Levies can really do a lot of damage and even ruin your life.
A levy is the IRS's way of getting your immediate attention.
What they are saying is, we have tried to communicate with you
but you have ignored us. Levies are used to seize your wages
and whatever other assets you have. If you own it, they can
take it. That includes checking accounts, auto's, stocks, bonds,
boats, paychecks, and even Social Security checks!
Imagine waking up one morning and finding all your bank accounts
have been cleaned out. They will take every dime. If this
amount did not cover what is owed, they'll keep taking your
money until you cover your tax liability. They know that levying
your bank account will cause checks to bounce, alerting many
people that you have tax problems. But they don't care! Their
sole objective is to collect the taxes owed. Period.
As bad as that is, a worse method is a wage levy (or garnishment).
That's when most of your pay check goes to the IRS, they don't
leave you enough to pay the bills, and most of your check
goes to the IRS each and every week until the debt is paid.
If that doesn't accomplish what they want, they'll pull out
all the stops. They'll seize your assets, and sell them at
auction. That includes everything you own; home, cars, boats,
jewelry, motorcycles, insurance polices, retirement funds,
anything of value.
We are often able to get those levies released and help you
get out of this terrible situation. Our goal is to get you
even with the IRS, with what you can afford, and let you start
life anew.
