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Affordable Tax Solutions and Remedies
If you are currently dealing with the Internal Revenue Service and need immediate and permanent tax resolution contact us today and we can get your IRS tax levy or wage garnishment levy removed once and for all.
We can not only get your IRS tax Levy or wage garnishment levy removed we can also settle your case with the Internal Revenue Service at the same time.
We have worked hundreds and hundreds of cases right here in South Florida and are one of the most experience in seasons tax firms in Fort Lauderdale and Miami.
We are one of the most affordable choices for South Florida and have been in practice right here since 1982. We are A+ rated by the Better Business Bureau.
You need help dealing with a IRS Tax Levy or Wage Garnishment, contact Former IRS Agents today who know the remedies of relief.
Dealing with a IRS Tax Levy, Wage Garnishment, Tax Liens
Being a former IRS agents we have learned that most taxpayers fear getting an IRS tax Levy, a wage garnishment or have a federal tax lien filed against them.
Many taxpayers simply do not know what to do to avoid this IRS enforcement action.
But steps may be taken to avoid the IRS tax Levy, wage garnishment, and the filing of the federal tax lien.
Quick Tax Facts
The IRS files 2.8 million tax levies and wage garnishments each and every year,
The IRS files 920,000 federal tax liens each and every year,
The IRS settles 38% of all the cases they receive through the offer in compromise process
If federal debts go on pay the Internal Revenue Service will issue levies on bank accounts and on wages. There is a process that must take place before IRS can issue these enforcement procedures.
The IRS Process – Collection Action for Enforcement – IRS Tax Levy, Wage Garnishment Levy
For the IRS to proceed with any enforcement action the IRS is required by law to provide the taxpayer with:
1. Notice and demand for payment,
2. Notice of intent to levy,
3. Notice of a right to a Collection Due Process hearing,
The IRS accomplishes these requirements by sending a series of five letters, starting about six weeks after the taxpayer files a return. IRS works on a cycle system.
One week is one cycle. IRS may skip the cycles on repeated delinquents.
These tax notices are sent from there Cade 2 computer.
The five letters are sent by the to as the automated collection or ASC.
IRS collection notice stream cycle,
1.CP14,
2.CP501,
3.CP503,
4.CP504, and
5. L1058/LT11).
Should the taxpayer receive the last notice and does not pay the balance or make other arrangements to pay the balance, the IRS can levy the taxpayer’s income and assets, including garnishing wages and or self-employment income and seizing funds in bank accounts. These levy’s are on tax form, 668A, 668W.
Please note:
On all bank levies and there is a 21 when day freeze on your money. IRS gives taxpayers 21 days to get the levy lifted.
The IRS wage garnishment’s are immediate seizures and the money will be sent to IRS on your next paycheck.It is very important you contact IRS the day you get the wage garnishment.
How to Immediately Avoid an IRS Levy
If you know the balance is due and owing, it’s best to call the Internal Revenue Service and walk through the process of obtaining a settlement. Call the number on your notice or a tax professional like our firm. We can help you immediately.
When calling the IRS to avoid a tax levy or Wage Garnishment, the IRS will want a current financial.
IRS will want a collection information statement or financial statement. You can find that form on our website. They are usually on form 433-F or a 433A.
After you complete the form you will need to sent or fax to the IRS a copy of completed form along with your income verification (pay stubs) expenses, copy your bank statements, and verification of all monthly and installment expenses.
The IRS will carefully review the statement before reaching a conclusion.
Key Tip:
I recommend that all taxpayers call the IRS and have a fax machine nearby. If IRS has already issued the IRS tax Levy or notice of wage garnishment and they receive a fully completed financial statement along with all documentation they can release the tax levy and wage garnishment that day.
Note – The IRS will compare that financial statement against the national and regional expenses in your area and apply the national standards test to your financial statement. The National Standards are on our site as well.
It is best to contact a professional tax firm to make sure your financial statement is correct and you get the very best deal possible.
After the review of your financial statement the IRS will place you in one of three categories.
They have the option of placing you into a:
1. Current Hardship,
2. Installment Agreements/Payment Agreement,
3. Have you Filing an Offer in Compromise.
One simple, common solution is an extension of time to pay the balance in full.
IRS extensions allow you up to 120 days to pay the balance and avoid a levy.
What about a Tax Settlement called the Offer in Compromise
The IRS offer in compromise (OIC) is a collection alternative that settles a taxpayer’s tax debt for less than the amount owed, and it also suspends levy actions.
It’s important to note that if the IRS determines that you are purposely delaying the collection process, the IRS can use liens and/or levies even while it considers your request for a collection alternative.
It is critical you file all your back tax returns and make sure your courage on your withholding or estimated tax payments.
IRS Tax Lien vs. IRS Tax Levy, these are always mixed up.
A lien is not a levy.
A lien secures the government’s interest in your property when you don’t pay your tax debt. A levy actually takes the property to pay the tax debt.
If you don’t pay or make arrangements to settle your tax debt, the IRS can levy, seize and sell any type of real or personal property that you own or have an interest in.
If you live in the South Florida area contact us today and we can give you the help you need to get your IRS tax levy or wage garnishment levy removed and released.
Help getting IRS Tax Levy, Wage Garnishment Levy Removed – Ft.Lauderdale, Miami