What does an “Intent to Offest Federal Payments” letter?

what does liquidating mean

My wife and I received. Show More

Satisfied Customers: 25569

Experience: Taxes, Immigration, Labor Relations

replied 3 years ago.

Welcome to JustAnswer!

The Department of Treasury's Financial Management Service (FMS), which issues IRS tax refunds has been authorized by Congress to conduct the Treasury Offset Program.

The Treasury Offset Program is a centralized offset program administered by the U.S. Treasury Financial Management Service's Debt Management Service, to collect delinquent debts owed to Federal and State government agencies.

The notice should reflect the original refund amount, your offset amount, the agency receiving the payment, and the address and telephone number of the agency. FMS will notify the IRS of the amount taken from your refund.

You should contact the agency shown on the notice if you believe you do not owe debt or you are disputing the amount taken

from your refund - in your case - California Franchise Tax Board.

If you owe taxes to California - all your federal payments will be offset. If you have an installment plan in place and you are current with the play - you need to contact California FTB to remove the offset demand. Most likely the demand was issued before the installment plan was signed.

Let me know if you need any help.

Customer reply replied 3 years ago.

Thank you. We are current on the installment plan that we have with California - is automatically deducted with an EFT from our checking account.

I will contact the California FTB and request they remove the offset demand. But, should I also contact the Taxpayer Advocate Service of the IRS and inform them of what appears to be an aggressive action?

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Category: Bank

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