IRS levy on my bank account: When can I use it again?

My response to a reader’s question about what happens to your bank account after the IRS hits it with a levy.
The IRS has levied my bank account and there was not enough funds to cover the total levy. Will the IRS levy all future deposits until it is satisfied or can I continue to deposit [...]

IRS collection threats: Myth vs. Reality

My clients with IRS collection problem come to me with different ideas about what will happen to them because they did not pay their taxes.  Is the IRS going to show up one day and seize my house?  Levy on my income so I cannot provide for my family?  Shut down my business?  When do [...]

IRS problems? 3 things to know before you jump in.

The best way to get relief from an IRS collection problem is to consider the complete picture before jumping in.  A quick way out may be desired, but it is important to look carefully before you leap.
Here are three things that I recommend that you carefully consider before taking on an IRS problem:
(1)     [...]

Should Veterans’ disability benefits be included in an IRS installment agreement or compromise?

I received a great question from a reader about whether Veteran’s disability benefits should be included in the value of an IRS installment agreement or offer in compromise.
Although the question is directed to Veterans’ disability benefits, my answer also applies to those with unemployment and workers’ compensation benefits.  Here is the question:
I owe the IRS over $50,000 [...]

3 ways that an IRS levy will surprise you

If you owe the IRS back taxes, the IRS is required to give you a 30 day notice before they can start to levy and seize your property.  This warning of levy action is required by law (Section 6330 of the Internal Revenue Code).
The final IRS warning letter will have the words “Final Notice of [...]

Are your social security benefits being levied by the IRS?

I was recently interviewed by a journalist for a story about the hardships of having the IRS levy a retiree’s social security benefits.
The reporter, who is courteous and professional, would like to speak to anyone who has been affected by the IRS taking their social security.  
If you would be interested in talking to this reporter, please email me at howard@voorheeslevy.com and [...]

Defaulted on your IRS installment agreement? Where do you turn now?

You promised the IRS a monthly payment that your budget could no longer bear.  Or you tried so hard to repay your back taxes that you fall behind on this year’s return.  Your intentions are good, but this has caused your IRS installment agreement to default.  Where do you turn next?
First, it is important to know that the IRS must send you a notice of [...]

5 Things You Should Know About the IRS

As a member of the Cincinnati Bar Association, it was exciting to see my article about solutions to today’s IRS collection problems as the cover story in March’s monthly bar journal.   
Here is a brief overview of the article - 5 Things You Should Know About the IRS:
(1)     The offer in compromise program is not as advertised on television.
(2)     IRS seizures of houses, personal [...]

IRS problems and have credit card debt? Tips for handling both

I received a call today from an enrolled agent for my help with a client who was having problems not only with the IRS, but credit cards as well.  As usual, my enrolled agent friend got it right – bankruptcy was likely on the horizon for us to take care of both problems simultaneously.
Two basic rules on owing the [...]

What’s the difference between an IRS tax lien and a tax levy?

The IRS has two ways to collect back taxes:  a Federal tax lien and tax levy.  A tax lien is different from an IRS levy – the lien does not result in the IRS taking your property from you.  That is done by levy.
You have rights to defend the filing of a lien, and prevent the issuance of a levy.  To be able to [...]

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