Receiving a “Notice of Intent to Levy” from the Internal Revenue Service (IRS) can be a distressing experience, raising numerous questions about your rights and options. At Murray Moyer, we help taxpayers in North Carolina address and resolve tax levies, providing guidance and representation to prevent the seizure of your property.
Understanding Tax Levies
A tax levy represents the IRS’s authority to collect outstanding taxes by seizing your assets, including bank accounts, wages, and even physical property like cars, boats, or houses. Levies are a last resort used by the IRS to enforce tax collection on unpaid tax liabilities and can have severe financial repercussions for the taxpayer involved.
Tax Levy Prerequisites and IRS Notices
Before the IRS can issue a levy, it must fulfill specific regulatory requirements, including:
- Assessment of Tax: The IRS formally determines the tax liability.
- Notice and Demand for Payment: The taxpayer receives a demand for payment.
- Pre-Levy Notices: The IRS sends several notices, escalating in urgency, culminating in the Final Notice of Intent to Levy and Notice of Your Right to a Hearing.
Receiving these notices indicates that the IRS is preparing to take significant collection actions against you, making it crucial to respond promptly to avoid asset seizure.
Steps to Prevent an IRS Tax Levy
Appeal to Avoid the Tax Levy
Upon receiving the Final Notice of Intent to Levy, you have a 30-day window to request a Collection Due Process (CDP) hearing. This hearing offers a critical opportunity to contest the levy decision and explore alternative solutions, such as:
- Installment Agreement: A payment plan that allows you to pay off your tax debt over time.
- Offer in Compromise: A settlement to resolve your tax debt for less than the full amount owed.
- Collection Alternatives: Other options that may be available depending on your financial situation.
How Murray Moyer Can Help
Our team at Murray Moyer is experienced in all aspects of tax levy resolution. We provide comprehensive support to navigate the complexities of the IRS levy process, including:
- Assessment and Planning: Evaluating your situation to determine the best course of action.
- Representation: Acting as your advocate in discussions with the IRS, including representing you at the CDP hearing.
- Negotiation: Working to secure an installment agreement, offer in compromise, or other suitable alternatives to prevent asset seizure.
- Compliance Advice: Guiding you to ensure future compliance with IRS regulations to avoid future levies.
Why Choose Murray Moyer
Facing an IRS levy can be an overwhelming experience, but you don’t have to go through it alone. The tax attorneys at Murray Moyer have the knowledge and experience to help you address and resolve your tax issues effectively. We understand the urgency of these situations and are committed to taking immediate action to protect your assets and financial well-being.
If you’ve received a Notice of Intent to Levy from the IRS, contact Murray Moyer today. Let us help you explore your options and take the necessary steps to prevent the levy and secure your financial future.