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A federal tax levy occurs when you fail to pay taxes to the government. The Internal Revenue Service (IRS) maintains the rules and regulations associated with a federal tax levy, issues levies, and proceeds with any action to garnish wages, benefits or assets necessary to satisfy them.
Notice of Levy
A tax levy issued by the IRS must be preceded by a notice of levy. This notification provides you with information concerning the nature of the levy and about the process of disputing or challenging its validity. This includes a formal appeals process and a mechanism to request information about the levy and whether it is yours or someone else’s concern.
Knowing Your Rights
Upon receipt of the levy, you are permitted by law to contact professional counsel to assist you in asserting your rights. You can hire a tax attorney or tax accountant to examine your situation and determine the best course of action for dealing with the levy. This allowance, by law, protects your rights and gives you an opportunity to receive advice relative to your tax levy situation. You are allowed an appeal to present your case.
Review of IRS Rules and Regulations
You can find information about specific tax codes that deal with federal tax levies online. Through the Library of Congress, you can search for the detailed rules and regulations published by the IRS. The rules and regulations are also found in the "Code of Federal Regulations," a publication that contains all federal regulations generated as a result of congressional action.
Seek Professional Advice
You should seek the counsel of a professional in understanding federal rules and regulations related to tax levies. The regulations are designed to be interpreted by lawyers or tax coders and can be difficult for lay people to follow. A professional's expertise and advice can help save you hours of research and assist you in properly addressing your tax lien situation.
Notice of Levy
A tax levy issued by the IRS must be preceded by a notice of levy. This notification provides you with information concerning the nature of the levy and about the process of disputing or challenging its validity. This includes a formal appeals process and a mechanism to request information about the levy and whether it is yours or someone else’s concern.
Knowing Your Rights
Upon receipt of the levy, you are permitted by law to contact professional counsel to assist you in asserting your rights. You can hire a tax attorney or tax accountant to examine your situation and determine the best course of action for dealing with the levy. This allowance, by law, protects your rights and gives you an opportunity to receive advice relative to your tax levy situation. You are allowed an appeal to present your case.
Review of IRS Rules and Regulations
You can find information about specific tax codes that deal with federal tax levies online. Through the Library of Congress, you can search for the detailed rules and regulations published by the IRS. The rules and regulations are also found in the "Code of Federal Regulations," a publication that contains all federal regulations generated as a result of congressional action.
Seek Professional Advice
You should seek the counsel of a professional in understanding federal rules and regulations related to tax levies. The regulations are designed to be interpreted by lawyers or tax coders and can be difficult for lay people to follow. A professional's expertise and advice can help save you hours of research and assist you in properly addressing your tax lien situation.
