IRS Tax Levy
What is a Tax Levy?
A levy is a legal seizure of your property to satisfy a tax debt. Levies are different from liens in that a lien is a claim used as security for the tax debt, while a levy actually takes the property to satisfy the tax debt.
What can the IRS levy?
If you do not pay your taxes, or make arrangements to settle your tax debt, the IRS may seize and sell any type of real estate or personal property that you own or have an interest in.
When can the IRS impose a levy?
The IRS is not legally required to obtain a court order before imposing a levy, because it is considered an administrative action, but there are still a few requirements that they must meet before they can. The IRS may seize and sell any type of real estate or personal property that you own or have an interest in.
Requirements for the IRS to impose a tax levy
Quick note about the final notice: the IRS may give you this notice in person, leave it at your home or your usual place of business, or send it to your last known address by certified or registered mail, return receipt requestedGetting an IRS tax levy released is difficult, but not impossible. Remember, the IRS does not want to ruin your life, just get paid what they are owed. This is where a tax resolution specialist can help you. A qualified tax professional can speak to the IRS on your behalf, get to the root cause of the problem, and begin to get the matter resolved
If you have recently received a Demand for Payment, or an Intent to Levy, you need to act quickly. Please consider speaking with a tax professional to at least discuss your options. To speak directly with a tax advisor at our firm, call us at (888) 918-8121. The call is free, the consultation is free, and you are under no obligation to hire us.