Did you know that the IRS is the most aggressive collection agency in the entire world? Financial advisors regularly claim that it is virtually better to owe ANYONE other than the IRS because the IRS does not need to go through many of the traditional legal hoops that other creditors jump through to make collections. One of the most invasive and aggressive means of collecting money owed is a bank levy or wage garnishment.
Did the IRS hit you with a garnishment or levy? Click here to take a brief survey and see if you’re eligible for immediate relief.A bank levy means that your creditor goes directly into your bank account and pulls out your money to repay a partial or complete debt; while a wage garnishment is when money is taken directly out of your paycheck before you even get a chance to see it. If you owe money to a student loan creditor, credit card company, or are behind in alimony or child support payments, a wage garnishment or bank levy can happen only after multiple court appearances, giving you plenty of time and opportunity to fight your case. But if you owe the IRS, there is no court date. The IRS has the authority to go directly into your bank account or paycheck and take money with as little as a 30-day notice. Stephanie Marcellis of Houston, Texas told FreshStartInfo, “I got the notice in the mail that a bank levy was coming, but before I could even try to fix it, they took everything. They left about $200 in my account. I got evicted and was homeless for six months. It’s just crazy how they can do that. They took everything.”
If you owe the IRS back taxes, you could be at risk of garnishment or levy. Take our brief survey to evaluate your risk.The IRS does not have the right to leave you in a financial disaster, however. If you owe back tax and receive a notification of impending garnishment or levy, you must act immediately to protect yourself. The IRS requires you to prove that you would be at risk of major financial hardship if they move forward with a garnishment or levy. It’s important to know that the IRS can take more than just your money; they also have the authority go after your property including houses, boats, cars, and investment accounts. The only way to truly protect yourself from the IRS when you owe back taxes is to qualify for the Fresh Start Program. But, note that you must first apply for the Fresh Start Program to qualify for protection. Many people turn to tax relief firms to help form their cases and negotiate on their behalf to help their chances of acceptance.
Interested to see if you qualify for the IRS Fresh Start Program? Take our free survey now to check your eligibility!Especially if you have property and assets you need to protect, it’s essential that you partner with a tax professional when applying for the Fresh Start Program. A tax relief professional will be able to form your case and negotiate with the IRS for you to get the best possible deal with the IRS.