Starting in January of 2018, if you have seriously delinquent tax debt, IRC 7345 authorizes the IRS to certify your debt to the State Department for action. What does this mean for you?
If you have tax debt that still needs to be paid and you want to avoid a tax lien and bank levy, don’t panic- you have options.
Businesses using the cash method of accounting can defer income into 2018 by delaying end-of-year invoices, so payment is not received until 2018. Businesses using the accrual method can defer income by postponing delivery of goods or services until January 2018.
Maximize your retirement plan contributions. If you own an incorporated or unincorporated business, consider setting up a retirement plan if you don't already have one. It doesn't may not need to be funded until you pay your taxes, but allowable contributions will be deductible on this year's return.
Don’t ignore notices you receive in the mail! If a taxpayer receives a notice from the IRS, make sure to respond before the deadline. Keep a copy and proof of mailing, preferably a certified mail receipt to verify mailing and IRS receipt. Taxpayers should explain themselves thoroughly, and attach documents where they will be helpful.