Internal Revenue Service Levy Garnishments

Another way that the IRS commonly collects outstanding debts from taxpayers is to use a levy garnishment. While this sounds similar to a wage garnishment, which involves taking a percentage of your income from each paycheck through your employer, it is quite different. Instead of taking your income, the IRS uses a levy to seize your property to collect your debts.

What Is a Levy Garnishment?

While a lien is a legal claim used to secure a debt, a levy actually allows the IRS to seize your property in order to repay your debts. Property can be maintained if there is a lien, but when a levy is involved, you might lose your home or other assets. Understanding your rights is essential whenever tax collection methods are being used against you to satisfy a debt. Contact Weinkauf P.C. to schedule a consultation to discuss your options.

Some of the assets and property that the IRS can seize with a levy include homes, vehicles, boats, cash in bank accounts, retirement accounts, accounts receivable, and rental income. The levy can be issued once you have failed to or refused to pay the debt and the IRS has sent you a Final Notice of Intent to Levy and Notice of a Right to a Hearing. If you owe money to the IRS and are worried about a levy garnishment or if the IRS has sent you a notice about a demand for payment, you can talk to Attorney Weinkauf and find a solution that is right for you.

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Welcome to Attorney Logan Weinkauf’s website, your trusted source for comprehensive bankruptcy services. Our experienced team specializes in a wide range of legal matters, including asset protection, Chapter 13 bankruptcy, debt relief, foreclosure prevention, loan modification, short sales, wage garnishment, credit card debt relief, debt collector harassment, eliminating second mortgages, levy garnishment, rebuilding credit, Chapter 7 bankruptcy, debt negotiation, lien release, repossession, tax matters, and family law, wills, and trusts. We understand the overwhelming challenges that financial difficulties can bring, and we are here to provide you with expert guidance and representation. Trust Attorney Logan Weinkauf to advocate for your rights and help you navigate through these complex legal processes with confidence.