The IRS is the most powerful creditor on the planet. They can walk into your bank and take all of the money out of your bank account. They can also take your wages and salary by telling your employer to not pay you. They can also seize your car, home or business. The IRS has three main ways to collect money from you by force.
To learn more about how they can do this and what you can do if you are facing any of these collection efforts, read on.
The IRS, by serving a levy on your bank, can take all of the money in your account. If the IRS has levied on your bank account, you have twenty-one (21) days in which to obtain a release of the levy. If the levy is not released within that 21 day period, ALL of the money in that bank account is sent to the IRS, up to what you owe.
A bank levy is financially devastating and immediate action is required. If you are under a bank levy, or have received notice that a levy will soon be served, please call us.
Seizure of Assets
The IRS has the authority to seize assets including, but not limited to, your house, boats, cars, airplanes and ATVs. The IRS also has the authority to seize your business.
If any of your assets have been seized, or if the IRS has threatened to seize your assets, including your home or business, please call us. We can help.
Unlike other creditors, the IRS has unprecedented power over you to collect unpaid tax liabilities simply by serving a piece of paper, a wage levy or garnishment called a Notice of Levy, on your employer. If you are a W-2 employee, the IRS can basically take your entire paycheck. You are then essentially working for free and will receive little, if any, money in your paycheck.
If you are self-employed or are an independent contractor, the IRS can levy on or garnish the people that pay money to you for your services. If a levy is served, the people that owe money to you are required to pay ALL of that money to the IRS.
If the IRS has levied on or garnished your wages or income, we can help. Give us a call today.
A wage levy is financially devastating and immediate action is required. If you are under a wage levy, or have received notice that a levy or garnishment will soon be issued, please call us.