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Understanding the impact of an IRS tax levy on your finances

Georgia residents who are dealing with IRS issues may be interested in some information on our firm's tax law practice and how it may be able to provide help. Without effective representation, actions by the IRS may seriously affect your finances.

When your taxes have not been properly paid, the IRS may institute a tax levy against you. This could be a lien against your property or preventing the sale or refinancing of your home. Another way that the tax levy could affect you is through garnishing your wages or bank accounts. The government may also move forward with seizing your other assets in order to cover the back taxes.

If final notice of a proposed tax levy has been sent by the IRS, you generally only have 30 days to begin the appeal process. Our firm has experience with these issues and can assist with stopping the IRS from seizing your property, bank accounts and home. We may also be able to stop the wage garnishment if necessary. When the deadline has been missed, our insight into the process of negotiating with the IRS may be helpful in returning your property or reversing the penalties.

A former IRS attorney whose hands-on experience allows him to argue effectively on the taxpayer's behalf established our firm. This experience may be able to help with the reduction of penalties and handle other complex tax issues.

If you are facing a wage levy or an IRS audit, we may be able to help. For more information about our firm's IRS levy practice, please visit our page on that practice area.

Source: Bomar Law Firm, LLC, "IRS Levy", December 15, 2014

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