Tax Levy - Chula Vista Tax Relief - Stop IRS Wage Garnishment
Updated: Apr 18, 2019
Stop IRS Wage Garnishment - Tax Levy - Chula Vista - California
How a Tax Levy Works
Before we address tax levies, let’s go over the basic steps of the IRS collection process, from billing to enforcement. Generally: If you owe taxes, the IRS will send you a notice (referred to as your “first bill” for tax debt due). If you don’t pay your tax debt after receiving the first bill, the IRS will send you at least one more notice. If you still haven’t paid by the time you receive your final bill, the IRS will start to enforcement actions. Collection actions can range from taking your paychecks (#IRSwagegarnishment), bank account (#IRStaxlevy), and future tax refunds to seizing your property. For more information, refer to IRS Publication 594 (The IRS Collection Process).
There are several events that must occur before the IRS places a tax levy on your assets. First, the IRS sends you a “Notice and Demand for Payment” after their tax assessment has been made. Second, you either neglect or refuse to pay the tax debt shown on your notice. Third, the IRS then sends you a “Final Notice of Intent to Levy and Notice of Your Right to A Hearing” (tax levy notice), which you may receive at home, work, or in person. If the IRS gets no response from you within 30 days of sending the levy notice, a tax levy will be placed on your property/assets.
You do have rights when dealing with the IRS. These rights have been spelled out by the IRS and fundamental for every taxpayer. Hiring a good and reliable IRS tax relief company such as, Flat Fee Tax Service, Inc. for your Chula Vista tax problems, will guarantee you are properly represented and your rights to tax relief are being protected. Per IRS.gov, you have the following rights:
1. The Right to Be Informed
2. The Right to Quality Service
3. The Right to Pay No More than the Correct Amount of Tax
4. The Right to Challenge the IRS’s Position and Be Heard
5. The Right to Appeal an IRS Decision in an Independent Forum
6. The Right to Privacy
7. The Right to Confidentiality
8. The Right to Retain Representation (#IRStaxattorney)
9. The Right to a Fair and Just Tax System
10. The Right to Finality
Types of Tax Levies
Wage Garnishment -
IRS Tax Levy
An IRS wage levy (often referred to as ‘wage garnishment’) is the most common form of IRS levy (#IRSwagegarnishment). Under this type of tax levy, the IRS orders your employer to subtract a certain amount of money from each pay period to go toward your tax liability – and usually only a small portion is left for you to keep. An IRS wage garnishment is "continuous" which means it will keep on taking your money unless it is stopped and released.
FLAT TAX SERVICE, INC. TAX ATTORNEYS CAN STOP YOUR IRS TAX LEVY IN AS LITTLE AS FEW HOURS.
Levy on Your Financial Accounts (Bank Account Levies)
Another common form of levy involves your bank accounts and other monetary assets (such as investments, dividends, retirement accounts, licenses, and the cash loan value of your life insurance). The IRS may access your financial accounts and monitor them, and then take the funds to pay your tax debt. *If your name is on a bank account with someone else (Mom, dad, sister, brother, etc.), the IRS will still seize it.
If your bank account is levied, your bank is required to hold funds that you have on deposit (up to the amount of tax due) for 21 days. This is a holding period in case there are any issues regarding account ownership. Once 21 days have passed, the bank must send the money to the IRS. The 21 day period includes Saturdays, Sundays and holidays so you do not have a lot of time to lose.
Levy on Social Security Benefits, Veterans Pension and SSDI
Through the Federal Payment Levy Program (FPLP), the IRS may levy up 15% of each Social Security, SSDI or Veterans Pension payment until your tax debt is paid. The FPLP is an automated system managed by the Department of Treasury, which is in charge of levying (i.e. reducing) your payments.
YOU DO NOT NEED TO SUFFER
CALL 1-866-747-7435 YOUR TAX LEVY PHONE NUMBER
Do not panic if you are are facing a tax levy and find yourself behind on your taxes. Our IRS tax relief team of Tax Lawyers has a full arsenal of tax relief strategies to help manage, reduce, or forgive your tax debt. These options include: Offer in Compromise (#offerincompromise), Installment Agreements, Currently Not Collectible Status (#currentlynotcollectible), Penalty Abatement, Tax Lien, Levy Appeal, Innocent Spouse Relief, and Tax Preparation (#unfiledtaxreturns).
Procrastination is not a wise idea or an option worth your consideration. Delay in addressing your situation will only increase your penalties, fees, and decrease your chances of a positive outcome. The most important thing you can do right now is to be pro-active and contact Flat Fee Tax Service, Inc. in Chula Vista, San Diego, Southern California immediately.
If you live in Chula Vista, San Diego or Southern California and need to find out what tax relief programs you qualify for, call us today for your free and confidential initial consultation with our tax professional. Chula Vista Taxpayers deserve better and so do you!
FLAT FEE TAX SERVICE, INC.
GOOD PEOPLE - DOING GREAT WORK