An IRS levy can ruin your life! A levy is the IRS’s way of getting your immediate attention. They have tried to communicate with you, but you have ignored them. Levies are used to seize your wages and whatever other assets you have. If you own it, they can take it. This includes bank accounts, cars, boats, stocks, bonds, paychecks, and even Social Security checks!
Imagine waking up one morning to find that all your bank accounts have been emptied! This is what a levy can do…they will take every dime, your checks will bounce, your debt will multiply exponentially! But the IRS does not care. They will continue to take from you until your taxes are paid!
The IRS can levy your wages, as well. This is called a garnishment. The IRS will take money from each paycheck until your taxes are paid. They won’t be worried about leaving you enough to pay your bills. Your debt will grow, so theirs can be satisfied!
The IRS can also levy your assets. They will seize your belongings to sell at auction until your outstanding taxes are paid in full. This includes everything you own: homes, cars, boats, jewelry, motorcycles, insurance policies, retirement funds, anything of value.
We are often able to get these levies released, and to wake you from this nightmare. Our goal is to develop a plan that will satisfy your IRS debt in a manner that you can afford. If the IRS has placed a levy on your assets or wages, call our office today! We can help! 615-326-TAX9.