Notices of Intent to Levy
Any notice of intent to levy is cause for concern. Painful
as it is, the situation is much simpler to deal with than stopping a
levy once it is actually in place. If you do nothing terrible
things ARE going to happen to you. All this is done
automatically by computer without human input or intervention.
The IRS software will match the names and addresses of your
employers, banks, credit unions, other financial institutions,
pension payors, Civil Service if you worked or retired from there,
Social Security Administration, etc. In other words, they will
quickly identify one or more income sources and one or more
financial institutions. Thirty days after mailing of the Final
Notice of Intent, they can and will seize your earnings or bank
account up to the amount claimed by the IRS.
If you are in a community property state and you have an old tax
debt, the IRS can also seize up to 50% of your spouse's income
without prior notice to the spouse. Just try explaining that.
I urge you to call us immediately on receiving any of the notices
above or an actual levy. If you have a levy now, you can read
about the levy here.
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