tax levy: Richardson TX - The IRS Tax Levy and What They Can't Take - 05/04/19 09:52 AM
The Tax Levy
The Tax Levy is probably the IRS’s most potent tool to deal with delinquent taxpayers. It quickly gets the Taxpayer’s attention and is the most common reason that new clients come to our Richardson, TX office. In prior blogs, we’ve discussed the Levy Process and what to do if you find yourself levied. In this installment of the IRS Levy series, we’ll take a look at what the IRS CAN NOT levy.
 
What the IRS Can’t Levy
Certain Property is Exempt from Levy. This Property includes –
85% of Unemployment Benefits (Meaning 15% is available for levy) 85% of … (0 comments)

tax levy: Richardson TX - I've Been Levied By the IRS. What Do I Do? - 04/30/19 07:55 AM
A tax levy is the actual seizure of a taxpayer’s property by the government in order to resolve delinquent tax debt. The tax levy is probably the IRS’s most potent tool to deal with delinquent taxpayers. It quickly gets the Taxpayer’s attention and is the most common reason that new clients come to our Richardson, TX office. The IRS issues tax levies after they have sent several notices to the taxpayer that have gone unanswered, or the taxpayer has failed to stick to an agreement.
 
What You Should Do If You Receive a Final Notice of Intent to Levy?
Before you are levied, … (0 comments)

tax levy: Richardson Plano TX - IRS Levies - The Regular vs. The Continuing Levy - 04/26/19 02:56 PM
The Tax Levy is probably the IRS’s most potent tool to deal with delinquent taxpayers. It quickly gets the Taxpayer’s attention and is the most common reason that new clients come to our Richardson, TX office.
 
Types of Levies
A regular levy is a levy that is effective against only the taxpayer’s property being held at the time the levy is served. Examples are Bank levies, levies on receivables, and retirement accounts. As an example, here’s how a regular levy works for a bank levy. Banks will hold money for days before sending it to the IRS.On Day 1, bank receives … (0 comments)

tax levy: Richardson TX - What is a Collection Due Process Hearing with the IRS - 04/21/19 04:41 PM
he two main avenues of collection activities by the IRS is through 1) the NTFL (Notice of Federal Tax Lien), and 2) levies including bank levies and wage garnishments. Whenever the government files a Notice of Federal Tax Lien (NFTL) or issues a final notice of threat to levy, the taxpayer has 30 days to request a Collection Due Process (CDP) hearing with an appeals officer.
 
In order to do so, the Taxpayer will file IRS Form 12153, Request For a Collection Due Process or Equivalent Hearing. It is important to file Form 12153 properly or it will be rejected.
 
There … (0 comments)

tax levy: The IRS 10 Year Statute of Limitations and Tax Debt in Richardson, TX - 02/02/19 03:02 PM
There is a limit on how long the IRS has to Collect Tax Debt?
It may surprise you, but the IRS has 10 years from the date of assessment to collect a tax debt from taxpayers including my clients in Richardson and Plano, TX. In most cases, after 10 years, the debt becomes uncollectible by the IRS. There are certain exceptions that may delay or toll the 10 year time limit. We’ll cover those below, but in general, without any actions by the taxpayer which stock the clock, once the 10 years are up, the IRS has to stop its collection efforts … (1 comments)

tax levy: Richardson TX - Tax Compliance - The Key to Resolving IRS Debt - 01/27/19 10:33 AM
As I’ve stated in other articles, as of the end of 2017, there were over 14 million taxpayers in some stage of the collection process with the IRS and many of those taxpayers are in Richardson, TX and throughout the DFW vicinity. While these issues can seem insurmountable, you can resolve them if you take the proper actions.
 
How do you Solve Your Tax Problems?
While there are several methods to resolve your tax debt including Installment Payments, Offers in Compromise (OIC), and being placed in Currently Uncollectible Status, until you get into Tax Compliance, these are not viable options until you get … (2 comments)

 
Bob Jablonsky, Helping you resolve your IRS Problems! (Bob Jablonsky & Associates) Rainmaker large

Bob Jablonsky

Helping you resolve your IRS Problems!

Richardson, TX

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