Stop IRS Levy & Seizure
Receiving notice of an IRS levy or lien can be a very frightening time.
Just the thought of the IRS seizing all of the money in your bank
account(s) or taking your state income tax refund or any payments you
may normally receive from the federal government can be unbearable. When
an IRS levy, such as a bank levy, is issued, the bank is legally
obligated to immediately freeze any and all of your accounts. The bank
must then hold those funds for 21 days, giving you time to resolve the
debt. If you have not resolved the debt in those 21 days, the bank must
send those funds to the IRS.
And to think the IRS can actually seize and sell your personal property
can be financially and emotionally devastating. Unfortunately, it does
happen, although rarely. The IRS can take and sell any property, such as
a boat, car or even a house.
AtTax & Business Solutions, we never advise any taxpayer to take on the
IRS themselves, especially if it involves an IRS levy or lien.
Tax & Business Solutions can begin work on your case by requesting a Stay of
Collections for up to 90 days. If the Stay of Collections is granted,
the IRS will not contact you about your back taxes for up to the 90-day
period granted. And it gives Tax & Business Solutions the time needed to negotiate a
better settlement, whether with an Installment Agreement, Offer in
Compromise, or another form of resolution.
According to the Fiscal Year 2007 (Oct. 1, 2006 through Sept. 30, 2007)
IRS Enforcement and Service Statistics, nearly 3.8 million levies were
issued against taxpayers. That number increased 17 times since fiscal
year 2000 when just over 200,000 IRS levies were issued.
But that’s not all. In the same fiscal year 2007, the IRS filed nearly
700,000 liens against taxpayers, an increase of 407 percent from fiscal
year 1999 when 167,867 liens were filed.
If you receive an IRS levy or lien notice, contact us immediately. When
you hire Tax & Business Solutions, you can be comforted by knowing that our Tax Team
has years of experience dealing with the IRS. You can face the IRS with
confidence when you have our Tax Team on your side.
