Virginia IRS Tax Levy Lawyer
Owing money to the Internal Revenue Service (IRS) can result in a multitude of warnings and notices that, if ignored, can lead to a levy against one’s bank account, wages, and personal properties.
An IRS tax levy is a serious matter that should not be taken lightly. After a sufficient amount of time has passed, the IRS has the right to issue a levy, which may involve taking out the necessary funds needed to satisfy the tax debt.
The IRS simply does not care what the money is needed for, whether it is to pay rent, cover outstanding medical bills, or be allocated to other necessities, the only variable they see is the money in the taxpayer’s account.
Tax laws are notoriously complex and for this reason, it is imperative that taxpayers opt for a skilled Virginia IRS tax levy lawyer that understands their particular tax situation and fight for the best available outcome. Reach out to a seasoned tax resolution attorney today.
Important Facts on Tax Levies in Virginia
According to the Internal Revenue Services, a taxpayer may request to release the levy, and even appeal if the request is denied. If the IRS finds that the levy is the cause of immediate financial hardship, the levy may be released. However, qualifying for this is not as merely easy as many taxpayers make it out to be. There are numerous factors that must be proven.
When a person owes a debt to the IRS and does not pay within ten days after a notice or warning has been sent, the IRS may begin the process of issuing a levy against the taxpayer.
However, the IRS will not simply levy a bank account due to the extreme nature of this process. Realistically, the IRS must issue numerous warnings and satisfy a multitude of notice requirements before a levy can be officially issued. Consult with an IRS tax levy lawyer in Virginia for more information.
The Significance of Notices of Intent to Levy
After time has passed and taxes still remain unpaid, the IRS will demand payment in the form of a “Notice of Demand”. Despite being sent by a collection agency, oftentimes taxpayers will ignore or choose not respond to the notice, due to a lack of care or just clinging on to the belief that their debt will disappear.
Any and all mail sent from the IRS should be opened and read for the sake of preventing a levy. It has become common for levies to be issued simply because the notice was thrown away or disregarded.
Following the Notice of Demand, a CP-504 Letter will be sent to the taxpayer, which is designed to inform and scare the individual into satisfying their debt. Truthfully, it is not uncommon to find multiple CP-504’s in one’s mailbox over a span of a few months. While it may still be considered a “warning”, it is important to note that the IRS is slowly working their way towards issuing a Notice of Levy.
Lastly, when enough is enough, the IRS will issue a final notice (CP-1058), which is the last letter they will send before they attempt to seize every asset that the taxpayer owns. Recipients of this letter need to do everything they can negotiate a resolution of their tax debt or face the severe consequences.
Turn to a Virginia Tax Levy Attorney Today
The impact of tax levies can cause significant harm to a family and resonate down to every member. Dealing with these tax problems requires a knowledgeable Virginia tax levy lawyer that can provide prompt, personal services and legal representation for all types of IRS issues. To learn more, call today.
