If you are under threat of an IRS levy or wage garnishment, you deserve experienced legal counsel.
When an individual or business taxpayer owes outstanding payment to the IRS, and fails to comply with their initial correspondence, the IRS may issue a Notice of Intent to recover the funds owed. The IRS may levy your bank accounts or accounts receivable. A bank levy is a one-time taxation of whatever funds are in your accounts on the day that the levy is filed. These funds are allocated to the IRS, and generally do not affect any future deposits you have coming to your accounts, unless the IRS files another levy.
When an individual or business taxpayer owes outstanding payment to the IRS, and fails to comply with their initial correspondence, the IRS may issue a Notice of Intent to recover the funds owed. The IRS may levy your bank accounts or accounts receivable. A bank levy is a one-time taxation of whatever funds are in your accounts on the day that the levy is filed. These funds are allocated to the IRS, and generally do not affect any future deposits you have coming to your accounts, unless the IRS files another levy.
On the other hand, a Wage Garnishment is another way that the IRS can forcibly take money that is owed to them, and is often “continuing” or is an ongoing process. A wage garnishment is filed with your employer, and monies can be regularly taken out of your paychecks until the IRS lifts the garnishment, often putting you into a stressful and compromised financial position.
If you are under threat of an IRS levy or wage garnishment, you deserve experienced legal counsel and representation. Thankfully, the Tax Solutions Attorneys are here to help you help you wherever you are located in the US. Get in touch with our firm today and ask for your free initial consultation!
Get Your Free Consultation Today (801) 643-5467
If you are under threat of an IRS levy or wage garnishment, you deserve experienced legal counsel and representation. Thankfully, the Tax Solutions Attorneys are here to help you help you wherever you are located in the US. Get in touch with our firm today and ask for your free initial consultation!