IRS Levy - IRS Tax Levy Relief & IRS Bank Levy Help - Call For Free Consult 1-877-658-3477 |
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What is an IRS Levy?An IRS levy refers to the seizure and sale of an individual taxpayer�s assets as a method of collection on their outstanding tax debts. An IRS tax levy differs from a tax lien where the IRS is securing their position in a taxpayer's physical property. If you have an outstanding tax liability which you have not properly addressed, the IRS may choose to levy your assets as a form of payment. Both properties you currently hold and properties you own which someone else currently holds can be seized in an IRS levy. Property you own can include your current home, rental real estate, vacation properties, business assets, boats and cars. |
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Property you own but which someone else holds can include bank assets, investment assets, rental income, commissions owed, accounts receivable, notes receivable, and cash value held within life insurance policies. Before a tax levy is issues, the IRS follows several procedural steps, including:
If you have received a levy notice, you have options. But, you must act within the allotted time frame. For information on tax levies and your settlement options, contact one of our tax professionals today. Our phones are answered 7 Days A Week! For more information about what is an IRS Levy, contact one of our tax professionals at 1-877-658-3477. |
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