Investopedia notes that a levy means seizing a debtor’s property via legal measures to level outstanding amounts of debt. The Internal Revenue Service can levy your property or tax return. There are other ways to settle debt, such as seizing control of bank accounts or assets.
It is important to know that private creditors may need to go through a process to attain a court order if they want to levy property, but an agency like the IRS does not need to follow that path considering they’re federal.
There are ways to attain relief from tax levies. In such cases, a lawyer can help you attain relief from tax levies. Let’s understand how.
How Can A Lawyer Help?
An attorney can help fight your case for you. They can, through technical knowledge, convince a federal agency not to levy your properties, bank accounts, or assets. Your lawyer can help you find relief from tax levies in Corpus Christie by helping you understand how to proceed. To understand technical processes, a lawyer can help provide measures and inform you of your rights. For example: before the IRS opts for a levy, they need to:
– send you a Notice and Demand for payment
– if you ignore the notice
– the IRS will send you a Final Notice of Intent to Levy and a Notice of Your Right to Obtain a Hearing.
A lawyer can also help educate you on what can be levied. Certain aspects cannot be levied, and it’s best if you’re educated about them via a lawyer: social security and government-provided benefits, child support income, and compensation payments, to name a few.
This may be stressful and anxiety-inducing, but seeking professional help can provide a gateway to finding relief when the IRS has seized so much of your life’s earnings. Joel Gonzalez, an attorney based in Texas, can help you reach a common ground.
What Can The IRS Do?
The IRS can rightfully perform actions that creditors may not have the right to follow. Some of those actions are imposing several penalties on you, levying your business account receivables, prosecuting you on a criminal basis, or imposing a levy on your salary.
This can be a particularly frustrating situation to handle, especially if you are not a law professional. A lawyer can help commendably in such cases because, with legal assistance, you can attain a deferral on tax debt for a short period and seek security via bankruptcy. However, it’s critical to know bankruptcy should only be filed if there’s no other way to go. Joel Gonzalez is a professional and expert if you want to file for bankruptcy relief in TX or seek relief from tax levies in Corpus Christie.
Key Takeaways
It is critical to take fast measures when you’re close to becoming victim to the IRS’s tax levy policies. Hire a lawyer immediately who can help you find a way out. There are ways you can achieve relief from tax levies, so opt when you can.
