What You Need To Know About an IRS Tax Levy

January 31, 2020
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If you owe money to the IRS, a tax levy is one of the main tax problems you could face. To best deal with this and other IRS tax problems, knowledge is gold. The first step we suggest taking is learning everything about tax levies. This will enable you to move forward with the best resolution for your IRS tax problems. In this blog, we delve into everything you need to know about IRS tax levies, including how they can affect you.

What is a tax levy?

Tax levies are one of the most undesirable IRS tax problems any taxpayer may have to deal with. What a tax levy does is seize your property or assets to pay off your tax debt. Tax levies don’t just target real estate, they can target your employer for wages and your bank accounts are also fair game. This is why understanding how to avoid and deal with a tax levy is so important.

Related Blog: A Brief Guide on How to Stop an IRS Levy

How do you know if an IRS Levy Is Coming Your Way?

Fortunately, getting caught off-guard by a tax levy is unlikely to happen. Before you worry about a tax levy, the IRS typically takes action through a tax lien. A tax lien allows the IRS to take claim over your property, without actually seizing it. At this stage, you can seek IRS problems help through a tax expert and get rid of the lien. This can prevent you from actually having your assets seized.

How can a tax levy affect you?

A tax levy can result in the seizing of your home. This is the most extreme action the IRS can take rather than the norm, though. However, it does happen, so you should be aware of the possibility. Additionally, a tax levy can significantly reduce your salary by collecting debt directly from your paycheck. If the IRS decides to freeze your bank accounts, your finances can be affected further.

Solving IRS Tax Problems: How Can You Get Rid Of A Tax Levy?

There are many ways to approach your IRS tax problems. Yet, the most effective one will always be to pay your tax debt in full. If this is a possibility for you, payment can save you from tax liens and levies. Other IRS problem resolutions include payment plans, applying for an Offer In Compromise, and filing for an appeal. In some cases, filing for bankruptcy is also a choice to consider. Which option is best for you? This is a question that can best be answered by a tax law attorney. Tax law experts will help you determine a course of action and take you every step of the way.

Last words

Are you worried about a tax levy or other IRS tax problems? Stop worrying and take action! The best thing you can do is seek help from a tax law professional early on. This way you can start working towards an IRS problem resolution promptly and boost your chance for success. Tax attorneys at Nick Nemeth’s office are not only qualified but experienced at solving IRS tax problems daily. Get the help you need by calling us at (972) 426-2553 for a free consultation!

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19:13 02 May 24

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Great attorney who was able to provide quick and useful advice. Although my situation did not warrant their services, they still took the time to discuss solutions I could explore. I highly recommend visiting this office!

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Very professional and very knowledgeable, Jamie Flores was very straight forward and professional, a firm that doesn’t just take your money, Thanks

Carla Atwal

10:52 02 Apr 24

Nick was wonderful in guiding me with direction on some tax questions I had. He was concise, and to the point, and was happy to provide general info to me at no charge. I truly appreciate him and would highly recommend him.

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15:56 25 Mar 24

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Lucy Foy

06:55 19 Jan 24

My first appointment I had with, Tax Attorney Nick Nemeth, gave me such a sense of relief. He listened and gave me his professional advice, Mr Nemeth took my case. I was well kept updated, by phone calls and letters. That really impressed me and gave me so much confidence in them. The case went on for a couple of months. The day I received the call from one of his team members Kyle, informing me that the case was resolved and that I owed absolutely nothing to the IRS, I was overwhelmed with joy. I would recommend this law firm to anyone that needs help, with any tax issue. Thank you, to the Law Firm of Attorney Nick Nemeth and his team.

Bradley Runyon

20:17 13 Jan 24

I received a tax bill in the mail from the IRS last year in 2023. The fees and penalties I owed were something I myself could not afford. I reached out to Nick Nemeth's firm and received the best experience you could imagine. The team was professional, educational, and fast. If you have a tax issue with the IRS using another firm other than Nick Nemeth's would be an error in judgment. I would recommend their services above others.

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19:55 11 Jan 24

Working with Nick Nemeth and his team to resolve my debt with the IRS was the best decision I could have made. I felt such relief knowing I didn’t have to deal with the IRS myself. They did a wonderful job and were responsive to my questions and kept me abreast of my case. My outcome was exactly what I was hoping for. I strongly recommend using them if you have an issue to resolve with the IRS.

R G

20:53 21 Dec 23

I had an incompetent tax preparer, who also ignored several notices from the IRS, which in the end resulted in a lien on my property. I did not know what to do and an attorney friend recommended that I contact the Nick Nemeth Law Offices. I met with Jamie Flores and Ivan Nalbantov in December 2021 for a free consultation, and right away was impressed by their thorough examination of my paperwork and extensive knowledge of IRS tax laws. I felt not pressured and appreciated their advice and in the end decided that I would pursue resolving the issue by myself. I paid the IRS Civil Penalty and, as recommended also submitted a letter to the IRS requesting a refund and explaining what happened. I am glad to report that my persistence finally paid off. My case took two years to resolve and I finally received a full abatement/refund check from the IRS in December 2023. I could not have done this without the straightforward recommendation of Jamie and Ivan; and I highly recommend the Nick Nemeth Law Offices to anyone needing help with the IRS.

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03:27 25 Jan 23

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Sarah Howard

03:44 14 Nov 22

I would like to thank Mr. Nick and his staff for the superb help that I received from them. My IRS problem was resolved quickly and efficiently. It took 2 visits to convince me that I was over my head. I thought that I could call the IRS, appeal my tax notices and settle on a payment plan on my own. After many phone calls to the IRS, waiting sometimes more than 4 hours with no resolution to speak of, it proved to be extremely difficult and stressful. Revisiting Mr. Nick was a huge wake up call. My account was reviewed, and a payment plan was established with the IRS within a week. I will be forever grateful to the staff who worked on my case and especially to Lorna who listened to me vent while going through this painful process.

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00:33 07 Aug 22

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What is a tax levy?

How do you know if an IRS Levy Is Coming Your Way?

How can a tax levy affect you?

Solving IRS Tax Problems: How Can You Get Rid Of A Tax Levy?

Last words

What Our Clients Have to Say

Proud to have received
“IRS Tax Lawyer of The Year, USA"
at FM Taxation Awards 2024

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Email

What is a tax levy?

How do you know if an IRS Levy Is Coming Your Way?

How can a tax levy affect you?

Solving IRS Tax Problems: How Can You Get Rid Of A Tax Levy?

Last words

What Our Clients Have to Say

Proud to have received “IRS Tax Lawyer of The Year, USA" at FM Taxation Awards 2024

Proud to have received
“IRS Tax Lawyer of The Year, USA"
at FM Taxation Awards 2024