Many small business owners, freelancers, and independent contractors are surprised to learn that the IRS can levy the payments they receive from clients or vendors. This type of enforcement, known … Read more
An IRS levy does not only affect the money you have today. In many cases, the IRS can also seize your future federal tax refunds and apply them to your … Read more
Many taxpayers assume that when the IRS collection statute expires after 10 years, all tax problems disappear automatically. While it is true that IRS liens generally expire with the collection … Read more
The IRS has the authority to levy a portion of your Social Security benefits if you have unpaid tax debt, and this can come as a shock to many retirees … Read more
When the IRS levies your wages, bank account, or other assets, your top priority becomes getting the levy released as quickly as possible. A levy can disrupt your life overnight … Read more
The IRS’ Final Notice of Intent to Levy is one of the most serious tax notices you can get. This letter, officially known as Notice LT11 or Letter 1058, lets … Read more
Selling a home with an IRS lien can be challenging, but it is possible with proper planning. A federal tax lien attached to your property means that the IRS has … Read more
Many taxpayers worry that the IRS might file a federal tax lien without warning. The good news is that the IRS does notify you before filing a lien. In fact, … Read more
If you are wondering whether bankruptcy can stop an IRS levy, the answer is: in many cases, yes. When you file for bankruptcy, an automatic stay goes into effect. This … Read more
Many people who owe the IRS hope that bankruptcy will give them a fresh start. Bankruptcy can stop most collection actions, like wage garnishments or bank levies. But one common … Read more
When you have tax debt but can’t pay your balance in full right away, the IRS offers installment agreements or more commonly called payment plans to help spread out what … Read more
An IRS installment agreement can make paying your tax debt less overwhelming by breaking it into monthly payments. But what happens if your financial situation changes after you’ve set it … Read more
If you’ve fallen behind on your taxes, you may wonder whether that unpaid balance could harm your credit. After all, most types of debt can show up on your credit … Read more
Both payroll tax and income tax are essential parts of how the IRS collects revenue, but they work in very different ways. Knowing how each one functions and who is … Read more
When a business can’t pay its tax debt, one possible relief option is Currently Not Collectible (CNC) status. This temporary protection stops the IRS from enforcing collections, like levies or … Read more
If you’re behind on your taxes, you may already know that the IRS has the power to collect what you owe in different ways. One of the most common surprises … Read more
If you owe the IRS for more than one tax year, you might feel overwhelmed trying to manage different balances. The good news is that the IRS usually allows taxpayers … Read more
Setting up an IRS installment agreement can be a huge relief. It breaks your tax debt into manageable monthly payments and protects you from immediate collection actions. But what if … Read more
Falling behind on your taxes can be overwhelming, especially once the IRS gets involved. One of the toughest collection actions they use is wage garnishment, where part of your paycheck … Read more
When taxpayers fall behind on their IRS debts, one of the harshest collection tools the agency can use is a bank levy. Many people assume that once the IRS levies … Read more
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