Can the IRS Take My Stuff, and if they do, what can I do to Protect my assets?

If you do not pay your income tax, Congress has given the IRS the right to levy your assets. In simple terms, that means that the IRS can take your money and your stuff. Normally, to get to the point where a Taxpayer’s assets are levied, the taxpayer has received, and ignored, multiple notices from the IRS. While a levy is used by the government to get payment, the real goal is to get the attention of the taxpaye and force them to address their debt with the government.What can the IRS levy? They can levy your bank accounts, retirement accounts, your business accounts, and your paycheck or amounts owed to you by others. IF that isn’t sufficient, they can seize your assets including your home, your cars, jewelry, and anything else of value that you own. For most people, this creates unnecessary chaos and stress in their lives.

The good news is that you can work with the IRS to have the levies released, or better yet, contact the IRS before the levy is issued to find a resolution to your tax issue. We work with clients all of the time to help them with getting levies released and finding a resolution that works for them financially. If you find yourself either being levied by the IRS or under threat of levy, call me at 972-821-1991 or email me bob@jablonskyandassociates.com at no obligation to confidentially discuss your tax problem and how we can help.