Often confused with a tax lien, an IRS income tax levy or garnishment occurs when the IRS actually seizes wages, income, bank accounts, social security payments, disability payments, accounts receivables, insurance proceeds, real property, personal property, and/or personal residence as severance for what you owe them. An IRS tax lien, simply gives the IRS a recorded right to your property. In effect, this means that you cannot dispose of your assets (i.e. sell your home). The IRS income tax lien ( Federal Tax Lien)will likely appear as negative history on your credit report. Unlike the federal tax lien, an IRS levy can devastate your life. You can risk losing your home and all monetary means if not taken care of properly. Fortunately, with the best IRS help team at Flat Fee Tax Service, Inc., we have crafted proven strategies and techniques designed to stop or release IRS garnishments.
Stopping an IRS levy is typically only a short-term solution to a larger income tax problem that needs resolution. Therefore, any levy release must be immediately followed by a long term strategy developed to either reduce or eliminate the underlying tax debt. As such, we strongly recommend that any garnishment release or attempted release be performed by an experienced tax attorney, as it often includes a financial statement followed by complex negotiation.
This holds particularly true when dealing with an IRS Revenue Officer refusing to release the garnishment. In such instances we typically initiate a "CAP Appeal," or Collection Appeal Program with the Revenue Officer's branch office. An impartial third party then evaluates the appeal and determines the fairness or appropriateness of the garnishment. Revenue Officers particularly dislike CAP appeals as they stop current garnishments and the appeals officer usually rules in favor of the client so long as the tax attorney proposes a reasonable alternative to the garnishment.
If you are currently faced with an IRS levy or believe an IRS levy is imminent, contact the best IRS help team at Flat Fee Tax Service, Inc. Our experienced IRS Tax Attorneys will put together a strategy that not only stops your IRS garnishment but also possibly eliminates your tax debt forever.