If you owe money, the IRS can take it. You will immediately lose access to your account — unable to withdraw money, write checks, or make payments on your mortgage, car, or other loans. Good news though. Our tax attorneys can help you get relief immediately.
An IRS levy permits the seizure of your property to satisfy a tax debt. An IRS levy can take on many forms. The IRS can garnish wages, take money in your bank or other financial account, seize and sell your vehicle, real estate and other personal property. This letter provides 30 days to request a hearing. An IRS levy is a legal seizure of your property to satisfy a tax debt. Levies are different from liens. A lien is a legal claim against your property to secure payment of your tax debt, while a levy actually takes the property to satisfy the tax debt.
If you need to resolve a Federal Tax Lien , we discuss that here. An IRS wage garnishment is essential a levy of your wages. A wage garnishment follows the same procedure as the IRS levy, but instead of taking your bank account, the IRS takes your wages. As you can imagine, the best pay to stop a levy is to prevent one in the first place! If you have unpaid taxes, you should consult with us immediately so that you can avoid a levy entirely! There are a number of ways you can avoid a levy.
You were unaware of the court lawsuit. In the event the lawsuit was made against you without notifying you, your tax attorneys can work to have the court judgment null and void. You were a victim of identity theft. Filing for bankruptcy can halt the process for a period of time. If you can prove the statute of limitations has passed on a debt, you can have the levy removed. It could be that in your financial case, it is unfair for the IRS to collect any overdue taxes.
Community Tax can help you determine if this applies to your dilemma. However, they will only cease collections once it is proven that it is actually unfair. If you can prove that a wage garnishment causes undue financial hardship , then the government will stop its collection.
Cases for financial hardship include the inability to pay for food, shelter, and other basic necessities. Unfortunately, this is a temporary solution, but can be essential for those struggling to come up with the necessary funds. A tax professional can analyze your financial, work, and tax situation to determine the best solution for you.
To stop tax levy actions you need to file all required back tax returns and reach a resolution with the IRS such as an installment agreement, hardship status, or a settlement. Community Tax has helped thousands of taxpayers file back tax returns and reach resolutions with the IRS. Community Tax will custom tailor a resolution plan for you that can stop or prevent tax levies and put your account into good standing with the IRS.
We work diligently to ensure that our customers are kept informed and that their tax problems are handled efficiently. Get a free consultation today and find out how you can get IRS tax levy services and your other tax resolution needs met today. Call Consent is not required as a condition of purchase. Message and data rates may apply. Skip to content. Stop Tax Levy. Did you receive a Notice of Intent to Levy?
We can guide you through the available options to stop the tax levy. Set up an arrangement: If you set up a formal repayment arrangement for the amount you owe with the IRS you can stop the tax levy. Set up a partial payment agreement: Depending on your financial circumstances, you can also set up a partial payment agreement that would result in lower payments than a regular agreement and would mean paying off less of the total debt.
Make an offer in compromise: Another solution that you may be eligible for is an offer in compromise, where you make a reasonable repayment offer that may be accepted in place of the actual amount that you owe.
Prove financial hardship: If you are hit by a tax levy but you can prove that it is causing you financial hardship, the levy may be removed. Appeal the tax levy: Another option you can look at is appealing against the tax levy. There is no guarantee that this will result in removal but if you have a valid case you may be able to get it removed. Speak to an expert: Discussing the case with an expert tax accountant is also advisable, as this could help you to find a suitable solution to get the tax levy removed.
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