IRS Levies | Bank Levy and IRS Garnishment | Flat Fee Tax Service
Updated: Nov 17, 2019
Stop a wage garnishment or bank levy (in one day). IRS Levies - Wage Garnishment - Bank Levy
The IRS (federal government) has broad powers to seize and confiscate assets in order to satisfy unpaid tax debt. The IRS may issue a tax levy against an individual's wages, salary, and other income, including fees, bonuses, and commissions. This type of tax levy is generally called a wage garnishment. The IRS may also attempt to enforce an unpaid tax liability by issuing a tax levy against your bank account(s).
However, there are certain limitations on these powers to seize property. In the case of the taxpayer's personal residence, the IRS may not seize real property without written approval of a federal district court judge or magistrate.The IRS rarely will force a home sale unless there were serious crimes committed.
Tangible personal property or real property used in the taxpayer's trade or business may not be seized without written approval of an IRS district or assistant director. There is some property that is exempt from a tax levy, including the following:
a. wearing apparel and school books
b. fuel, provisions, furniture, and personal effects, up to a certain amount
c. unemployment benefits
d. books and tools of a trade, business, or profession, up to a certain amount
e. undelivered mail
f. certain annuity and pension payments
g. workers' compensation
h. judgments for support of minor children