Bob Jablonsky & Associates Blog

Dallas TX – IRS Levy Relief!

by | Jun 9, 2020

The IRS is certainly amongst the most powerful creditors in the world. They have several tools at their disposal to collect delinquent taxes. The tool that gets the quickest attention of a taxpayer who owes taxes is the Levy. When taxpayers with an IRS levy come to our Richardson TX office, they are often incredibly stressed and want to immediately deal with their tax issue.  

 

What is an IRS Tax Levy?

An IRS levy permits the IRS to legally seize the taxpayer’s property, including garnishing wages, taking money from bank accounts or other financial accounts, as well as seizing real estate, vehicles and other personal property to satisfy a tax debt.

 When does the IRS Levy a Taxpayer?

The IRS doesn’t immediately Levy a Taxpayer who owes taxes. There is a process with delinquent tax debt that leads to a levy including the following steps:

  • The tax return is filed and the tax is assessed.
  • An initial notice goes out notifying the taxpayer of the tax owed.
  • Several Additional notices are sent to the taxpayer. If the taxpayer pays attention, the notices get increasingly more direct.
  • Eventually, the IRS sends the Taxpayer a Final Notice of Intent to Levy. This is often IRS Letter 1058 or LT11 and gives the taxpayer 30 days to respond. If the deadline is missed, the IRS can now levy the Taxpayer.

 How Can a Taxpayer Stop or remove a Levy?

The key to a Taxpayer stopping or avoiding a levy is to respond to the IRS and attempt to resolve the issue. The Taxpayer can:

The best solution for the Taxpayer will be based on their own unique Circumstances.

Do You Need Help?

If you need help with an IRS Levy or other IRS issue, I’d be happy to meet with you at no cost.. Please call (972) 821-1991 or email me at bob@jablonskyandassociates.com.

Bob Jablonsky is the founder of Bob Jablonsky & Associates. He has spent his career helping taxpayers resolve tax issues and get back on track with the IRS. In addition to tax resolution his firm also prepares hundreds of tax returns every year for both individuals and small to mid-sized businesses.

Bob is an IRS Enrolled Agent (EA), which is an elite credential issued by the Internal Revenue Service to professionals who demonstrate special competence in federal tax planning, individual and business tax return preparation, and representation matters. An Enrolled Agent license is the highest credential awarded by the IRS and is recognized across all 50 states. Additionally he is a CMA, or Certified Management Accountant, a designation for financial controllers and CFOs (Chief Financial Officers), as well as an Advanced Certified Quickbooks Pro Advisor.

Get in touch

1900 Jay Ell Drive
Richardson, TX 75081

Bob@jablonskyandassociates.com

(972) 821-1991

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