Will the IRS Seize or Levy while an Offer in Compromise is pending?
An Offer in Compromise imposes by law, a Stay on collections
The answer is NO! Much like a Bankruptcy, the IRS is prevented from taking any collection actions, which would include bank levies, garnishments, and seizures.
Remember even pet snakes can bite.
If you are doing this yourself, even though the IRS Agent may seem really nice, remember they still have a job to do. By nature, all IRS agents are collectors. If you tell them something of a criminal nature, such as you have unreported income, they are obligated to make a referral. That may get you a visit from the agents that wear a golden IRS badge and a gun. These are not people you never want to see! The IRS Collection Division has a 95% conviction rate for cases they chose to pursue. If your case goes completely cold and the Offer Specialist will not return your call after a conversion like this, you may be in for a very rude awakening. Additionally, an IRS Agent does not need a warrant to do so; unlike law enforcement officers.
Have some concerns?
If you feel you in over your head or are just not sure if your qualify for an Offer in Compromise, let’s have a short conversation. To avoid the back and forth emails and phone tag, I have set up a link to my Calendar https://calendly.com/taxman/tax-problem-resolution-initial-consultation. Let’s set up a 30 min. phone conference to get to know each other. The phone number to call is 855-829-5877 and my extension is 203.