When a taxpayer has unpaid taxes the IRS has the ability to seize assets he owns to pay the tax debt.
The IRS can apply an IRS Garnishment of Wages or other aggressive collection actions on source(s) of income that include, but are certainly not limited to, fees, commissions, and bonuses the taxpayer earns from the moment the levy is enforced until the tax debt is paid in full. This is known as the IRS Garnishing Wages. The IRS may also issue a Garnishment of Bank Account Assets. Call us now for IRS Garnishment Help at 888.251.8900.
Where property is concerned, however, there are some limitations on what the government can seize. The taxpayer's residence cannot be seized by the IRS without first getting written approval from a magistrate or a federal judge. Nor can any personal property or real property that he uses for business purposes be taken away without first receiving written approval from an IRS district director or an assistant director.
There are also other forms of personal property that cannot be taken away from the taxpayer and that are exempt from any form of tax levy. These include some of the following:
- Any school clothes or books
- IRS cannot take fuel, furniture, provisions or personal effects up to certain amounts
- IRS cannot take unemployment benefits that the taxpayer may be receiving
- Anything relating to the taxpayer's business - such as tools of her trade, any books related to his business and the like IRS cannot seize any undelivered mail. However, the IRS has been known to have an IRS agent stationed at a place of business and watch the opening of mail for potential checks or income
- IRS cannot seize any of the taxpayer's pension or certain annuities
- IRS cannot seize any of his worker's compensation
- IRS cannot seize any of his judgments for support in relation to any minor dependents
It is extremely beneficial for the taxpayer to fully understand how tax levies actually work. When he has a levy on his wages or salary this levy will have an effect on his wages or salary until the tax debt is paid in full. Call us now for IRS Garnishment Help at 888.858.8933.