The US Treasury Inspector General has released a recent report detailing the failure of the IRS to send appropriate Notification of Intent to Levy in over 40% of automated cases studied. When the taxpayer owes the IRS for back taxes and fails to pay the amount or make arrangements, the IRS has the power to seize assets, bank accounts or wages. This is known as a “levy”, or “Garnishment” in the case of wages.
The analysis showed that in 20% of the manual adjustments and more than 40% of the automated system levies, the IRS failed to provide appropriate notice to the taxpayer. There is nothing more troubling to many taxpayers than to have the IRS seize their bank account or garnish their wages. There are alternatives.
If you owe the IRS more than $10,000 the experienced tax attorneys at Allen Barron invte you to call for a free consultation at 866-631-3470. We will discuss strategies to avoid a levy or garnisment, to put an end to IRS collections, and to provide you with the time and space to repay your tax debt.