Tax Levies
Tax Levies
When the IRS or State fails to collect taxes from you, they begin to seize your assets. When you do not respond to letters or phone calls, they will take the next step in the process. This next step is called a “levy”. The IRS or State is legally allowed to seize your bank accounts, demand payment from accounts receivable, take control of property for auction, and assume title on vehicles. In other words, anything worth value can be seized to pay off the outstanding tax balance you owe to the government.
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