In this episode, I discuss what you should do if you receive a notice of intent to levy. Mid-June the IRS issued a slew of notices to delinquent taxpayers after pausing collections for COVID. I explain what you need to know about these notices to avoid your wages being garnished or your bank funds seized.
Like a rattlesnake, a levy notice is a warning. Fail to act and the IRS will strike. You face wage garnishment or a bank levy, meaning you may no longer have access to funds needed for life's necessities like food, gas or rent. Act now to avoid the danger and protect your assets.
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Here are copies of the notices mentioned in the podcast, as well as the heading you will see in the letter:
LT11 "Notice of Intent to Levy and Notice of Your Right to a Hearing. Intent to seize your property or rights to property. Amount due immediately: $X,XXX.XX"
CP90 "Intent to seize your assets and notice of your right to a hearing.
Amount due immediately: $X,XXX.XX"
CP91 "Intent to seize up to 15 % of your Social Security benefits
Amount due immediately: $X,XXX.XX"
CP504 "Notice of intent to seize (levy) your property or rights to property
Amount due immediately: $X,XXX.XX"
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If you or someone you know has a tax problem and needs help now, call our office at 207-502-7181 or email us at jwade@jdwadelaw.com. We will be glad to help you. Otherwise, please enjoy our content and let us know if there are topics you'd like us to discuss.
Episode 30: What to Know About IRS‘ Private Collection Agencies
Episode 28: My Ex Spouse Claimed My Child, Now What?!
Episode 27: Don't Lose Your Golden Ticket to US Tax Court
Episode 26: Haven't Filed Your Taxes? Beware. The IRS Can File One For You.
Episode 25 - Some Dirty Secrets About Filing a Joint Tax Return
Episode 24 Home is Where the Heart is and Maybe Even Some Taxes
Episode 23: IRA Tax Traps
Episode 22: Payroll Tax Problems
Episode 21: IRS Announces New Taxpayer Friendly Initiatives
Episode 20: IRS Transcripts and How They Can Help Your Case
Episode 19: The Roadmap to Resolution
Episode 18: How to Avoid Bad Apple Tax Preparers
Episode 17: Death and Taxes, What Happens to Your Tax Debts When You Die
Episode 16: Employers. Watch Out, if You Outsource Payroll!
Episode 15: What Are Offer Mills and Why Should You Steer Clear of Them
Episode 14: What to Watch Out For If You Are Divorcing a Tax Deadbeat.
Episode 13: Are There Any Drawbacks to Filing an Offer in Compromise?
Episode 12: IRS Offer-in-Compromise Myths
Episode 11: I Can't Pay My Taxes! Now What?
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