What is an IRS Levy?
A wage levy is a situation where your employer is forced to remit part of your salary to the Internal Revenue Service (IRS). A tax lien placed on your property can make it almost impossible to sell or even refinance. IRS has the powers to seize your property including cars, boats, bank accounts, and any other valuables.
The best thing to do to avoid such a scenario is to hire an experienced IRS collections attorney Atlanta. This is particularly important if you have been notified by the IRS that your bank accounts or wages will be levied. The earlier you engage a commercial IRS collection attorney, the better your chances of stopping the IRS from enforcing the order.
The problem is that some people wait too long before contacting a debt collection lawsuit attorney. This often gives the IRS an opportunity to enforce their order without interruptions. Once your employer has accepted to deduct your salary, it will be difficult to reverse the decision. That’s why your initial actions matter a lot.
IRS is required by law to notify you through mail with regards to any tax you owe. You should regularly check your mail and talk to IRS officials if you are facing any financial problems.
In case you bump into a document written “Final Notice of Intent to Levy” and your right to a hearing, there are high chances that a levy is imminent.
After receiving a notification, you have 30 days to appeal your case. A lawyer will help you to do the following:
- Prevent the IRS from seizing your bank accounts
- Prevent the IRS from seizing your social security checks
- Prevent IRS from seizing your home or property
- Prevent IRS from garnishing your wages
- Facilitate the return of any property seized by the IRS
Can a tax levy be released?
Yes, it is possible to have your tax levy release. But before you consider and appeal or do anything, it is important to liaise with IRS collection lawyers. An IRS lawyer will advise you on the best course of action. In most cases, a lawyer will try to prevent the levy from being implemented. They can also demand the levied assets to be returned from the creditors.
In order to file an appeal, you need to talk to commercial IRS collections attorneys as soon as possible after receiving a notification from IRS. Your lawyer will work closely with the IRS Independent Office of Appeals to ensure that justice is granted.
A levy is usually released after you have paid your tax debt. It is also possible to have your levy released after filing an appeal for other reasons. The Internal Revenue Service will have no option but to release a levy if:
- The collection time ended before the levy was given
- You have paid the amount you owe
- You assure the IRS that you will be able to remit your taxes if the levy is released
- The value of the property being levied is more than what you owe
- You agree with IRS to pay the tax debt in installments and refrain them from collecting the levy further
Experienced tax and audit defense
It is always possible to prevent a tax levy, as long as you engage experienced commercial IRS collection attorneys. This is because they have past experienced in IRS negotiation processes. Contacting them early will give them ample time to prepare a strong defense.
The Law Office of Max Benkel has been in operation for several years. They have helped many people with IRS levy matters and continue to do so. It doesn’t matter how serious your issue is, you are assured of getting proper legal assistance from expert lawyers.