Having a debt with the IRS can weigh heavy on you, but once the IRS decides to take action against you the situation can be difficult to maneuver alone. The IRS is serious about collecting taxpayer’s debts. An IRS Levy permits the seizure of your property to satisfy your tax debt. The IRS can take your house, car, savings, salary and even your Social Security checks.
The IRS will issue a levy after these three requirements are met:
- The IRS will assessed the tax and sent you a Notice and Demand for Payment
- You neglect or refuse to pay your taxes
- The IRS will send you a Final Notice of Intent to Levy and a Notice of Your Right to A Hearing, 30 days before the levy.
The only way to avoid a levy is by paying your taxes and settling your debt with the IRS, but if the IRS has sent you a Notice of Intent to Levy you must take action immediately.
If you are unsure of where to begin then you should contact JLD Tax & Accounting today to begin the process of reversing the IRS Levy. Let us work with you to help you understand your situation and provide you with the best option.