Tax Levy -
Here's What We Can Do For You
Release an IRS Levy / End Tax Garnishments
What is a Tax Levy? General Tax Levy Process
As you can tell, our tax professionals emphasize the importance of stopping a tax levy. A tax levy is the number one (1) reason why taxpayers call our tax professionals. Many people find themselves with serious tax problems because of procrastination. Nothing will get someone's attention like having your paycheck taken away.
What is an IRS tax levy or tax garnishment and how does a U.S. taxpayer prevent these IRS enforcement actions from happening? IRS tax levies and tax garnishments are two very severe IRS collection strategies that are extensively employed to help collect back tax debts. The IRS has immense powers to seize your assets, attach your income, and withhold access to your own money in order to collect back tax debt. If you owe the IRS any amount for back taxes, it is important to seek immediate help from an experienced tax attorney who can protect you from the IRS. Our tax professionals will set in motion the necessary work to accomplish the best possible outcome in your case.
When the IRS enforces a tax levy on your bank account, you will have 21 days to save your money. The 21 days includes Saturdays, Sundays and holidays. Needless to say, this doesn't allow any time to be wasted. You need to act immediately. Not on the 19th or on day 20 but day one.
Tax Levy or
IRS Garnishment Info:
An IRS tax levy is the seizure of your wages, paycheck, property, assets, or bank account(s) to pay a tax debt to the IRS. The IRS will seize and sell your house, real estate, investments, car, boat, collection, and every asset that can be sold to retire your debt. The IRS can and will place a tax levy against your bank account. A tax levy provides the IRS with the right to take all the money in your account(s) and any future money that may come into the associated account.
This applies to all sorts of bank and investment accounts and income including:
• Retirement Account(s)
• Professional Licenses
• Business Accounts Receivable
• Rental Income
• Cash Value of Life Insurance
If do not have enough money in these accounts, and if a single paycheck is not enough to satisfy your debt to the IRS, the agency can place a tax levy against your wages which is known as a “tax garnishment.” This tax levy will continue until either your tax debt is paid in full or it is stopped and released by procedures.
Tax Levy -
against your wages. This type of tax levy
will seize a percentage of every paycheck, commission or dividend payment until your tax debt is paid in full or is released. IRS garnishments are not limited to the amounts established by federal and state laws relating to normal creditors, and the IRS can garnish all of your check leaving you little or nothing to live on.
THE IRS CAN SEIZE 100% OF YOUR PAYCHECK VIA A "MANUAL LEVY".
There are national guidelines that establish the amount of your income that is set aside for living expenses. The living expenses are called "allowable expenses". Credit card payments are not "allowable expenses" as far as the IRS is concerned.
As an example states like California, Florida and New York are some of the most expensive places to live, and the amount established in the federal guidelines is almost never enough to cover basic living expenses.
Protect Yourself from the IRS and Take Action if You Receive a “Notice of Intent to Levy”
THE IRS TAX ATTORNEYS AT FLAT FEE TAX SERVICE CAN
STOP AND HAVE YOUR TAX LEVY - TAX GARNISHMENT
RELEASED IN ONE (1) DAY.
WE FIGHT EVERYDAY FOR YOU.
The process of a tax levy or IRS garnishment will begin with a formal letter from the IRS which is a “Final Notice of Intent to Levy.” This IRS Notice provides 30 days for you to respond or the IRS will seize your assets and garnish your wages. The IRS doesn't have to ensure that you have received the "Final Notice of Intent to Levy". The IRS only has to mail it to any address that they have on file for you.
IS YOUR BANK ACCOUNT(S) IMPORTANT TO YOU?
HOW ABOUT YOUR PAYCHECK?
You have rights as a U.S. taxpayer, and we can stand up to the IRS on your behalf. Our tax professionals work tirelessly to find alternatives to the extreme collection tactics of an IRS tax levy, tax garnishment, or federal tax lien.
to retire the debt over time. Our tax professionals will review
your circumstances and develop options that
will meet with IRS approval. These tax relief options provide
additional time to repay the debt as well as additional
breathing room and access to your financial resources.
The “attorney-client privilege” protects our conversations and allows us to work candidly and effectively to understand all that has happened, and to identify and implement the best solution that will allow you to fulfill your obligations to the IRS and move forward with your life.
Refresher: The Best Ways to Release a Tax Levy
Pay Your Debt in Full (or)
Enter an Installment Agreement (or)
Demonstrate Undue Hardship (Currently not Collectible) (or)
File an Offer in Compromise (OIC)
GIVE OUR TEAM A CALL.
FREE AND CONFIDENTIAL CONSULTATION:
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