The IRS Collection is Back! Now sending Intent to Levy notices.

Los Angeles CA

16 June, 2021

10:48 PM

Description

The IRS Collection is Back! The IRS switched its lenient position during COVID-19 and is now starting to send out millions of Final Notices of Intent to Levy (LT11). Be prepared to take action to protect your bank accounts, wages, and other assets from the IRS! Automated levies have been halted since April 2020 due to COVID. The automated levy program is now returning. A levy occurs when the IRS collects your back taxes through “seizing” your real or personal property. Typically, levies are made on financial accounts held for you by others, such as a bank, a stockbroker, or an employer. Levies are placed on bank accounts, social security benefits, and retirement income. In addition to any properties, a levy can attach to any future federal tax refunds or state income tax refunds that you are to receive, in order to satisfy the federal tax liability. About 45 days later from the receipt of the letter, if the taxpayer does not contact the IRS for resolution, a levy will take place. In 2021, IRS announces plans to hire 87,000 new employees, doubling their workforce over the next 6 years. We expect that IRS will ramp up its enforcement actions. If you or someone you know have received the IRS or state levy notices, negotiate with the IRS to settle the back taxes for the lowest amount possible or seek other resolution options. You wouldn’t go to court without a lawyer.  For a free consultation by a CPA and Certified Tax Resolution Specialist, please feel free to contact us at either (213) 600-7388 or by email to [email protected]. Visit https://aceplustaxresolution.c...