Business Tax Recovery Logo


IRS Levy Resources Brigham City UT

If you fail to pay taxes owed to the federal government, you risk the wrath of the IRS. The IRS levy is the primary tool of tax nightmares and has given the IRS its nasty reputation.

Mr. Gregory W. Williams (RFC®), CFP, CHFC, CLU, LUTCF, MSFS
(801) 453-2271
6340 South 3000 East, Suite 500
Salt Lake City, UT
Company
Exit Strategy Specialists, LLC
Qualifications
Years of Experience: 26
Membership
IARFC, MDRT, FPA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, personal Coach, Retirement Planning, Tax Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, Mortgage Loans, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Business Coach, Charitable Planning, Education Plan, Asset Protection, BuySell, Compensation Plans

Data Provided by:
H&R Block Premium
(801) 355-4649
888 S 200 E STE B
SALT LAKE CITY, UT

Data Provided by:
H&R Block
(801) 223-9766
1549 N STATE ST STE 102
OREM, UT

Data Provided by:
H&R Block
(435) 462-2785
750 S STATE ST
MOUNT PLEASANT, UT

Data Provided by:
Liberty Tax Service
(866) 871-1040
366 S 500 E
Salt Lake City, UT

Data Provided by:
Mr. A. Wayne Margetts (RFC®), LUTCF
(801) 532-1871
175 S Main St, Ste 1050
Salt Lake City, UT
Company
LPL
Qualifications
Education: BSc (Math)MBA
Years of Experience: 16
Membership
IARFC, MDRT, NAIFA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Medicaid Planning, Tax Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Long Term Care Insurance, Group Insurance, Charitable Planning, Education Plan, Charitable Foundations, Asset Protection, BuySell, Compensation Plans

Data Provided by:
H&R Block
(801) 766-2308
1438 E MAIN STE 8
LEHI, UT

Data Provided by:
Synergy Accounting Solutions
(801) 542-0230
8282 S. State St. Suite
Midvale, UT
 
Robert Blake Accounting and Tax
(801) 763-8295
9626 Dorchester Drive
Cedar Hills, UT
 
H&R Block Inside Sears Downtown
(801) 532-0610
754 S STATE ST
SALT LAKE CITY, UT

Data Provided by:
Data Provided by:

IRS Levy Resources

IRS Levy

If you fail to pay taxes owed to the federal government, you risk the wrath of the IRS. The IRS levy is the primary tool of tax nightmares and has given the IRS its nasty reputation.

Taxpayers are often confused when it comes to an IRS lien versus an IRS levy. An IRS lien is a tax lien filed against various pieces of your property to secure a tax debt. With a lien, the IRS cannot actually seize the property. Once the IRS determines the tax lien isn't going to motivate you to pay the taxes due, it can move to the much feared IRS levy tool.

You were up late one night and saw an infomercial telling offering to tell you how to buy assets seized by the IRS for pennies on the dollar. You probably thought to yourself that you were glad it wasn't your car, home, boat, etc. Well, it could be if an IRS levy is filed against you. If one is filed, you can expect more to come as well.

An IRS levy is a tool for seizing your property to pay off overdue taxes. Unlike a lien, a levy isn't registered per se on the title to the property. Instead, the levy immediately freezes your title to the property and gives the IRS ownership for all intensive purposes. Obviously, this is a complete nightmare for a taxpayer.

The first IRS levy you will see if delinquent on taxes is a bank account levy. The IRS will serve the levy on your bank. The bank immediately freezes your bank account and you are legally barred from taking even one penny out. Instead, the bank totals the account for the day and then sends all of the money to the IRS within 21 days. The only way you might survive a bank levy is if you have more money in the account than you owe in taxes. Even so, you are going to be one unhappy camper.

An IRS levy is not restricted to bank accounts. The IRS can go after practically anything including homes, cars, cash value of insurance policies, accounts receivable, retirement benefits and so on. Even if the IRS has no right to file a levy on the particular asset, the agency is known for doing it anyway. You owe Uncle Sam money and the IRS will do what it takes to get it.

An IRS levy can be terrifying, but you will see it coming before it happens. Before hitting you with a levy, the IRS must assess taxes owed, send you a notice of the amount and demand to pay within ten days, wait for the due date to pass and then send you a final notice. If you blow through all of these warnings, you are making a huge mistake.

If you are hit with an IRS levy, you need to ...

Click here to read the rest of this article from BusinessTaxRecovery.com

Local Opinions
Tax Payers in Utah shared their opinions about IRS Survey
Have you had experience dealing with the IRS and their customer service reps?
Yes: 77%
How would you rate your experience?
Absolute disaster: 35%
Somewhat negative: 21%
Uneventful: 28%
Somewhat pleasant: 7%
Pleasant: 7%
What was the subject of your most recent communication with the IRS?
Making/scheduling payment: 14%
Disputing taxes owed: 25%
Investigating information: 32%
Dealing with lien/levy: 3%
Responding to a letter/demand: 7%
Other: 17%
Source: Survey.com