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Tag: tax levy

5 Ways to Stop an IRS Levy

How to Stop an IRS Levy

How to Stop an IRS Levy When the IRS is about to levy your assets, you should look for any possible opportunities to stop or delay the levy. Once the levy happens, it’s very difficult to get that property back, but there are several ways to stop a levy before it takes place.

When Can the IRS Levy Property Without a Hearing?

IRS Property Levy Procedures

IRS Levy Procedures The IRS must follow certain procedures before seizing your property. Typically, that process goes something like this: You receive a notice stating that tax has been assessed and asking you to pay it. You don’t pay or resolve the matter by the deadline. A Final Notice of Intent to Levy is sent… Read more »

When to Make an Administrative Wrongful Levy Claim

IRS tax lien

What is an Administrative Wrongful Levy Claim? You can file an administrative wrongful levy claim when the IRS seizes property to collect tax revenue owed by another person and you have a superior right to this property. This typically means you either own the property or have a security interest that was filed before any… Read more »

How to Get an IRS Levy Released

IRS Tax L:evy Release

To get a levy released, you’ll need to contact the IRS and give them an acceptable reason for releasing the levy. Generally, you can request a levy release if you’ve worked out a payment arrangement, are experiencing an economic hardship due to the levy, or the IRS failed to follow the correct procedures.

How to Prevent a Tax Seizure

How to Prevent a Tax Seizure

Preventing a Tax Seizure If you refuse, ignore or fail to pay your federal income taxes, the Internal Revenue Service has the legal right to seize your property. Property levies are the most severe action taken by the IRS. In case you are behind on the tax debt, you should understand how tax seizures work… Read more »

How to Stop an IRS Wage Garnishment

What is a wage garnishment

What is a Wage Garnishment? A wage garnishment is one of the most powerful collection tactics used by the IRS because it takes your money before you ever receive it. Your wages are transferred directly from your employer to the IRS in order to satisfy your delinquent tax debt. You should receive several notices from… Read more »

When to Request a Collection Due Process Hearing

Tax Levies and liens

What is a Collection Due Process Hearing? A collection due process (CDP) hearing gives you one last chance to avoid a federal tax lien or tax levy. You will know you have a right to request a CDP hearing because you will receive a CDP notice. This notice is sent when any of the following… Read more »

IRS Jeopardy Levies: The Silent Killers

How Can a Jeopardy Levy Place You In Jeopardy? As we have discussed in some previous posts, IRS levies are usually attention-getting tools as opposed to collection tools. The Service almost always cancels bank and other levies if the taxpayer enters into a repayment or other plan. But if the IRS suspects that it will… Read more »

IRS Expands Automated Levy Program

Federal Payment Levy Program

How the Automated Levy Program Works In the fall of 2017, there was a lot of talk about tax reform, and GOP leaders assured everyone that their paychecks would be a little larger thanks to their tax cuts. That may or may not be true, but one truth we do know is that some people… Read more »