A levy is not the same as a lien; it’s worse. According to the IRS, “A lien is a legal claim against property to secure payment of the tax debt, while a levy actually takes the property to satisfy the tax debt.” The IRS can even levy assets that you own but are held by someone else. If you own it, they can definitely take it. This can include your automobile, checking accounts, stocks – the list goes on.
You can resolve your IRS problems, but you need expert tax representation on your side. Our Illinois tax resolution team has been helping individuals, families and businesses resolve their tax problems for years. We invite you to contact us for a complimentary consultation.
Waking up to finding your bank accounts have been cleaned out sounds unbelievable, but it can happen. The IRS will work to collect every penny and will continue to do so until you cover your tax obligation. This could include wage garnishments, which are when most of your paychecks go to the IRS, until the tax debt is paid.
If you don’t pay your takes or make an arrangement to settle what is owed, the IRS can and will authorize a levy against you. If you received an IRS bill titled Final Notice of Intent to Levy and Notice of Your Right to A Hearing, contact our Illinois tax resolution team right away.
It’s time to resolve your tax lien, levy or wage garnishment problems and get your life back on track. Call us today at (855) 829-3497!