Tax levies are one of the most serious enforcement tools used by the IRS or state tax authorities to collect unpaid taxes. They allow the government to seize your assets, including bank accounts, wages, and property, to settle tax debts.
For residents in Robstown, understanding how tax levies work and knowing where to seek help can make a significant difference in protecting your financial stability. With the guidance of a debt relief attorney, you can navigate the process and achieve relief from tax levies in Robstown.
What Is a Tax Levy?
A tax levy is a legal action taken by the IRS or state tax authorities to collect unpaid taxes after repeated attempts to collect the debt have failed. Unlike a lien, which is a claim against your property, a levy involves the actual seizure of your assets. Common targets of levies include:
- Bank accounts
- Wages
- Real estate
- Vehicles
Before issuing a levy, the IRS typically sends multiple notices, including a Final Notice of Intent to Levy. It’s crucial to act promptly when you receive such a notice, as ignoring it can lead to significant financial consequences.
The Impact of Tax Levies on Your Finances
Tax levies can be devastating to your financial health. The sudden seizure of funds from your bank account or garnishment of wages can make it difficult to meet basic living expenses.
Additionally, a levy on property or other assets can lead to the loss of valuable possessions. These actions often create a ripple effect, leading to mounting stress and further financial instability.
How a Debt Relief Attorney Can Help
Hiring an experienced debt relief attorney is one of the most effective ways to address tax levies. Here are the key ways an attorney can assist:
- Negotiating with Tax Authorities: Attorneys can work with the IRS to negotiate payment plans, installment agreements, or offers in compromise, which may reduce the overall tax debt.
- Stopping a Levy: A lawyer can help stop or release a levy by demonstrating financial hardship or proving errors in the tax assessment process.
- Filing for Bankruptcy: In some cases, filing for bankruptcy may halt levies. A bankruptcy lawyercan determine whether this option is suitable for your situation.
- Representing You in Court: If the levy leads to aforeclosure lawsuit in Robstown or other legal action, an attorney can provide representation to protect your rights and assets.
Protect Your Finances with the Law Office of Joel Gonzalez
Dealing with a tax levy can be overwhelming, but you don’t have to face it alone. At the Law Office of Joel Gonzalez, we are committed to helping clients in Robstown and surrounding areas achieve relief from tax levies and other financial challenges. Whether you need a debt relief attorney, bankruptcy lawyer, or representation in a debt collection lawsuit in Ingleside, Joel offers personalized, reliable legal support.
Contact Joel today to discuss your case and take the first step toward financial stability.
