Stop IRS Levy Action - Choosing A Tax Relief Company

You have acquired either a “Notice of Intent to Levy” or perhaps an actual levy has been sent to your bank, employer or placed on a different source of income. A “Notice of Intent to Levy” is a 30 day notice left at the individual's common place of work, residence, or sent to the last known address on file. The IRS will move forward with delivering a levy if the tax problem is not fixed before the 30 day timeframe expires. When the IRS wants to get a taxpayer's attention, a levy is the primary way they do it. It is usually sent to a taxpayer’s bank, employer or both. If it is a bank levy it will capture all the money within your account up to the total amount due. An IRS levy mailed to your company is a continual tax levy that proceeds until the levy is removed, the statue of limitations comes to an end, or until the tax debt is paid. Typically, a wage levy will in most cases leave a person with not much to live on. A “Notice of Intent to Levy” or an actual IRS levy can be very overwhelming. Most feel neither competent nor confident enough to handle it alone. I do encourage representation for several reasons; an experienced tax professional will know exactly how to work tax laws and regulations to your benefit, your rights as a tax payer and what information to submit to the IRS. They will usually be able to expedite the process to stop the IRS from levying or have an actual levy released. So how do you choose a Tax Resolution Company to help combat an IRS levy? I recommend asking the following questions: 1. What type of standing and history do they have with the BBB? Though it will not likely reveal everything about the company, it is usually a very good sign of their reputation. 2. How long has the company been in business? You want a firm or individual who is knowledgeable with tax issues and working with the IRS. 3. What is their knowledge in working with the Collection Department of the IRS and with handling IRS levies? 4. What are their costs? Be mindful of hidden charges and make sure they are upfront from the beginning. 5. Can they prepare tax returns if needed? If you are not up to date with tax filings the IRS won't release a levy. If there are tax returns that need to be prepared, you need to handle this at the beginning. 6. Is the person you are speaking with the real person that will be handling the case and are you comfortable with them? 7. How soon can they have it removed? You will want to realize the approximate time it will take if you need to have a levy stopped or have a levy discharged. There are different factors that can be involved to stop IRS levy action, but the representative should be able to go over these with you and give you an approximate time line. All in all, an IRS levy can be a challenging and cumbersome issue, but if dealt with correctly can be less taxing than you think.