Think a lien or levy is no big deal? Think again. While a lien is a claim to property that provides security for an outstanding tax debt, a levy is the actual seizure of the property.
The IRS has the power to levy property of all shapes and sizes, including:
- Bank accounts
- Rental income
- And more
In terms of tangible property, once seized, the IRS can resell cars, boats, homes, and more, potentially taking them out of your reach forever.
If you have received notice of an impending tax levy, act now. Quick action can make a dramatic difference in your ability to stop or release the levy, securing your property. Depending on your financial status and tax situation, there are a number of strategies for dealing with tax levies: At Taxation Solutions, Inc., we can help you take the right tack to get the most effective solution.
Remember, while it may not feel like it right now, the IRS would rather you resolve your tax debts and problems than put a levy on your bank accounts, wages, or property. The professionals at Taxation Solutions, Inc. can work with the IRS to negotiate the best possible outcome and end your bank levy problems. Don’t hesitate to call in our experts right away!