Notice of Levy

A Notice of Levy is another method the IRS may use to collect taxes that are not paid voluntarily. This is a letter that the IRS sends to the taxpayer advising that it will start attaching liens on property. It is a good indication that the IRS has lost its patience waiting for the taxpayer. The IRS, at that point, will no longer wait to get paid.

This means the government can, by legal authority, confiscate and sell property to satisfy your tax debt. This could include your car, boat, or even real estate.

Even Your Money is Not Safe

The IRS may also levy assets such as your wages, bank accounts, Social Security benefits, and retirement income. In addition, when you have an outstanding tax liability, any future federal tax refunds that you are due will be offset by the amount you owe. Any state income tax refunds you are due may also be levied, and the proceeds applied to your liability.

What to do When You Receive a Notice

When you receive a Notice of Levy, you must deal with it right away or you may see your property and money “disappear”. Imagine your mortgage and car payment is due and when you check your bank account, the money is gone. This is a scary situation because now you don’t have enough funds to pay even your basic bills. Much less the IRS.

Ignoring the Notice of Levy is a big mistake 

You must retain the services of an experienced tax resolutions service who are experienced in addressing these issues. Taxpayer Rescue can certainly provide this service and deal with your tax issue right away.

If you received a Notice of Levy and you are unsure what to do, call us now for a consultation at 602-123-4567.  You also have the option to complete our contact form here → Contact Us. Be sure to describe your situation in detail and a tax professional will contact you soon.