‘Notice of Intent to Levy’ is a notice that IRS sends if you have seriously delinquent tax debt that you haven’t tried to resolve and IRS has planned to seize your assets. The IRS must send you a notice the first time, and it cannot take your property unless it provides you notice in advance.
Before seizing your assets, the IRS must take the following steps:
The Notice of Intent to Levy conveys you the following things:
Once you receive the notice, contact your IRS tax attorney in Carlsbad CA and discuss the situation. Respond to the notice and request a CDP hearing only via writing.
The CDP hearing gives you some time to figure out a payment arrangement that works with their budget to pay off the IRS tax. You can use several options such as penalty abatement, innocent spouse relief, or another tax resolution option to reduce the amount you owe. You can also opt for an installment agreement to pay off the debt.
If you are requesting for CDP hearing too late, you may lose some important rights to negotiate a deal to stop the bank account levy.
You can also talk to your tax attorney in Carlsbad to talk about the different options available to prevent or delay the bank levy.