Can the IRS Seize Your Property for Not Paying Your Taxes?
Not filing or not paying your taxes can have serious implications, such as property seizures, penalties, and in some cases even jail. The taxpayer may also have to pay interest on the unpaid amount, from the due date of the payment to the day you pay the amount in full. The IRS can also take a portion of your wages, social security, bank accounts and many other assets until the debt is cleared or you have made some sort of other agreement with them. If you have received any type of IRS notice, the tax attorneys at the Law Offices of Nick Nemeth can help.
Do not Lose Your Property and Assets to the IRS!
When taxes are not paid, the federal government will send you a notice to pay the liability and failure to do so may result in a Federal Tax Lien being filed against you. If you are still unable to pay what’s owed, the IRS will eventually send a “Final Notice of Intent to Levy and Notice of Your Right to a Hearing.” If you do not file a timely Collection Due Process Appeal or resolve your outstanding IRS debt in some other way within 30 days of this notice, collection activity may begin. This may include levies, garnishments, and seizure of assets including income, bank accounts, retirement funds and even social security.
Need IRS Tax Advice? Our Attorney Can Help!
Even if you have received threatening notices from the IRS, it’s not too late. The IRS understands that sometimes there are reasons a taxpayer might not be able to pay their tax debt, and hence, there are a variety of options to resolve that debt. Our experienced tax relief attorneys can represent your case and help you settle your IRS tax debt. To schedule a free consultation with one of of our IRS tax attorneys, fill out our Free Case Evaluation Form or simply call (972) 426-2553.