A tax levy is one of the harshest collection mechanism used by the IRS and state taxing authorities. A levy is the legal seizure of your assets to satisfy back taxes owed. This is different from a tax lien because a lien is only a claim to your assets while a levy is the actual seizure of the assets. The IRS may levy your bank accounts, investment accounts, accounts receivable, wages, social security, pensions, insurance policies and actual physical assets.
Understand your options and receive a tax consultation today. We’ll conduct a tax analysis based on your specific situation and present available solutions for consideration.
- Analyze your financial situation and tax records and help you decide which resolution measure would be appropriate for your situation.
- Ensure your balance is minimized through appropriate tax resolution measures prior to IRS negotiation.
- Submit your package to the IRS and negotiate a levy release on your behalf.
A. The IRS is required to send a Notice of Intent to Levy prior to any effort to collect unpaid taxes. A tax levy is a powerful collection tool used by the IRS to compel taxpayers to take action to resolve tax debts owed to the IRS. The IRS serves millions of levy notices each year.
Q. Can I get fired from my job because of a Levy or Garnishment of my wages?
A. IRS contact in the workplace can be embarrassing and create additional administrative work for an employer who has to comply with IRS attempts to levy or garnish an employee's paycheck. However, an employer is prohibited from terminating your employment as a result of the IRS demands. We recommend you Schedule a Consultation with us to determine how we might help to stop IRS communications with your employer. We do not recommend contacting the IRS on your own.
Q. Can the IRS seize my entire paycheck?
A. No, IRS Publication 1494 provides a table for the amount of monthly income that is exempt from IRS confiscation to provide a minimal amount of income for monthly living expenses. However, the IRS can continually levy your pay until your tax problem is resolved. The IRS will not stop, cease or desist in its collection efforts through notification to your employer to withhold taxes owed from your paycheck to resolve the unpaid taxes.
Q. What is the cost of your Levy and Garnishment removal services?
A. Our IRS tax resolution fees are based on our flex-fee structure, and all costs are pre-approved by you when you decide to hire us. We offer payment plans, if needed, and set our fees so you do not have to worry about unexpected legal bills. There are no surprises, no add-ons. Because every situation is different, we recommend you Schedule a Tax Consultation so we can discuss your case in detail.