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Category: Tax Levy

What If the IRS Sends a Notice of Intent to Levy?

9 June, 2024 | Tax Levy

What to Expect from an IRS Notice of Intent to Levy Meeting your tax obligations each year is hard enough. What if you start receiving notices from the IRS? This may happen if you make a mistake on your return or you can’t afford to pay your tax debt. Whatever the reason, IRS notices need to be taken seriously. If you’ve struggled to pay your taxes, you may eventually receive something called a notice of IRS levy. T... CONTINUE READING

What to Expect If You Receive IRS Notice CP14

3 June, 2023 | Tax Issues Tax Levy Tax Liens Tax Relief

If you don't pay your tax bill, you will eventually receive notice CP14. As of May 2023, the IRS has announced that it is going to be sending out millions of these notices. This is part of the agency's plan to ramp up collection activities after going relatively dormant during the COVID pandemic and its aftermath. The agency also plans to start sending more CP501 notices from its automated collection system. What does this m... CONTINUE READING

Overview of IRS Tax Levy Issues

9 August, 2013 | Tax Levy

Overview of IRS Tax Levy Issues An IRS tax levy is a seizure of your property to pay a income tax debt owed. A tax levy is different than a income tax lien. A tax lien is similar to a mortgage on your property, an... CONTINUE READING

IRS Levies

3 May, 2013 | Tax Levy

IRS Levies If you do not settle your tax debts from back taxes, the Internal Revenue Service can put a levy on your bank account. A levy is a seizure of your property to settle a tax debt.  This seizure is legal, and actually takes your property from you to satisfy the tax debt. Reasons for an IRS Levy" The IRS can commence a levy for several reasons, such as unfiled tax returns, unpaid back taxes or if you defaulted installment agreem... CONTINUE READING

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NY State Tax Warrant: What to Expect and How to Resolve

  Summary   A tax warrant in New York is a legal claim by the state on personal and real property due to unpaid income, sales, or other New York State taxes. The Department of Taxation and Finance (NYS DTF) issues tax warrants, and they create a lien against as...