If you owe the IRS and you have not voluntarily paid the balance you owe, under the Internal Revenue Code, the IRS is authorized to take enforcement actions against your assets. The actual “taking” or “seizure” of those assets is called a Levy. Prior to a Levy, the IRS is required to take certain actions that give you specific time lines for you to act before the Levy is actually served. The most important notice you will receive is called a Collection Due Process Notice (CDP Notice). This notice is sent to your last known address by certified mail. In this notice, you are given thirty (30) days to negotiate a resolution to your account or file a Collection Due Process Appeal. You should Contact Us immediately if you receive this notice. We will either negotiate a solution to your IRS Problem at this point or we will file the Collection Due Process Appeal on your behalf. This will stop any Levy on your bank account or wages
If you do not negotiate a solution to your account or you do not file a Collection Due Process Appeal, the IRS can begin Levy actions against you. No court order is required. This means the IRS can at this point attach your wages, bank account, retirement accounts, stock accounts and rental income. The IRS can also seize any physical assets you own or have an interest in. Your home, auto, boats, motorcycles, jewelry and even your furniture and household effects can all be seized and sold by the IRS.
Once a Levy has been served and an asset attached by the IRS, we can still negotiate with the IRS to have the assets released. If your wages or bank account has been levied by the IRS, you should contact us IMMEDIATELY! Time is of the essence once a levy has been served by the IRS. There is only a short time line before your bank or employer will send the Levied funds to the IRS. Once your money has been sent to the IRS, we cannot get that money back for you. The key to the prevention of Levy actions by the IRS is to Contact Us early, before the IRS has seized your assets.
You should never contact the IRS yourself.