Sandy Springs Tax Levy Lawyer
If the Internal Revenue Service (IRS) no longer sees another way of getting paid, they can put a levy on your properties and take them as payment for your tax debts. This can make you lose your house, car, or even a great portion of your wages.
Fortunately, there is still a way to prevent the IRS from seizing your assets. As soon as you receive the Final Notice of Intent to Levy, or even long before that, call our Sandy Springs, SC tax levy lawyer right away!
Defense Tax Partners has already helped countless taxpayers in protecting their assets. Regardless of what form of tax levy the IRS will impose on you, we can help you put a stop to it and negotiate for a settlement instead. Depending on your financial capacity, we can get you an installment plan, apply for an offer in compromise, or utilize other options to resolve your debt.
Keep in mind that after receiving the final notice, you only have 30 days to act before the IRS starts taking your properties. Don’t waste valuable time and work with an expert tax levy lawyer now.
Call Defense Tax Partners at (803) 258-6729 for your Free Consultation with a Sandy Springs Tax Levy Lawyer!
What is a Tax Levy?
The IRS might resort to imposing a tax levy on your properties in an effort to satisfy your outstanding tax debts. This happens if you don’t fully pay your tax debts after a long time, or you fail to at least enter into a settlement agreement with the IRS.
A tax levy is generally processed as follows:
1. Your tax debt will be assessed by the IRS.
2. You will then receive your tax bill or the Notice and Demand for Payment.
3. If you don’t pay or negotiate for a settlement plan with the IRS, you will receive the Final Notice of Intent to Levy and Notice of Your Right to A Hearing.
4. You will then have 30 days to pay or reach a settlement with the IRS. Failure to do so will allow the IRS to initiate the levy on your properties.
As long as it pays for your overall tax liabilities, the IRS can take all the properties that they need. Included in the forms of tax levies that they can impose are the following:
Bank Levies
Your bank will be contacted by the IRS and will be required to transfer your funds as tax debt payment. However, you will be given a 21-day grace period. You can still look for another way to pay or negotiate a settlement. Note, though, that your bank account is frozen during these 21 days.
After the grace period and there is no payment or settlement, your bank will transfer the required amount to the IRS. If you don’t have enough money to fully pay your liabilities, the IRS will repeat the process until the debt is fully covered.
Property Seizure
All your properties that the IRS deems worthy of being levied can be taken as a form of payment. These include your cars, house, or even properties that are held by someone else, such as your retirement accounts, dividends, licenses, rental income, accounts receivables, and the cash loan value of your life insurance.
Reduced Tax Refunds
If you are receiving federal or state tax refunds, but you also have an outstanding tax liability, the IRS can keep all or part of these refunds as payment.
Wage Garnishment
The IRS can also collect payment through your wages by requiring your employer to withhold a certain percentage of what you’re supposed to get. This will only leave you enough money to cater to your and your family’s daily necessities.
The garnishment will only stop if your debt is fully paid, you entered an installment plan, or the statute of limitations for your tax debt collection is already over.
Preventing a Tax Levy
Paying your tax debts is the best way of preventing the IRS from seizing your properties. After all, the only goal of a tax levy is to satisfy your outstanding liabilities. However, Defense Tax Partners understands that this can be easier said than done.
To help you settle your tax debts and prevent the IRS from initiating a levy, our Sandy Springs tax levy lawyer will guide you in applying for the most suitable tax debt relief program for your case.
Your debt relief options include:
1. Offer in Compromise
2. Installment Plans
3. Innocent Spouse Relief
4. Currently Not Collectible (CNC) Status
Additionally, even if the IRS already initiated the tax levy, there is still a way of keeping your assets. We can help you file an appeal and establish that the levy or your current status puts you in genuine financial hardship. We will then proceed to offer a payment plan with the IRS, ideally with manageable monthly installments that won’t pose too much difficulty on you.
Professional Legal Representation
Knowing that your properties are about to be taken away can be scary. Fortunately, there’s no case too complicated for our Sandy Springs tax levy lawyer to handle. Although it is best to contact us as early as receiving the Notice and Demand for Payment, we can still help you stop the levy after the final notice.
We will thoroughly assess your situation and negotiate with the IRS with your interests in mind. We will make sure that you will have a settlement agreement that will let you keep your assets and reduce your debts or required monthly payments.
Even better, our legal services also cover the following tax-related issues and more:
1. Tax Resolution
2. Offer in Compromise
3. Wage Garnishment Removal
4. Penalty Abatement
5. Bank Levy Removal
6. Innocent Spouse Relief
7. Audit Representation
8. Passport Reinstatement
9. Tax Preparation
10. Tax Lien Removal
Regardless of how complicated your case is or how much money’s at stake, our tax lawyers will proactively represent and defend you if necessary. From simply preparing your tax returns to putting together a defense strategy against a tax fraud case, Defense Tax Partners can give you the best legal service you can hope for.
Let’s Talk Now – Free Consultation
A prompt response is crucial when it comes to dealing with tax levies.
Before the IRS starts taking your properties and asking you to move out of your house, ask an expert about what you can do to mitigate the situation.
Let us help you settle your tax debts and prevent the IRS from levying your assets!
Call Defense Tax Partners at (803) 258-6729 for your Free Consultation with a Sandy Springs Tax Levy Lawyer!