When the IRS gets you with a levy, bad things can happen – your wages are frozen and you are looking at living without a paycheck. The money you need to pay bills is suddenly swiped out of your bank account. This presents an urgent dilemma requiring immediate relief. So, what are the two quickest [...]
IRS Seizures
Here is a practical question from a reader about a concern of everyday living – IRS seizure of your car to pay your tax debt. If I own a free and clear vehicle that is ten years old and has 115k miles on it, and it is worth 4,000. Will it be seized if the [...]
Here is an issue to be aware of before filing a Chapter 7 bankruptcy on the IRS: I just completed a Chapter 7 bankruptcy. It was determined to be a no-asset case. A few months later, I got a letter from an IRS Revenue Officer stating that even though the taxes were discharged, they are [...]
My clients with IRS collection problem come to me with different ideas about what will happen to them because they did not pay their taxes. Is the IRS going to show up one day and seize my house? Levy on my income so I cannot provide for my family? Shut down my business? When do [...]
If you owe the IRS back taxes, the IRS is required to give you a 30 day notice before they can start to levy and seize your property. This warning of levy action is required by law (Section 6330 of the Internal Revenue Code). The final IRS warning letter will have the words “Final Notice [...]
As a member of the Cincinnati Bar Association, it was exciting to see my article about solutions to today’s IRS collection problems as the cover story in March’s monthly bar journal. Here is a brief overview of the article - 5 Things You Should Know About the IRS: (1) The offer in compromise program is not as advertised on television. (2) IRS seizures [...]
