If you cannot afford to pay your tax bill in full immediately, you must still take action to avoid asset seizure. The IRS provides several relief options:
Topic no. 201, The collection process | Internal Revenue Service tax-topic-201
It outlines the sequential steps the government takes to secure payment. If you cannot afford to pay your tax
The IRS collection process is sequential and strictly regulated by federal law. 1. The Initial Bill plus any accumulated penalties and interest.
Tax Topic 201 is the official IRS designation for Topic No. 201: The Collection Process.
: This letter breaks down the exact amount of tax you owe, plus any accumulated penalties and interest.