Lavelle Law: IRS resumes sending 500 Series collection letters

The IRS Collection Group recently announced that it will resume sending out 500 series collection letters in late October or early November. In May, the agency had to pause efforts to issue the 500 series balance due notices to taxpayers because of a backlog of mail at the IRS due to COVID-19. However, the agency has caught up on the backlog and will begin sending updated 500 Series notices with current issuance and payment dates in the coming weeks.

The 500 Series notices are collection letters the IRS sends as it accelerates its efforts to collect. Failure to reply could result in the IRS filing a Notice of Federal Tax Lien against the taxpayer or the IRS seizing a taxpayer's property including wages or a bank account.

"Taxation issues are rather complex, so it's essential to use an experienced attorney rather than a tax relief company with an 800 number," said Managing Partner Ted McGinn. "Our Taxation practice has many years' experience dealing with the IRS and can help protect your property."

Lavelle Law Shareholder Timothy Hughes recommends quick action if a letter from the IRS arrives. "Notices like a 500 Series letter should not be ignored," said Hughes. "Prompt action is required. This is an important warning from the IRS about stepping up enforcement and action so those with delinquent tax debt should not take the matter lightly."

To learn more or contact the attorneys at Lavelle Law, visit www.lavellelaw.com.

Lavelle Law's main office is in Schaumburg and maintains an additional office in the Chicago Loop. The firm was founded in 1989 as a single attorney practice with an emphasis on tax law. The firm has added more than a dozen practice groups including Estate Planning, Business Law, Banking Law, Litigation, Criminal, Immigration, Divorce and Family Law, Commercial and Residential Real Estate and Law Practice Consulting. The firm has received numerous awards and commendations for their business success, their commitment to ethics, national recognition for their pro bono services, and multiple acknowledgements of the charitable work they do in the local communities. For more information, visit www.lavellelaw.com or follow Lavelle Law on Twitter, Facebook and LinkedIn.