An IRS Levy is the action taken by the IRS to collect taxes by seizure. For example, the IRS can issue a bank levy to obtain your cash in savings and checking accounts. Or the IRS can levy your wages or accounts receivable. The person, company, or institution that is served the levy must comply or face their own IRS problems. The additional paperwork this person, company, or institution is faced with to comply with the levy usually causes the taxpayer’s relationship to suffer with the person being levied. A levy can also be issued to seize other assets. Levies should be avoided at all costs and are usually the result of poor or no communication with the IRS.
The IRS has the power to take a portion of your weekly, bi-weekly or monthly paycheck without any consideration to how you’ll pay your bills with the money left over. The IRS wage garnishment is a very powerful tool used to collect taxes owed through your employer. Once a wage garnishment is filed with an employer, the employer is required to collect a large percentage of each paycheck. The paycheck that would have otherwise been paid to the employee will now be paid to the IRS. Your employer must adhere to the IRS’ demand or they can get in trouble themselves – including major fines.The wage garnishment stays in effect until the IRS is fully paid or until the IRS agrees to release the garnishment. We can assist with getting the garnishment released so your paycheck goes to you and not to the IRS!If the IRS has threatened to garnish your wages or has already implemented a wage levy, contact us immediately for assistance.
A Lien is filed by the IRS on your home or other assets that you have now, as well as future assets you acquire during the duration of the lien. Liens are filed to protect the government’s interests. If you then sell an asset with a Lien attached, the IRS tax debt is settled with the proceeds before you receive the remainder (if any). This also affects your Credit, since it becomes public record, affects your credit report, and will affect your ability to get credit. Even if you file for bankruptcy, your lien may continue after the bankruptcy.
Every day the massive computer center at the IRS is getting more sophisticated, it’s just a matter of time before they catch up with you.Failing to file your tax returns is considered a criminal offense. If you do not file, you can be prosecuted and punished with potential jail time, one year for each year not filed. Why risk potentially losing your freedom for failing to file your tax returns?We can help! Let us give you the peace of mind you deserve by helping you get in compliance with the law. If you voluntarily file your delinquent returns you’ll likely avoid further problems other than having to pay the interest and penalties.If you wait for the IRS to file your returns for you, they are filed in the best interest of the government, usually with none of the deductions you are entitled to.
When you owe back taxes, IRS collection action can be swift and decisive. The longer you wait to file or pay, the greater your chances to see a wage garnishment, a bank levy, or any other type of tax levy and even a federal tax lien from the IRS. If you have an unpaid liability, you’ll receive an official notice requesting immediate payment. Whether you opt to pay back taxes online or through the mail, you’ll want to take care of your tax debt as quickly as possible.

If you own a business and have employees, you are probably all too familiar with the issues regarding calculating and paying payroll taxes. With all of the federal and state calculations for payroll taxes, it can be confusing to figure out how much to pay, how often to pay it and what to do if you find yourself in a situation where you can’t pay.

Many businesses either fail to calculate the correct amount of payroll taxes or fail to get their payroll taxes completed in a timely fashion. This leads to penalties, interest accruals and eventually, an unmanageable situation of business tax debt.

In addition to it being easy for a business owner to miscalculate or miss payments for payroll taxes, the state or IRS may not notice the problem for months or even years. Over that time, penalties and interest accrue while debt grows to the point that it becomes difficult to pay the taxes, penalties and interest in full.

If you are behind on paying payroll taxes for your company, WATCH OUT! The IRS is extremely aggressive pursuing collection of this type of tax. They would rather seize your business assets, close you down, sell your assets at auction, and put you out of business than allow you to continue amassing additional payroll tax liabilities.

If you are behind on your payroll taxes, DO NOT meet with the IRS on your own. How you answer their initial questions can determine whether you stay in business or not. It is critical you hire a professional representative who knows how the IRS operates.