notice of intent to levy: How IRS Levies Work
- 01/26/20 09:01 AM
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS. The IRS Tax Levy is the method used to actually seize a taxpayer’s assets in order to collect on a tax debt. These levies happen when the taxpayer ignores the IRS about the debt, or there is a breakdown in the negotiations between the two parties. The Levy is the IRS’s hammer and they know how to use it. The process is straight forward and happens after the IRS has sent various notices trying to collect on the debt. The process itself is as follows: The IRS issues a Notice of … (1 comments)
notice of intent to levy: What about IRS Levies?
- 07/06/19 08:17 AM
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS and Florida Department of Revenue. A Federal Tax Levy is the actual seizure of a taxpayer’s assets because of past-due taxes. Usually, it involves a bank account or wages.
There are two types of Levy. A Regular Levy is one that seizes what the taxpayer owns at that moment such as cash in a bank account. The other variation is the Continuing Levy which stays in place to continue to grab wages as they are earned.
One of the big myths is the idea that the IRS cannot Levy an IRA, 401(k) or other … (0 comments)
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Jim Payne, CPA
CPA firm practicing in the area of IRS Collections
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS.
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