What is an IRS levy?

A levy is simply an IRS seizure of a taxpayer’s assets to repay the delinquent taxes. When an individual owes the IRS past due taxes, if left unresolved over time the IRS will attempt to collect payment through levies. A levy is most commonly issued to the individual’s bank account but can also be issued in the form of a wage garnishment or Social Security garnishment. In this instance, your employer will be notified of your IRS situation and will be required to withhold a large portion of your paycheck to be paid to the IRS.

How to prevent levies?

The best way to resolve a levy if to never receive one to begin with. Starting with the first contact with the IRS, Tabb & Associates will immediately put a stop to IRS Collections including levies. Depending on the facts of each taxpayer’s case, there are many different methods available to stop IRS Collections including setting up a quick resolution, securing an extension or filing an appeal with IRS Appeals to block IRS Collections from issuing levies. Tabb & Associates’ over 10 years of experience assisting clients with IRS Collections ensures that each client’s individual needs are met and that they will remain protected from levies while a permanent solution their back taxes is secured.

What do I do once a levy has been issues?

It is never welcome news that a levy has been issued to your bank account or to your customers however there are numerous methods by which Tabb & Associates can secure a partial or even full levy release from the IRS. Either by displaying a financial hardship, negotiating an alternate resolution, proving that the IRS overstepped its bounds or other method, we will exhaust every option to get your assets released from the IRS levy.