When a person fails to pay his/her taxes, the IRS will issue a tax levy which is an official order from the IRS. In other words, it’s a legal directive issued by the government that states the taxpayers inability to pay their tax bills. This action is taken in order to collect the tax liability. A tax levy is often accompanied by civil action brought by the IRS.
A tax levy is a lawful seizure of a taxpayer’s property to settle a tax owed. A tax levy involves a taking of the property to pay off tax debt owed by an individual. The property at this instance may consist of cars, boats, homes, account checks, accounts receivable, tax refunds, social security, property taxes and more. If you are a victim of a levy you have the right to hire a Denver tax levy attorney. Such an attorney can help to negotiate with the IRS in order to either have the levy dismissed or at least reduce the amount of money recovered.
A bank seize is also another example of a levy. A bank seize involves a bank sending a lien against a home or other property to satisfy the debt of someone who owes money to the bank. Once a bank account has been seized, it cannot be accessed by the homeowner without first obtaining an IRS permission. A Denver tax levy attorney may be able to negotiate terms with the IRS in order to have the bank account released if it is only for the agreed period of time or in lieu of the full amount due. If you are seeking a skilled tax law attorney in Denver, there are several options. First, you can locate local Denver lawyers by consulting your local telephone directory or by visiting www.coloradotaxattorneys.net/tax-levy-lawyer-denver-co/.
Wage garnishment is another case in which professional assistance may prove helpful. Wage garnishment is the process of the Internal Revenue Service demanding that someone’s wages be garnished. If the recipient of this measure doesn’t have the money needed to pay the tax owed in a specified period of time the government can legally take the wages out of the person’s paycheck. If this happens the wage garnishment becomes permanent. This is why it is important to hire a qualified tax levy attorney to prevent wage garnishment from becoming permanent.
When a taxpayer cannot afford to pay his/her taxes a tax levy attorney could release the property for a payment plan. The tax lawyer would work with the taxpayer and the IRS in order to reach an arrangement that would pay the debt in the long term and avoid any collections efforts. In cases where the IRS lacks sufficient evidence to take a certain property, a lawyer might be able to negotiate a payment plan that keeps the property away from the IRS for a short period of time. This is done in order to prevent the agency from pursuing collections efforts. If a compromise is reached and the property is returned to the taxpayer the IRS would not be able to pursue the property. The hope is that the property will eventually return to the taxpayer.
Tax levy attorneys can be a big help for taxpayers that have received a notice of potential wage garnishment. They can help to determine if the action is warranted, whether there are valid defenses, and what course of action should be taken next. Taxpayers shouldn’t sit back and wait for the IRS to respond to their problems. They need to hire professional tax professionals in order to deal with their problems effectively.