Can the IRS levy your LLC’s accounts and assets? Will they stop with your business assets, or will they come after your personal assets as well? These questions go to the heart of why it is so important to carefully establish your San Diego LLC during the formation process, and to protect the corporate veil once your LLC has been established. If you are a single member LLC, it is important to file form 8832 which communicates that you elect to be treated as corporation – a separate entity than your own person. This critical step separates the liabilities of the business from your personal assets from the perspective of the IRS. This isn’t water any business person should swim in on their own.
The IRS absolutely has the power to levy all assets of a San Diego LLC including bank accounts, accounts receivable, real estate, equipment, vehicles, even your inventory. The IRS will not do so without providing advance written notice. As an experienced tax attorney with decades of experience handling tax matters for LLCs and corporations, I can tell you there are alternatives to a levy. You must act quickly, and the first step is to contact us for a free consultation at 866-631-3470. As an attorney I can work on your behalf to prevent the IRS from attaching critical business assets that are required for your LLC to keep generating revenues and survive. We have proven tactics that will keep the IRS from seizing your business accounts, vehicles, real estate or other assets.
