The state of Tennessee has many different taxation guidelines for residents, companies, and non-residents. If a taxpayer fails to file taxes or pays them late, the IRS can pursue various collection activities including filing liens and levies. Hiring a good Tax Levy Lawyer in Tennessee can help prevent these actions from being taken against a taxpayer and protect their financial stability.
A tax levy is a claim the government makes against property, such as real estate or bank accounts, when an individual fails to pay their taxes. The property can be seized and sold to satisfy the debt. Unlike a lien, which is simply a legal claim against the property, a levy is an active collection procedure that can cause serious financial problems for the taxpayer. Generally, the IRS gives the taxpayer 21 days to get their money back before the levy is finalized. It is possible to have a tax levy reversed prior to its becoming final by agreeing to pay the amount owed, or proving that the levy will cause financial hardship. This type of solution requires a strong negotiation skills and a comprehensive knowledge of the various tax relief programs available.
In some cases, a tax lien will not be filed by the IRS. However, if the amount owed is significant, the IRS will levy assets to collect it. This can include paychecks, bank accounts, personal property, and even the proceeds of a business. A tax attorney will assist a client in avoiding a levy by negotiating an affordable payment plan with the IRS. They can also provide assistance in filing the necessary paperwork for a levy release.
The process of collecting outstanding tax debt can take several months or longer. The IRS typically sends several letters requesting payment and warning of consequences if the bill is not paid in full. Depending on the taxpayer’s situation, they may need to request a Collection Due Process hearing or face an audit. If a person is facing an IRS audit, it is best to consult with a tax lawyer as soon as they receive notice of the audit. This will ensure proper guidance and representation during the audit.
Having the right Tax Levy Lawyer in Tennessee can help a taxpayer avoid the most severe forms of collection action by the IRS. These penalties can be devastating to a person’s financial health, and the tax attorneys at Defense Tax Partners will work hard to have any liens or levy’s removed from your accounts and property as quickly as possible. They can help you obtain an affordable payment plan, file the necessary paperwork and negotiate with the IRS for any other debt relief options that may be available to you. Their services are available online, over the phone, and by video chat, so you don’t have to travel or miss important meetings to get help. They will make sure you understand all your options, so you can choose the one that best suits your needs.
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