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Category: Tax Levy

Alter Ego Liens and Levies: How to Protect Your Assets

10 October, 2025 | Tax Laws Tax Levy Tax Liens Tax Relief

    What Is an Alter Ego Levy and How to Protect Your Assets? An alter ego levy is when the IRS seizes assets owned by your alter ego to cover your tax debt. If you've received notice of an alter ego lien or levy, you need to take action – this is not routine tax debt collection, and generally, the IRS only pursues this route when they believe you are hiding assets or they have the right to pierce the corporate veil due to co-mingling.  ... CONTINUE READING

What If Your Business Gets Padlocked for Tax Debt?

17 August, 2025 | Tax Levy

What to Do If Your Business Is Padlocked for Unpaid Taxes If your business has fallen behind on taxes in New York, you could face more than just collection letters. The New York State Department of Taxation and Finance (DTF) and, in some cases, the IRS, have the authority to physically shut down a business that fails to resolve its tax debts. This is called a padlock action, and it means agents can show up without wa... CONTINUE READING

What to Do When You Receive an IRS LT11 Notice of Intent to Levy

15 January, 2025 | Tax Levy Tax Notices

Summary An LT11 Notice of Intent to Levy is sent by the IRS to taxpayers to inform them of their unpaid tax balance and the potential seizure of their assets. This notice is usually preceded by other letters and notices, and it contains detailed information about the tax owed, penalties, interest, and possible consequences. Taxpayers have 30 days to respond to an LT11 notice. They can either pay the tax... CONTINUE READING

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

Summary CP14 is a notice from the IRS demanding payment for unpaid taxes, interest, and penalties. You may receive this notice for various reasons, including filing a tax return without full payment, IRS adjustments leading to additional tax liability, or unpaid taxes due to an audit. CP14A is a balance due notice sent to those with existing installment agreements, requiring no additional action unless the balance is incorrect. If you receive a CP14 notice, verify the information's ac... 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: What They Are, How They Work, and How to Respond Introduction: Facing an IRS Levy in New York If you owe back taxes and have ignored IRS notices, you risk an IRS levy. A levy allows the IRS to legally seize property, bank funds, or wages to settle your debt. The IRS follows strict processes, but the impact on your life can be significant. Understanding IRS levies can help you act strategically and g... CONTINUE READING

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Alter Ego Liens and Levies: How to Protect Your Assets

    What Is an Alter Ego Levy and How to Protect Your Assets? An alter ego levy is when the IRS seizes assets owned by your alter ego to cover your tax debt. If you've received notice of an alter ego lien or levy, you need to take action – this is not routine...