TAX
LEVIES
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| TAX LEVIES |
Tax Levies is an
administrative action taken by the IRS. IRS uses its power if anyone donot pay
the taxes or make any illegal arrangement to settle down the tax debt. In such
cases IRS takes some legal steps and seizes the property belongs to the person to
satisfy tax debt.
For instance:
- The IRS can seize and sell property( such as house, car) of any person who has not paid his taxes.
- The IRS can seize those property of yours, which are your personal but may have held by someone else.(such as your wages, retirement accounts, dividends, bank accounts, licenses, rental income, accounts receivables, the cash loan value of your life insurance, or commissions).
IRS takes the above
actions when these requirements are met:
- The IRS assessed the tax and sent you a notice or demand for payment, which is neglected or refused by you.
- The IRS will send you a final notice of your right to A hearing, at least 30 days before the levy. IRS will send you the notice on your registered mail or address.
If the IRS levies your state
tax refund, you may receive a Notice of Levy on Your State Tax Refund, Notice
of Your Right to Hearing after the levy.
IRS will release your
property, wages or federal payements only when:
- The levy is released
- Person pay off his tax.
Your bank account must
hold the funds that your have in your bank deposit If IRS levies your bank
account.This time is of 21 days and will be consider as holding time, which
allows time to resolve any issues.If this money applies to the IRS, the bank
would sent it to them.
If you are facing such
problems,please come to us. It is a serious matter and should be resolved by
the expertise. Our team of creative tax resolution will provide you best
services to make your life debt free..
Contact us today to schedule an appointment with a specialist of Creative
Tax Solutions.
TAX
LIENS
 |
| TAX LIENS |
A Tax Lien is a lien imposed by law upon a property to secure the payment
of taxes. A tax lien may be imposed on the properties which are found guilty,
it could be real as well as personal property. Lien is imposed as result of non
payment of taxes.
IRS can legally claim to your property as security or payment for the
taxes one has not paid. It is the legal right of the IRS to sell the property
if one fails to pay the taxes. A notice of lien filed only after IRS assesses the liability.IRS
send you a notice of demand for payment which need to be responded within 10
days. If someone fails to pay the full payment of debt,IRS notifies about the
lien.
Once these requirements
are met, a lien is created. Through this lien IRS publicly notifies that all
your property is under the IRS claim.
This notice is used by
courts to establish priority in certain situations, such as bankruptcy
proceedings or sales of real estate.
The lien attaches to all
your property (such as your house or car) and to all your rights to property
(such as your accounts receivable, if you are a business).
We recommend people to solve
their problems by taking the help of an established tax resolutions companies.
They can help you legally. Creative tax resolution has the team of experienced
expertise who are qualified enough to sort out your problems.
