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Everything About IRS Levies
By Darrin Mish of Law Offices of Darrin T. Mish, P.A.
Everything About IRS Levies To make sure that you pay your penalties and tax debt, the IRS applies the levy. Your income and your properties can be levied. It is a drastic measure that can financially incapacitate you, so if you receive a Levy Notice, it's advised to act fast. Before a Levy Notice is issued, a Demand for Payment will be received. Ask a tax attorney to get help in avoiding a levy and show with documentation why you weren't able to settle the taxes and penalties that were demanded from you. Many people commit the mistake of ignoring an IRS Levy Notice. You should ask a tax attorney who can counsel you and help you ask for a Collection Due Process hearing at the IRS Office of Appeals in your area. In the hearing, you can provide evidence that the IRS made a mistake if you were levied because of an IRS error and you have already paid your taxes. There are several cases which will prevent the IRS from pursuing a levy. It is the taxpayer's responsibility to make the IRS Office of Appeals aware of these cases. If you have filed for bankruptcy , the IRS can't subject you to a levy. You also shouldn't be levied if you've paid the unpaid debt prior to or quickly after you got the Levy Notice. The statute of limitations is one loophole to prevent a levy that many people do not know about. The IRS is prevented from collecting taxes assessed over ten years ago by the statute of limitations. If the tax collection period expired before the IRS served your Levy Notice, you're exempt from the levy and from settling the taxes and penalties. Working out an installment plan to settle unpaid taxes can also be achieved in the Collection Due Process hearing. If you do indeed owe the IRS money but aren't able to pay the full amount, you will need to work out a payment option with the Office of Appeals. While not the ideal choice, the installment option will be less of a financial burden than having your wages garnished or your bank account levied. Unless the statute of limitations was met, it's released officially, or your debt is paid off, the IRS will enforce the levy. If you file for refund within thirty days after the IRS mistakenly levied your bank account, your bank charges will be reimbursed. Take quick action to safeguard your assets if you're in danger of being levied or experiencing IRS tax issues. Scared and ignorant taxpayers ignore IRS problems. Ignoring a Levy Notice will only lead to more problems because it is the most serious of all IRS actions. Seek help immediately proactively if you're having difficulty in settling your taxes. Darrin T. Mish is a Nationally recognized Attorney whose practice focuses on representing clients across the United States with IRS Problems. He is AV rated by Martindale-Hubbel and is a member of the American Society of IRS Problem Solvers and the Tax Freedom Institute. He has been honored by a listing in Martindale-Hubbel's Bar Register of Preeminent Lawyers. His passion is providing IRS help to taxpayers with both individual and payroll tax problems. He also spends a great deal of time traveling the nation providing training to attorneys, CPAs and Enrolled Agents on how to handle their toughest cases with the IRS. If you would like more information about his services please visit http://getirshelp.com. |
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