Hiring Tax Debt Advisors, Inc. for Tempe AZ IRS Levy Help
If you are facing an IRS levy in Tempe, AZ, you may be feeling overwhelmed and stressed. You may be wondering what your options are and how you can get the IRS to stop garnishing your wages or seizing your assets.
The good news is that there is help available. Tax Debt Advisors, Inc. is a leading tax resolution firm right here near Tempe AZ that has helped thousands of taxpayers resolve their tax problems, including IRS levies.
In this blog post, it will be discussed what an IRS levy is, how it can affect you, and what you can do to stop it. It will also discuss how Tax Debt Advisors, Inc. can help you get the IRS off your back and get your life back on track.
What is an IRS Levy?
An IRS levy is a legal action that allows the IRS to collect a tax debt by seizing your assets. The IRS can levy your wages, bank accounts, retirement accounts, and even your property.
If the IRS levies your wages, the amount that is withheld from your paycheck will be based on the amount of your debt and your disposable income. For example, if you owe the IRS $10,000 and your disposable income is $2,000 per month, the IRS may garnish your wages for $500 per month unless you have been avoiding them for too long then they may try and be more aggressive.
If the IRS levies your bank account, the entire balance of your account will be seized. If the IRS levies your retirement account, the entire balance of your account will be seized, up to the amount of your tax debt.
If the IRS levies your property, the IRS will seize the property and sell it to pay off your tax debt.
How Can an IRS Levy Affect You?
An IRS levy can have a devastating impact on your finances and your life. A wage garnishment can make it difficult to make ends meet, and a bank account levy can leave you without access to your money. A retirement account levy can leave you without a retirement nest egg, and a property seizure can leave you homeless.
In addition to the financial impact, an IRS levy can also have a negative impact on your ability to borrow money. A wage garnishment or a bank account levy can stay on your credit report for seven years, which can make it difficult to get a loan or a credit card.
What Can You Do to Stop an IRS Levy?
If you to stop IRS levy in Tempe AZ, there are a few things you can do to stop it.
- File your tax returns. The IRS cannot levy your wages or assets if you do not owe any taxes. If you have not filed your tax returns, the first step is to file them as soon as possible.
- Pay your taxes. If you owe taxes, the best way to stop an IRS levy is to pay them. You can pay your taxes in full, or you can set up a payment plan with the IRS.
- Request a Currently Non-Collectible Status. If you cannot afford to pay your taxes, you can request a Currently Non-Collectible (CNC) status from the IRS. A CNC status will stop the IRS from taking any collection action against you, including levies.
- Hire a tax professional. If you are struggling to resolve your tax problems on your own, you may want to consider hiring a tax professional. A tax professional can help you file your tax returns, negotiate a payment plan with the IRS, or request a CNC status. Scott Allen EA of Tax Debt Advisors, Inc can review all avilable options to you.
How Can Tax Debt Advisors, Inc. Help You Stop IRS Levy Tempe AZ?
Tax Debt Advisors, Inc. is a leading tax resolution firm that has helped thousands of taxpayers resolve their tax problems, including IRS levies.
They are a family of experienced tax professionals who can help you file your tax returns, negotiate a payment plan with the IRS, or request a CNC status. They will work with you every step of the way to get the IRS off your back and get your life back on track.
If you are facing an IRS levy, contact Tax Debt Advisors, Inc. today for a free consultation. They will help you understand your options and develop a plan to stop the IRS levy and get your life back on track.
To learn more about how Tax Debt Advisors, Inc. can help you stop an IRS levy, contact them today for a free consultation. They will review your case and develop a plan to get the IRS off your back and get your life back on track.
Call them at 480-926-9300 or visit our website at www.taxdebtadvisors.com.