IRS Tax Levies

What is a tax levy?

Under United States Federal Law, a tax levy is defined as an administrative action by the IRS under statutory authority and powers granted to them, without having to go to court, to immediately seize property by any means in order to satisfy a tax liability. The IRS can levy upon your assets such as wages, social security payments, properties, bank accounts if your debt is quite serious.

All of your assets will be in serious jeopardy with devastating outcome if your tax debt burden is not satisfied with the IRS. The IRS will resort to such final measures if all of their continued warnings and notifications or other means of communication have been ignored. They will look at what you own and they will take it. Here is what they will go after:

  • Real estate property
  • Your primary residence
  • Vehicles
  • Wages
  • Rental income
  • Bank accounts
  • Retirement account
  • Investment dividends
  • Business accounts receivables
  • Insurance policy cash values accrued

Seek Professional Help

If your financial problems seem to have surpassed any visible solutions, you must make an effort to seek professional assistance immediately to help you avoid facing potentially devastating consequences. It is important that you protect your assets and avoid an IRS levy at all cost. We at IRS Debt Help do not want you to discover one day that the IRS has seized your bank accounts and liquidated all of your assets, leaving you and your family with absolutely nothing. The IRS will go after liquidating your assets as that will make available instant funds. In fact, when the IRS levies your banks accounts, the bank is required to remove whatever amount is available in your account that day (up to the amount of the IRS levy) and send it to the IRS within 21 days unless otherwise notified by IRS. If the tax levies do not completely satisfy the tax debt burden, the IRS will continue to take your money from other assets to cover your tax liability

In the event that you find yourself with a tax levy imposed against you by the IRS, contact us immediately to schedule an appointment and devise a course of action to relieve you of the financial burden. No problem is too complex for us and with the extensive professional background at IRS Debt Help, we are committed to find all available options available to you to help release the levy. Under the provisions of IRS Code 6343, we will be able to petition on your behalf for tax relief and an end to the levy. Contact 844-332-DEBT today to schedule a free client case study and assessment and help us help you cover your back with the IRS.