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A tax levy is the legal seizure of your assets to satisfy a tax debt. If you find yourself facing a levy you need some tax levy help. It’s time you know your rights.
Tax Levy Help Tip #1 – Not All Tax Debt Qualifies for a Seizure
If you owe less than $5000 the IRS cannot put a lien on your residence.
Tax Levy Help Tip #2 – You Have the Right to Notification
The IRS is required to send a Final Notice of Intent to Levy, as well as a notice of your right to a hearing at least 30 days prior to issuing a tax levy.
Tax Levy Help Tip #3 – You Have the Right to Negotiate
You have the right to negotiate with the IRS. Furthermore, once you reach an agreement that your back taxes will not be collected, they must release any levy they have in place.
Tax Levy Help Tip #4 – You Have the Right to Innocent Spouse Relief
When a joint tax return is filed, both parties share equal liability for all taxes owed and penalties. However, if specific legal requirements are met, a spouse can be fully or partially relieved of their debt if the IRS criteria are met.
Tax Levy Help Tip #5 – You Have the Right to Fair Collection Practices
The IRS must communicate with you at convenient time and at convenient place. The IRS is not allowed to harass you.
Tax Levy Help Tip #6 – Statue of Limitations
The statue of limitations for a tax debt is 10 years. If the amount has not been collected and no tax lien has been placed against you during the 10 year period, then you have the right to have your tax debt dropped.
Tax Levy Help Tip #7 – You Have the Right to an Installment Agreement
If you owe less than $10,000 and you have filed your tax returns on time in the past 5 years, you have the right to have the IRS implement an installment agreement that works for you and that has your debt paid off within 3 years.
Tax Levy Help Tip #8 – The Right to a Fair Hearing
If you have a tax lien that has been put in place, you are entitle to have a fair hearing with an appeals officer present who has not had any involvement in the past collections of the unpaid tax bill.
It’s important to understand your rights when it comes to tax levies.
Tax Levy Help Tip #1 – Not All Tax Debt Qualifies for a Seizure
If you owe less than $5000 the IRS cannot put a lien on your residence.
Tax Levy Help Tip #2 – You Have the Right to Notification
The IRS is required to send a Final Notice of Intent to Levy, as well as a notice of your right to a hearing at least 30 days prior to issuing a tax levy.
Tax Levy Help Tip #3 – You Have the Right to Negotiate
You have the right to negotiate with the IRS. Furthermore, once you reach an agreement that your back taxes will not be collected, they must release any levy they have in place.
Tax Levy Help Tip #4 – You Have the Right to Innocent Spouse Relief
When a joint tax return is filed, both parties share equal liability for all taxes owed and penalties. However, if specific legal requirements are met, a spouse can be fully or partially relieved of their debt if the IRS criteria are met.
Tax Levy Help Tip #5 – You Have the Right to Fair Collection Practices
The IRS must communicate with you at convenient time and at convenient place. The IRS is not allowed to harass you.
Tax Levy Help Tip #6 – Statue of Limitations
The statue of limitations for a tax debt is 10 years. If the amount has not been collected and no tax lien has been placed against you during the 10 year period, then you have the right to have your tax debt dropped.
Tax Levy Help Tip #7 – You Have the Right to an Installment Agreement
If you owe less than $10,000 and you have filed your tax returns on time in the past 5 years, you have the right to have the IRS implement an installment agreement that works for you and that has your debt paid off within 3 years.
Tax Levy Help Tip #8 – The Right to a Fair Hearing
If you have a tax lien that has been put in place, you are entitle to have a fair hearing with an appeals officer present who has not had any involvement in the past collections of the unpaid tax bill.
It’s important to understand your rights when it comes to tax levies.
