IRS Levies
We can help you avoid them – or release them.
“The whole process from start to finish was seamless. Glen was a pleasure to work with; efficient, kind and helpful! We will be using EAS Income Tax Services for all of our tax needs in the future!”
Paul H.
Regain Your Financial Stability
An IRS levy is a legal action that allows the IRS to seize your property to satisfy a tax debt.
What is a Levy?
A levy is different from a lien. While a lien is a legal claim against your property to secure payment of the tax debt, a levy actually takes the property to satisfy the debt.
Types of Property Seized:
The IRS can levy various types of property, including wages, bank accounts, vehicles, real estate, and other personal property. They can even take Social Security benefits.
Process:
Before issuing a levy, the IRS must:
Assess the tax and send you a Notice and Demand for Payment.
Send you a Final Notice of Intent to Levy and Notice of Your Right to a Hearing at least 30 days before the levy.
If you do not respond or make arrangements to settle your debt, the IRS may proceed with the levy.
Impact:
A levy can result in the immediate seizure of funds from your bank accounts and garnishment of your wages. This can cause significant financial hardship, as it may leave you with insufficient funds to cover your daily expenses.
Release of Levy:
A levy can be released if it is causing immediate economic hardship or if it was issued in error. You can also work with the IRS to set up a payment plan or settle your debt to have the levy released.
Understanding the levy process and knowing your rights can help you navigate this challenging situation. If you find yourself facing a levy, CONTACT US IMMEDIATELY.