, that return *WILL* *BE* *WRONG* and TTX does not honor the 100% Accuracy Guarantee on software they no longer support.

[AtlanticTerbo]

"WILL*BE*WRONG" is a lot of hyperbole. The reality is that "some parts may not be up to date" and will "mostly likely be close to 100% correct". I have all my TurboTax installations dating back 10 years and they were updated around the time the filing was due so that's good enough for me.

And to my original post, the IRS is gave me an extra 30 days to send in the return so happy to say I am soon going to be fully compliant with my tax obligations