| If you have ignored earlier notices from the IRS urging | | | | assessment of your case. You could try contacting a |
| you to pay your unpaid taxes or informing you about | | | | few to take their opinion. But since time is of the |
| some errors in the calculation of your taxes, then the | | | | essence, it is imperative that you contact them |
| IRS will start using their heavy weapons. They will | | | | immediately. |
| send you a Notice of Intent to Levy. This notice simply | | | | You could also go to the official site of the IRS, to |
| means that they are tired of talking to you and now | | | | check out the meaning and derivatives of all the forms |
| are ready to take serious action against you by | | | | and documents related to your case. Your Tax |
| choking your financial blood flow. | | | | Attorney could also help you to fill out a form known |
| This basically means that they can snatch away your | | | | as the request for collection due process form, which |
| bank balance, your wages, your assets such as your | | | | entitles you to a meeting with the IRS officer before |
| car, your boat or your home and also bonds, stocks or | | | | any actual action against you is taken. If you do not |
| life insurance policies which you might have. For | | | | submit this form with 30 days, you can still arrange a |
| example, if a wage levy or wage garnishment as it is | | | | meeting, but your bank account or wage will be frozen. |
| called is levied, your employer will then have to withhold | | | | The form contains a section, which may allow you to |
| a large portion of your paycheck, which will be | | | | pay your back dated taxes in installments in case you |
| transferred to the IRS in case you are unable to solve | | | | are unable to pay your tax at one go. However, this is |
| your IRS problems within 21 days. | | | | subject to your discussions with your Tax Attorney |
| In case of a bank levy, your bank manager will be | | | | and the IRS officer. These installments will also include |
| instructed by the IRS to freeze the amount in your | | | | your penalty and interest amounts. There is also one |
| bank account, which the IRS feels, you owe to them. | | | | more section called the 'Offer In Compromise', where |
| You can still use your bank account to deposit or | | | | you can offer to pay the IRS and amount, which is |
| withdraw money, but the amount, which you | | | | less that the amount that they are demanding from |
| supposedly owe to the IRS will remain frozen till you | | | | you. One more section is the innocent spouse relief, |
| can sort out the matter. If you do not sort out your | | | | where, if you feel that you are being penalized by the |
| problem within 30 days, then that amount will get | | | | IRS because of actions take by your spouse or |
| transferred to the IRS, which will make it more difficult | | | | ex-spouse, then that too can be explained to the IRS |
| to get back. | | | | in this section. |
| So, the first thing to do, once you do get a Notice of | | | | In case you feel that the IRS has made an error in |
| Intent to Levy is to contact your tax attorney or if you | | | | sending you the Notice of Intent to Levy and that you |
| are able to handle it yourself, then directly contact the | | | | do not owe them any money, then you will have to |
| IRS. The intent is to make it clear to the IRS that you | | | | contact your Tax Attorney and he can direct you to |
| are serious about resolving the problem as soon as | | | | take the matter to court, depending on your case. This |
| possible. In case you cannot pay your taxes due to an | | | | can mean a long drawn battle and should be |
| extreme reason such as bankruptcy or a serious | | | | considered only as a last step. |
| illness in your immediate family, then those relevant | | | | So, whatever your strategy, it is very important to get |
| documents have to be submitted to the IRS. Your Tax | | | | into action the minute you receive the Notice of Intent |
| Attorney will be able to show you the correct way out | | | | to Levy from the IRS. Going slow is going to only harm |
| once he knows the details of your case. There are | | | | you and make the case of the IRS even stronger. |
| many attorneys who are willing to do a free | | | | |