Help! I Need To Stop An Irs Levy-sorpack

Finance If you are facing a tax levy, then obviously you have procrastinated addressing a serious IRS past due tax problem.  Most taxpayers do not remit their past due tax bill simply because they do not have the money to do so.  Unfortunately, you are now in need of urgent IRS tax problem help if you are going to stop the IRS levy.     A levy is the legal seizure of your property to satisfy a past due tax debt.  The IRS has a .prehensive and frightening arsenal of collection tactics to insure it gets paid for past due tax liabilities.  A levy is one of the most daunting tools in their collection.  Unlike a federal tax lien, which is used as security for the tax, a levy actually takes your property from you to “satisfy” your past due tax debt. There are several types of levies that may be enforced by the IRS.  One of the most .mon is the wage levy.  An IRS wage levy instructs your employer to withhold a portion of your paycheck and remit it directly to the IRS to “pay down” your past due tax liability.  The employer must .ply immediately with the wage garnishment request and a formula is provided which will probably leave you very little in your “net paycheck”.  A wage levy can be a financially devastating consequence to non payment of IRS back taxes.  Certainly, when this occurs, taxpayers should immediately seek professional assistance to stop the IRS levy.  Another .mon form of tax levy employed by the IRS is the bank account levy.  The IRS essentially “freezes” your bank account, and the bank is legally required to hold the funds you have on deposit in your checking or your savings accounts.  This bank account levy remains in place for up to 21 days, which is the amount of time you have to seek IRS tax problem help to get this handled.  After the 21 days, your bank is required to send your money (plus interest if applicable) to the Internal Revenue Service.  If you hurry it is possible to stop an IRS levy with expert IRS tax problem help.  But you need to act quickly and secure professional tax advice.  Time is of the essence with the “21 day deadline” that has now been imposed.  Less well known by taxpayers, but still falling within the Internal Revenue Service’s legal rights of seizure under a Notice of Intent to Levy are your retirement accounts, the cash loan value of your life insurance, rental in.e, accounts receivable, dividends, and .missions.   It is possible to stop an IRS levy with a Levy Release.  Convincing the IRS to release a wage levy or a bank account levy can be a challenging task.  It is one best handled by professional tax experts, as the enforcement of a levy is financially devastating to most taxpayers.  About the Author: 相关的主题文章: