Tax Levy
- Tax Problem
- Tax Levy
Tax Levy: Federal and State
A tax levy is a legal seizure of property by the IRS or state taxing authorities. This can include taking your wages, bank accounts, or other assets.
Typically, a tax levy only comes after back taxes have fallen into arrears and the taxpayer has not entered into an agreement with the IRS or state to resolve the debt.
Many taxpayers discover that they are facing a tax levy when their wages are garnished, or money is taken from their bank account. Prompt action must be taken to resolve this situation, and OnGuard Tax can help.
Federal and State Tax Levy Information
Generally speaking, the easiest way to resolve your tax levy issue is to pay the amount owed in full or to enter into a payment arrangement with the IRS or state, such as an Installment Agreement or Offer in Compromise. Your tax levy can also be resolved if the IRS or state determines you are experiencing economic hardship or if your debt is no longer collectible due to statute expiration.
You don’t have to deal with tax levies alone. The team at OnGuard Tax is here to help restore your peace of mind and put you on the path to financial recovery from your back tax problem.
Call us today for a free consultation and to get more information about federal and state tax problems and tax relief.
How to Stop a Tax Levy
Generally speaking, the easiest way to resolve your tax levy issue is to pay the amount owed in full or to enter into a payment arrangement with the IRS or state, such as an Installment Agreement or Offer in Compromise. Your tax levy can also be resolved if the IRS or state determines you are experiencing economic hardship or if your debt is no longer collectible due to statute expiration.
You don’t have to deal with tax levies alone. The team at OnGuard Tax is here to help restore your peace of mind and put you on the path to financial recovery from your back tax problem.
Call us today for a free consultation and to get more information about federal and state tax problems and tax relief.