IRS Tax Levy Causing a Hardship – Call Former IRS Agents for Levy Help 1-866-700-1040
If the IRS has sent a tax levy on your bank account or on your wages call us today to get a quick resolution of your tax problem that is causing a financial and economic hardship.
We can get results if you are going through a tax hardship like millions of Americans. There is a very specific process to get your case accepted by the IRS.
IRS has provisions within the Internal Revenue Manual that can temporarily suspend your case or put YOU in a currently noncollectable file when conditions exist when taxpayers cannot pay their tax debt at the present time.
To Qualify for a Tax Hardship
To qualify for an economic tax hardship the taxpayer will have to fill out in IRS financial statement form 433-F.
IRS will ask that the financial statement be documented to prove all income and expenses in which the taxpayer now has, also provide the last three months based statements, copy of the last pay stub, and copies of all bills and receipts indicating those monthly bills are all currently being paid.
National and Regional Standards Test
After a carefully review with Internal Revenue Service will apply your income and expenses against the national and local expenses to ensure that the taxpayer is living within their means.
IRS will then make that determination and then release the IRS tax levy against a bank account or wages.
If you need any help from a tax professional that can assist in placing you in to hardship because of an IRS tax Levy call us today and you will speak directly to a tax professional.
What is in IRS tax Levy?
A levy is a legal seizure of your property to satisfy a tax debt. Levies are different from liens. A lien is a claim used as security for the tax debt, while a levy actually takes the property to satisfy the tax debt.
What other assets can IRS Seize
If you do not pay your taxes (or make arrangements to settle your debt), the IRS may seize and sell any type of real or personal property that you own or have an interest in. For instance,
IRS could also can seize and sell property that you hold (such as your car, boat, or house), or
We could levy property that is yours but is held by someone else (such as your wages, retirement accounts, dividends, bank accounts, licenses, rental income, accounts receivables, the cash loan value of your life insurance, or commissions).
Requirements before IRS can levy
IRS usually can levy only after these three requirements are met:
a. IRS assessed the tax and sent you a Notice and Demand for Payment;
b. You neglected or refused to pay the tax; and
c. IRS sent you a Final Notice of Intent to Levy and Notice of Your Right to A Hearing (levy notice) at least 30 days before the levy.
IRS may give you this notice in person, leave it at your home or your usual place of business, or send it to your last known address by certified or registered mail, return receipt requested.
Please note: if we levy your state tax refund, you may receive a Notice of Levy on Your State Tax Refund, Notice of Your Right to Hearing after the levy.
Hardship
If the IRS determines the levy is creating an immediate economic hardship, the levy may be released.
A levy release does not mean you are exempt from paying the balance.
The IRS will work with you to establish payment plans or take other steps to help you pay off the balance.
If you do not like the IRS decision
You may ask an IRS manager to review your case, or you may request a Collection Due Process hearing with the Office of Appeals by filing a request for a Collection Due Process hearing with the IRS office listed on your notice.
You must file your request within 30 days of the date on your notice.
Some of the issues you may discuss include:
1. You paid all you owed before we sent the levy notice,
2. The IRS assessed the tax and sent the levy notice when you were in bankruptcy, and subject to the automatic stay during bankruptcy,
3. The IRS made a procedural error in an assessment,
4. The time to collect the tax (called the statute of limitations) expired before we sent the levy notice,
5. You did not have an opportunity to dispute the assessed liability,
6. You wish to discuss the collection options, or
7. You wish to make a spousal defense.
At the conclusion of your hearing, the Office of Appeals will issue a determination.
You can also bring Suit
You will have 30 days after the determination date to bring a suit to contest the determination.
