If you owe back taxes to the IRS, you may be at risk of IRS Levies and Seizures. A levy is a legal seizure of your assets to satisfy a tax debt, while a seizure is the physical takeover of your assets by the IRS. IRS Levies and Seizures can be a stressful and overwhelming experience, but understanding your rights and options can help you navigate the process.

How IRS Levies and Seizures Work

The IRS can levy your assets, including bank accounts, wages, and property, to collect unpaid taxes. Before a levy or seizure can occur, the IRS must follow a specific procedure, which includes:

• Assessing the tax debt and sending a notice to the taxpayer
• Waiting 30 days for the taxpayer to respond or pay the debt
• Sending a final notice of intent to levy
• Waiting 30 days before taking action

Consequences of IRS Levies and Seizures

IRS Levies and Seizures can have severe consequences, including:

• Frozen bank accounts, making it difficult to pay bills or access funds
• Reduced wages, impacting your ability to support yourself and your family
• Loss of property, including homes, cars, and other assets
• Damage to your credit score and financial reputation