You have heard of IRS tax levy lawyers, but do you know what they can do for you? If you have been served a Notice of Intent to Levy, you may have options. First, you can dispute the levy. Second, you can request an installment plan or offer in compromise. You can also contest the levy by filing a formal appeal with the IRS. If your appeal is unsuccessful, you may need to hire a tax lawyer. For more details, visit www.kentuckytaxattorneys.net/tax-levy-lawyer-paducah-ky/.
Depending on the complexity of your tax situation, your IRS may try to garnish your wages, seize your bank accounts, and/or seize your property. You may also receive Letter 3172, Notice of Federal Tax Lien Filing. In these situations, hiring an experienced DC tax lawyer is imperative for your protection. A skilled and experienced tax attorney can represent your interests and negotiate a favorable settlement with the IRS to minimize the damage to your finances.
You can still try to negotiate with the IRS if you ignore the Notice of Intent to Levy. However, if you are not in a position to make payments, the IRS can levy your wages, home, or vehicles. If you cannot afford to pay your taxes, a knowledgeable tax attorney can help you resolve the issue. Your lawyer will be able to represent you in any appeal or Collection Due Process hearing.
If you don’t want to risk losing your home or assets, you should consider contacting an experienced tax lawyer. The IRS may be able to approve an installment plan that suits your financial situation. A tax lawyer can help you avoid the risk of a hefty mortgage or tax levy and help you find a way to pay off your debts. And if you can’t pay, the IRS may be willing to settle for less than you owe.
In the event you receive an IRS LT11 (Final Notice of Intent to Levy), you may not have time to file for a hearing. A tax levy will be issued after 30 days if you don’t make payments. The time frame for this is limited. If you fail to pay, you’ll face an additional levy. If you ignore this letter, the IRS will pursue collection action against you, and you’ll end up with nothing but a hefty debt. If you don’t file your tax returns correctly, you could end up paying the IRS in full.
The IRS can levy almost anything – from bank accounts to bank accounts. But, unlike garnishments, levys are a last resort measure. A person may already have received numerous demands to pay their tax debt. The IRS does not like garnish bank accounts, but it may be your only option if you do not respond. Consequently, if you do nothing about the levy, you risk losing their home and your bank account.
Thankfully, there are steps you can take to avoid being imposed by the IRS. While it’s not ideal, it’s still better than facing a wage garnishment or wage levy. You can still negotiate a release with your employer to get the levy released before the next paycheck. If you do nothing, you’ll never see the money back. There are steps you can take to fight the levy.