What To Do If Your Property Has Been Seized

The IRS can be notoriously difficult to deal with when it comes to tax debt collection, and if you are unprepared for the onslaught of collection services they can employ, you could be dealing with a lien or levy, two of the IRS’ means of property seizure. A lien is a legal claim on property, such as real estate, personal property or financial assets. In the case of a lien, the government is not directly taking something from you, but they could limit your access to it, while also negatively impacting your credit score. A levy, on the other hand, is when the government physically takes your property.

Depending on your financial situation, the IRS can make things difficult when you’re likely already struggling to make ends meet. If you have had your property seized or have tax debt that you need to pay off, contact the tax resolution expert at Inside Out Tax Resolution Services for help today.

Properties That Can Be Seized

The IRS can seize a wide variety of incomes and properties to pay off your remaining tax debt. In order to gain access to any of your property, the IRS must first send you a Notice and Demand for Payment, which is essentially a tax bill. If you fail to pay that, the IRS will then send you a Final Notice of Intent to Levy and Notice of Your Right to a Hearing, notifying you that levy will usually be the next action after 30 days. Once you get this notification, you can help your situation by requesting an appeal, paying off your remaining tax debt, or getting in contact with the tax resolution expert here at Inside Out Tax Resolution Services. We can help resolve what the IRS says you owe by negotiating with the IRS directly.

If you have missed your chance to appeal or resolve your tax debt, then the IRS will be in a position to levy. Their first step could be to garnish your wages. It may stop here, or it could go further. The IRS could begin seizing property, including but not limited to luxury vehicles like cars and boats, properties, bank accounts, retirement accounts, dividends, rental incomes, accounts receivables, the cash value of your life insurance, or commissions. 

How to Fight Back

If the IRS has begun seizing your property, you need to act quickly to minimize the damage. Here at Inside Out Tax Resolution Services, we specialize in dealing directly with the IRS so that you don’t have to. Our tax resolution specialist is an expert in resolving difficult situations with the IRS because he used to work for the IRS. His intimate knowledge of the inner workings of the IRS allows us to work with them to resolve your tax debt, and in most cases, allow you to keep your property.

Don’t let your tax debt become a bigger problem than it needs to be! Let the tax resolution expert here at Inside Out Tax Resolution Services deal with the IRS for you so that you can easily pay off your tax debt and keep control of your property. Give us a call today to get a free 30-minute consultation with our tax resolution specialist.