The IRS sends a Notice of Intent to Levy when they are intending to take your assets imminently. A levy is the IRS legally taking your property for the collection of tax. This notice informs you that the IRS plans to seize your assets, and if you do not respond within the deadline, they will take your assets. For example, the IRS can take your income by filing a notice with your employer, they can take your bank accounts, and seize any property that you own.
This can be a scary situation, but you do have rights. In most cases, you will be given the opportunity to request a collection due process hearing. This hearing must be requested within a specific time frame, and during this hearing, you (or your representative) will be able to argue that the IRS should not levy (take) your assets if you can provide them with other options for the collection of your tax debt.
Received an IRS Notice of Levy? Tax Attorney Pat Komor Can Help
If you receive an IRS notice of levy, contact Komor Tax Law for an evaluation of your options. If we determine that you can request a collection due process hearing, we will advocate strongly on your behalf to provide viable collection alternatives to the IRS.