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What is an IRS Tax Levy?

An IRS Tax Levy is a legal seizure of assets taken in order to satisfy a tax debt. An IRS Tax Levy can be attached to any property, including real estate and automobiles, but is more frequently applied to bank accounts, stocks, bonds, securities, wages and even a businesses’ accounts receivable. It is not uncommon for a tax agency to install a “keeper” into a retail business to gram any money that comes into the business by customers, or the mail. The IRS usually levies only after these three requirements are met:

  • The IRS assessed the tax and sent you a Notice and Demand for Payment;
  • You neglected or refused to pay the tax in the Demand for Payment; and
  • The IRS sent you a Final Notice of Intent to Levy and Notice of Your Right to A Hearing (which is the actual levy notice).

An experienced tax attorney can almost always prevent a tax levy by requesting a Collection Due Process hearing and thus convincing the IRS that alternatives to the levy are possible and forthcoming.  If your wages or your bank account has already been levied by tax authorities, a tax attorney can often convince the IRS to release the levy and prevent any future levies by negotiating a tax collection alternative.  Orange County Tax Attorney, Paul W. Raymond can vigorously represent you through every step of the process, advising you on the best strategies and alternatives to threatened or ongoing tax levies. As always Attorney Paul W. Raymond will strive to produce for you the best possible results.

Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

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Associations
Member CA Bar Member Orange County Bar US Tax Court Attorney