Naples IRS Wage Levy Attorney
Individuals and businesses are required to pay taxes, and failure to pay taxes can result in the IRS taking legal action to recover the money it is owed. There are multiple ways in which the IRS can seek to recover tax debt, including a wage levy. You can avoid a wage levy by seeking a payment plan with the IRS or requesting “Currently Not Collectible” status, which can allow you to defer tax payments. While interest and penalties can still accrue, you will not be at risk of the IRS taking legal action against you to recover the money you owe, and you will not be at risk of a wage levy. If a wage levy does happen, it is important to seek legal advice to have it released. An experienced Naples IRS wage levy attorney can learn more about your circumstances and advise you today.
What is an IRS Wage Levy
An IRS levy more broadly allows the IRS to legally seize the property of a person or entity that owes taxes. The IRS will use different types of levies for individuals and businesses, and wage levies are a common way in which the IRS seizes an individual’s property to pay tax debt. A wage levy is a legal tool through which the IRS will seize a portion of your wages until your tax debt is paid in full or until you work out an agreement with the IRS to pay your taxes. When the IRS levies your wages, a particular amount of your wages will be sent to the IRS monthly.
The IRS will not automatically begin levying your wages as soon as you have unpaid tax debt. The IRS is required to provide you with notice, and you will receive a Final Notice of Intent to Levy before your wages are seized. To prevent a levy, you should work with a tax lawyer who can negotiate an agreement with the IRS on your behalf. Once your wages are levied, you will need to pay your taxes, enter into an installment agreement with the IRS, or prove that the wage levy causes an undue hardship in order to have the levy released. There are other circumstances in which it may be possible to have a wage levy released that are less common. For example, if the statute of limitations has run out, the IRS may not be able to levy your wages to collect tax debt. The statute of limitations on most tax debt is ten years from the date of assessment.
Contact Ronald Cutler, P.A. for Assistance with an IRS Wage Levy
A wage levy can have significant consequences for a taxpayer, severely limiting that person’s ability to pay bills and to cover necessary costs for themselves and their family. If you are concerned about the possibility of a wage levy, have received a Final Notice of Intent to Levy, or you want to have a wage levy release, you should contact a Naples IRS wage levies attorney at Ronald Cutler, P.A. today.
