If you owe taxes to the IRS, the IRS may be able to seize your assets by force to pay the tax liability. The Internal Revenue Service can seize bank accounts, automobiles, and even real property.
When the IRS wants to seize property it must first send a final notice of intent to levy and notice of your right to a hearing at least 30 days before the proposed levy. This notice gives you the right to request a hearing with IRS appeals to challenge the levy. You may be able to agree to a payment plan with the IRS or even have your tax debt reduced based on your inability to pay.
The IRS will release a levy if the taxes paid, the terms of an agreement are satisfied, or the time for legally collecting the tax expires. The IRS also must release a levy if the levy causes you to be unable to pay your basic living expenses.
If you are facing IRS collection action, call our office. We understand the federal tax laws and can help you find a favorable resolution.
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