IRS Tax Levy | IRS Garnishment | San Diego | California
Updated: Jul 19, 2019
The Basics of an IRS Tax Levy - IRS Garnishment A tax levy or IRS garnishment is simply the legal term for a seizure of property. Perhaps more accurately, it is the process through which your property can be seized. People often confuse tax levies with tax liens, but they are distinct legal terms. While a tax levy (#IRSgarnishment) is the seizure of property, wages, bank account, a lien is merely a legal claim (public notice) against property to grant the creditor secured status.
The IRS is permitted to use an IRS garnishment to collect a tax obligation that is due and owing and delinquent per IRC §6331. However, §6331 sets forth certain conditions that must be met prior to the authorization of a levy. FLAT FEE TAX SERVICE STOPS
AN IRS GARNISHMENT 1 DAY
These are the IRS Tax Garnishment steps:
When a tax debt has been assessed by the IRS and is now due and owing by virtue of a Notice and Demand for Payment that was mailed to the taxpayer. The taxpayer did not pay the tax and did not engage in any appeals or other options to satisfy the debt. The taxpayer has received a Final Notice advising him or her of the intent to levy and garnish the taxpayer’s right to a hearing at least 30 days before the levy.
Thus, there is a process that the IRS must follow before it can seize money from your bank account, state tax refund, or other property. Taxpayers who engage in this process can often prevent the seizure of their property.
Receiving IRS Notice CP90 – Final Notice of Intent to Levy and Notice of Your Right to A Hearing, or IRS Notice CP504 – Notice of intent to seize (“levy”) your state tax refund or other property or other similar notices can be a harrowing and anxiety-inducing experience for any taxpayer. The first thought that will may spring to mind may be “How he heck did this happen?” It is certainly a difficult situation to face, but it is far from a hopeless one. However, the failure to take action can and probably will result in the loss or seizure of certain property to satisfy all or part of your unpaid tax. Why Would The Put An IRS Garnishment On My Wages? An IRS garnishment is used to pay a tax debt that has been ignored.
Unlike most creditors who must go to court in order to garnish, levy and seize your earnings, but some government obligations (i.e.: money owed to the IRS), don’t require a court order.