The Internal Revenue Service is required to send a Notice of Intent to Levy prior to any effort to collect unpaid taxes. A tax levy is a powerful collection tool used by the IRS to compel taxpayers to take action to resolve tax debts owed to the IRS. In 2008, the IRS served over 2.6 million levy notices to third party custodians for delinquent taxpayer accounts.
No, IRS Publication 1494 provides a table for the amount of monthly income that is exempt from IRS confiscation to provide a minimal amount of income for monthly living expenses.
Absolutely, until the IRS tax problem is resolved the IRS will not stop, cease or desist in the collection efforts through notification to your employer to withhold taxes owed from your paycheck to resolve the unpaid taxes.
The levy source information comes from you, the taxpayer. The IRS has information you provided on your prior tax returns. Taxpayer information comes from the reported sources of income paid for your labor and services. The IRS has taxpayer information for wages paid which comes from W-2 and W-4 information submitted by your employer. The IRS has taxpayer information for income from self-employment from Form 1099 Income, Schedule C, Schedule E and K-1 tax reporting.
IRS contact in the workplace can be embarrassing and place additional administrative work for an employer who has to comply with IRS attempts to levy or garnish an employee’s paycheck. However, an employer is prohibited from terminating your employment as a result of the IRS demands.
After a review of your financial situation with a Fresh Start Tax Professional your situation may warrant an immediate release of your levy. This does not mean that you are not responsible for your taxes, however all taxpayers have rights and extreme duress is not the intention of the IRS tax collection process. Fresh Start Tax can help structure a resolution to your IRS tax problem based on your financial resources.
Taxpayers must have no unfiled tax returns and the necessary IRS forms completed which show your current financial situation with the necessary verifications sent to the right IRS representative. A Fresh Start Tax Professional has the experience to avoid delays from incomplete documentation and submission to the wrong IRS personnel.
For individuals who want personalized attention to every detail;
Professionals are able understand what the IRS is looking for to close a case. We help them get cases out of their inventory as soon as possible. An important part in dealing with the IRS is the packaging. We provide a package they can understand quickly which allows them to close the case with a favorable decision for the client. The reason for this is we do this day after day. If your car breaks down you might know what’s wrong, but unless you’re a mechanic you wouldn’t fix it yourself. Use a professional, find the right fee and pay them. You will be better off in the long run.