How to STOP a IRS Tax Levy – Former IRS Agent, Instructor 1-866-700-1040
I am a Former IRS Agent and Teaching Instructor with the Service. I can stop your IRS Tax Levy.
Call us today for a no cost consultation and hear the truth about your situation. We get results, 1-866-700-1040.
You can stop a IRS tax levy in its tracks. Whether the IRS filed a tax levy or you are in Notice or Letter status, a IRS tax levy can be either released, removed or the IRS tax levy may be stopped.
If you want to STOP a IRS levy you will need to take the following steps:
IRS must close your case off of the CADE 2 computer system and must have a method of closure.
There are 3 general closing methods and your current financial statement ( the IRS form 433A or 433F ) will determine how the IRS proceeds to close your case or stop the IRS tax levy.
You must make sure a tax professional prepares the financial statement so the IRS does not have there way with you. As a Former IRS agent I would love when taxpayers were not represented. the only way to make sure that the IRS is acting in good faith is to have a seasoned tax professional fight this.
To stop the IRS levy you must call IRS by the last date found on the L-1058 letter or notice. IRS will send the levy out at the end of the term of the L-1058.
If you have already been levied call us today and we can start the process of immediate levy removal.
Whether you have been levied or not you will need to proceed and do the following.
1. Make sure all tax returns are filed and up to date,
2. Prepare a 433F with all documentation and be prepared to fax that to the IRS.
3. Have a exist strategy. How are you going to deal with the IRS.
Options in closing your case with the IRS. After the IRS has reviewed your case the IRS will place your case in one of three closing modules.
1. a Tax Current Hardship,
2. an Installment Payment, or
3. consider a filing an offer in compromise.
Before the IRS can Levy they must:
IRS sends a series of Notices and Letters before they can legally send out a IRS Tax Levy.
IRS usually can only levy only after these three ( 3) requirements are met:
1. The IRS has assessed the tax and sent you a notice and demand for payment,
2. You the taxpayer or the representative have neglected or refused to pay the tax and,
3. The IRS sends 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.
Service of the Tax Levy Notice
IRS has options on method of service of a tax 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.
What is Tax Levy
A levy is a legal seizure of your property to satisfy a tax debt.
Tax Levies are different from liens.
A federal tax lien is a claim used as security for the tax debt, while a levy actually takes the property to satisfy the tax debt.
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 or example, the IRS can:
a. Seize and sell property that you hold (such as your car, boat, or house), or
b. The IRS 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 etc……
Other actions the IRS can take:
a. Filing a Notice of Federal Tax Lien,
b. Seize State Tax Refunds,
c. Offsetting a refund to which you are entitled.
What is a Federal Tax Lien
The federal tax lien is a legal claim to your property, including property that you acquire after the lien arises.
The federal tax lien arises automatically when you fail to pay in full the taxes you owe within ten days after we send our first notice of taxes owed and demand for payment, and we make an assessment of the tax.
The government also may file a Notice of Federal Tax Lien in the public records.
The Notice of Federal Tax Lien publicly notifies your creditors that the IRS has a claim against all your property, including property acquired by you after the Notice of Federal Tax Lien is filed.
The filing of a Notice of Federal Tax Lien will appear on your credit report and may harm your credit rating.
Once a federal tax lien arises, the IRS generally cannot release the lien until the taxes, penalties, interest, and recording fees are paid in full or until the IRS may no longer legally collect the tax.
How to STOP a IRS Tax Levy – Former IRS Agent, Instructor
Call us today to stop a IRS tax levy. 1-866-700-1040
