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IRS Levies

A levy is the IRS's way of getting your immediate attention that says, "we have tried to communicate with you, but you have ignored us." Levies are used to seize your wages and whatever other assets you have. This includes checking accounts, cars, stocks, bonds, boats, paychecks, and even Social Security checks.

The IRS can seize the funds in your bank accounts to apply towards the outstanding amount. If your funds did not cover what is owed, they'll keep withdrawing until you cover your tax liability. Their sole objective is to collect the taxes owed. Period.

As bad as that is, a worse method is a wage levy (also referred to as a garnishment). That's when the majority of your paycheck is deducted by IRS every week until the debt is paid.

If that doesn't satisfy the debt, the IRS can seize your assets, and sell them at auction. That includes everything you own; home, cars, boats, jewelry, motorcycles, insurance polices, retirement funds,  or anything of value.

Our goal is to help you get current with the IRS using what you can afford so you can start over with a clean bill of financial health.


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