What to do When Facing an IRS Bank Levy or Wage Levy

When you find yourself indebted to the Internal Revenue Service and you’ve neglected to pay what they say you owe, you will more than likely face the possibility of an IRS wage levy. This is the legal seizure of wages before you ever see them in an attempt to satisfy your tax debt. You may also find yourself facing an IRS bank levy, where the Internal Revenue seizes money straight from your back account to satisfy a debt. If you feel as if you may be facing either of these undesirable situations, an IRS tax relief service may be able to provide a solution that keeps you from losing everything.
If you have not paid your taxes or at least made an attempt to set up some sort of IRS tax payment plan, the Internal Revenue Service may seize and sell property such as a car, boat or house. They may also levy your wages, retirement accounts, dividends, bank accounts, licenses, rental income, accounts receivables, the cash loan value of your life insurance, or commissions. The Internal Revenue Service will typically give you several opportunities to settle your debt, however, starting with a Notice and Demand for Payment that is sent after they have assessed the tax. If you neglect or refuse to pay the tax they will send a Final Notice of Intent to Levy and Notice of Your Right to A Hearing at least 30 days before the levy.
Once things have gotten to the point that you are facing an IRS wage levy or IRS bank levy, it is not too late to get help and try to make the most of the situation. You can appeal by filing a request for a Collection Due Process hearing with the IRS office listed on your notice. This might be a good option if you were in bankruptcy when the notice was sent, if the IRS made a procedural error in the assessment, you did not have an opportunity to dispute the assessed liability, you wish to discuss the collection options, or you wish to make a spousal defense.
An IRS tax relief professional can help make sure all the proper paperwork is filed and every step is taken to defend your position. If you are facing an IRS wage levy or bank levy you should not go it alone.

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For more resources regarding IRS payment plan or even about lien subordination and especially about 941 payroll issues please review these pages.

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