Florida & IRS Bank Levy Attorney
The Internal Revenue Service (IRS) is a large and powerful government agency. Responsible for all things related to taxes, an attempt to evade the IRS by not paying owed taxes, or not reporting income, will likely not turn out well. However, often times tax errors are made as a result of a valid error or misunderstanding, and the individual is unaware that they have withheld IRS income.
If you owe money to the IRS, whether as an individual or as the owner of a business, the IRS will do everything in its power to recover that income. One thing that the IRS may do is to issue a levy against you. If you have unpaid back taxes and the IRS is threatening action against you, contact the Florida bank levy attorneys of Ronald Cutler, P.A. for tax help immediately.
What Is an IRS Levy?
A levy is the legal seizure of your property in order to pay back taxes owed to the IRS and satisfy your debt. The IRS explains that a levy is different from a lien in that the former actually takes the property to satisfy the debt, while the latter is simply a legal claim against the property to secure payment of debt. Any property that belongs to you – the taxpayer – may be levied by the IRS in order to pay back debt. The IRS may levy property that is actually yours – like your house – or property that is yours, but is currently being held by someone else, such as your wages or money in a retirement account.
How Does the Levy Process Work?
The good news is that as an individual who is delinquent on your taxes, the levy process will not begin without warning. Before any of your personal property is seized, you will receive adequate notice. The steps of the levy process include:
- Receipt of notice from the IRS explaining how much you owe in taxes, including any penalties, late fees, or assessed interest, and when it is due;
- Receipt of notice that the IRS has requested payment, but that you have refused to pay the tax; and
- Receipt of “final notice,” which must be sent by the IRS at least 30 days before any property seizure occurs.
What Can I Do to Avoid a Levy?
The prospect of a levy is scary – no one wants to deal with having their property or wages seized. Luckily, there are ways that you can avoid a levy, including establishing a payment plan, settling your debt, and more.
Most people do not just choose to not pay their taxes; usually, they do not have the money to pay or they made a filing error and simply do not understand their tax liability. At the law offices of Ronald Cutler, P.A., our experienced Florida bank levy attorney will work with you help you understand your options when you are facing an IRS levy.
We serve cities nationwide, but our main office is in Daytona Beach. If you are not available to meet with us during the week, we have after hours and weekend appointments available. Start with a free case consultation by calling 386-490-9949 today.