Once a tax liability is assessed, a taxpayer may be subject to an IRS levy if there is a failure to pay taxes. A levy authorizes the Internal Revenue Service (IRS) to seize physical property, garnish wages, and seize bank funds to collect tax liability. These levies can be avoided or even reversed, depending on the situation. There are options!

These options allow an Orlando IRS levy lawyer to help protect your assets and wages. If the IRS has recently threatened to impose a levy, or if the seizures have already begun, reach out to a knowledgeable IRS collections attorney to see how we might be able to help.

The Legal Basis for an IRS Levy

The Federal government has broad and powerful levy powers to enforce the collection of tax after tax has been assessed and not paid. Internal Revenue Code Section 6331 is one such statute that gives the government this authority. The IRS can levy bank accounts, retirement accounts, wages, and even tangible personal or business property, including inventory.

A levy does not usually happen right away (as in the rare case of a jeopardy levy). There are notice requirements, as well as “Collection Due Process” rights, that must be met first before the IRS can take levy action. After the initial notice and demand for payment and reminder notice, the IRS also sends initial “Notice of Intent to Levy” letters. These are typically notice numbers CP504. The IRS will also typically send a second “Notice of Intent to Levy” letter or CP504B. Finally, the IRS will send out a “Final Notice of Intent to Levy” letter with collection due process rights. This is typically notice number LT11. An LT 11 or final Collection Due Process (also known as CDP letter or 30-day letter) gives the taxpayer or their representative 30 days to file a request for appeals.

Filing the request prevents levy and buys time to review information to resolve the case and seek a collection alternative such as an Installment Agreement, Currently Not Collectable Status, or Offer in Compromise. It also will lead to a passport revocation reversal code.

It is best to contact an Orlando Tax Law attorney as soon as you owe tax and know that you cannot pay it. You should contact an Orlando IRS attorney as soon as you receive any IRS notice. The more time we have to prepare your case for resolution, the better chance you have at a better resolution without the worry of levy.

Taxpayers Options After Levy

If your bank account has been levied or your wages garnished, or if your business has been levied, please contact us right away. There is a chance we can get the levy reversed in part or in full. Not only can we potentially get all or part of your money back, but we can also resolve your case, such that levy action is avoided in the future.

Contact an Orlando IRS Levy Attorney Now

IRS levies are serious legal issues that could cause you to lose a significant portion of your assets or income. The IRS has broad powers to directly seize property to collect on an overdue tax bill.

An Orlando IRS levy lawyer could help you fight to keep your assets or get them back. Reach out to us now to see how we could help you.

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