Do You Owe The IRS?
- LaTaishia
- Jan 2, 2022
- 1 min read
Individuals, businesses, states, and other entities may owe money to the federal government. That's a debt.
If they don't pay the debt on time, it becomes overdue (delinquent). When the debt is overdue, the Treasury Offset Program (TOP) helps collect the debt by holding back money from a federal payment to the debtor. (Holding back money from a payment is call "offsetting the payment" or "administrative offset.") For example, if you have a delinquent debt for a federal loan, TOP can reduce your federal tax refund or social security benefit payment to pay that debt.
To verify if your tax return will be offset, call the TOP automated voice response system
1-800-304-3107.
We’re here for any questions you have regarding offsets.
Phone: 317-721-3149 Visit us online at www.iindchancesllc.com
Facebook: www.facebook.com/iindchances
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