Many people don't put the IRS at the top 10 netlinking sites of their to-do list, and here's why: If you forget about your electric bill, they cut off your power. If you don't pay your water bill, they turn off your water. Months might go by before you hear anything from the Federal Government. So why stress, right? Wrong! What separates the Internal Revenue Service from every other collector is that when they come, they come hard with their effective arsenal.
The Internal Revenue Service's attack of choice is usually a Tax Levy or an IRS Lien. It's quite hard to obtain an IRS tax debt solution after an IRS attack begins. If you want to avoid a Federal Levy, you have to get moving as quickly as possible when you see the indications of an impending attack by the IRS.
If you've neglected to file your taxes for the past few years, you've quite likely been delivered a few warnings from the Internal Revenue Service, regarding your back taxes. In no time, you find yourself holding a Final Notice. Though this may not seem important at the moment, you had better pay attention! That's the last opportunity you'll get to handle your past-due debt before the attacks begin. You don't want to be the victim of an IRS attack. Trust me! Below, I go over the different problems you may face with an IRS Tax LevyA few IRS Tax Debt Remedies are also reviewed to help you settle your tax matter.
IRS Attack: IRS Tax Levy
This technique involves the Internal Revenue Service freezing your bank account and taking whatever is in it. You are pretty much frozen out of your own account. This is especially distressing for those with direct deposit -- you'll have to kiss your paychecks goodbye. The worst part? Neither you nor your bank can do a single thing about it.
Tax Lien
An IRS tax lien can be filed on you, which means you are unable to do anything involving credit. You can't open a new credit card or sell your vehicle. Your credit could be ruined for the rest of your life! The IRS might also apply a lien on your home, making it impossible to sell or remodel. These tax liens have the potential to turn into property seizures, and the Internal Revenue Service can sell your possessions and apply the profits to your unpaid tax debt.
Internal Revenue Service Wage Garnishment - This is, by far, the most powerful IRS attack. With a Federal Wage Garnishment, the Internal Revenue Service will warn your workplace about your outstanding tax debt and begin taking a percentage of your check to put towards your debt. The government may legally take up to eighty percent, and you can bet the IRS will take as much as they can.
How do you prevent an IRS attack? All you need to do is file your taxes. Even if it turns out that you owe and you have to request an extension, be sure to file. The Internal Revenue Service can put you in jail if you neglect to file, and the penalties can be as much as $50K for each year not filed. Request an extension if you think you will not have the ability to file on time. Communication with the IRS is critical. The IRS is not the collection agency to mess with.
Going at it on Your Own: You're put in some tense circumstances when you have the IRS. If you are losing hope, touch base with a tax expert. You can trust in their guidance to ward off the IRS attacks, with an IRS Remedy.
How to Select a Federal Tax Resolution Expert: To prevent an IRS attack, be sure to work with an Internal Revenue Service Provider with an A Rating or better with the Better Business Bureau (BBB.org). To find their score, visit bbb.org.
Are you faced with an IRS Levy or IRS Lien? Go to Small-Biz-Tax-Debt.com and let our Tax Debt specialists help you reach an IRS Tax Debt Solution to put a stop to IRS Attacks.
The Internal Revenue Service's attack of choice is usually a Tax Levy or an IRS Lien. It's quite hard to obtain an IRS tax debt solution after an IRS attack begins. If you want to avoid a Federal Levy, you have to get moving as quickly as possible when you see the indications of an impending attack by the IRS.
If you've neglected to file your taxes for the past few years, you've quite likely been delivered a few warnings from the Internal Revenue Service, regarding your back taxes. In no time, you find yourself holding a Final Notice. Though this may not seem important at the moment, you had better pay attention! That's the last opportunity you'll get to handle your past-due debt before the attacks begin. You don't want to be the victim of an IRS attack. Trust me! Below, I go over the different problems you may face with an IRS Tax LevyA few IRS Tax Debt Remedies are also reviewed to help you settle your tax matter.
IRS Attack: IRS Tax Levy
This technique involves the Internal Revenue Service freezing your bank account and taking whatever is in it. You are pretty much frozen out of your own account. This is especially distressing for those with direct deposit -- you'll have to kiss your paychecks goodbye. The worst part? Neither you nor your bank can do a single thing about it.
Tax Lien
An IRS tax lien can be filed on you, which means you are unable to do anything involving credit. You can't open a new credit card or sell your vehicle. Your credit could be ruined for the rest of your life! The IRS might also apply a lien on your home, making it impossible to sell or remodel. These tax liens have the potential to turn into property seizures, and the Internal Revenue Service can sell your possessions and apply the profits to your unpaid tax debt.
Internal Revenue Service Wage Garnishment - This is, by far, the most powerful IRS attack. With a Federal Wage Garnishment, the Internal Revenue Service will warn your workplace about your outstanding tax debt and begin taking a percentage of your check to put towards your debt. The government may legally take up to eighty percent, and you can bet the IRS will take as much as they can.
How do you prevent an IRS attack? All you need to do is file your taxes. Even if it turns out that you owe and you have to request an extension, be sure to file. The Internal Revenue Service can put you in jail if you neglect to file, and the penalties can be as much as $50K for each year not filed. Request an extension if you think you will not have the ability to file on time. Communication with the IRS is critical. The IRS is not the collection agency to mess with.
Going at it on Your Own: You're put in some tense circumstances when you have the IRS. If you are losing hope, touch base with a tax expert. You can trust in their guidance to ward off the IRS attacks, with an IRS Remedy.
How to Select a Federal Tax Resolution Expert: To prevent an IRS attack, be sure to work with an Internal Revenue Service Provider with an A Rating or better with the Better Business Bureau (BBB.org). To find their score, visit bbb.org.
Are you faced with an IRS Levy or IRS Lien? Go to Small-Biz-Tax-Debt.com and let our Tax Debt specialists help you reach an IRS Tax Debt Solution to put a stop to IRS Attacks.
