Levies & Garnishments

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What is a Levy or Garnishment?

A levy is the IRS’s way of getting your immediate attention and recovering tax debts. A levy or garnishment happens when the IRS has tried to communicate with you, but you have ignored the IRS or did not receive their many communications. Unfortunately, though the IRS can seize your assets. That’s right: if you own it, they can take it. That includes bank accounts, autos, stocks, bonds, boats, pension checks, paychecks, and even Social Security checks!

Act Immediately

There are several actions you should take immediately:

  1.  Determine whether the levy or garnishment is coming from the IRS or another government authority
  2.  If you have received a notice of the levy, verify that the property being levied belongs to you
  3.  Determine if it’s in your best interest to waive the 21-day hold period
  4.  Get copies of IRS transcripts and compare with any available IRS correspondences
  5.  Verify that the IRS followed proper collections process
  6.  Resolve any outstanding tax debts

Get Levy Released

Depending on the facts of your case, it may be in your best interest to either appeal the levy, submit an Offer-in-Compromise, enter into an Installment Agreement, or a mixture of these options.

  • Collection Appeal Request: Verify that the IRS sent all required notifications on time and to the proper address. We also want to look at whether the levy creates an economic hardship
  • Offer-in-Compromise: Analyze your extent of liability and your ability to pay and offer an amount less than what you owe.
  • Installment Agreement: Agree to the assessed balance due and make scheduled payments to satisfy the balance due. We may be able to get the levy released before your balance is paid off!