Tax Relief: Irs Tax Levy

As with all problems, ignoring Internal Revenue Service tax problems will not make them go away! There is no tax relief for ignoring tax issues and this kind of attitude can lead to some very serious repercussions. The IRS has many collection tools that can be used to get what they believe is owed to them and they will use them!

The Internal Revenue Service can institute a lien against your property, disabling your ability to sell it, garnish your wages, take money from any of your bank accounts and even remove stocks from your broker. If you find yourself in any of these situations, you must seek tax relief from someone who is knowledgeable about tax matters and the IRS’s machinations.


Tax laws in the US give power to the IRS to subject a third party (other people) who has any control over assets belonging to you, to give your assets to them. For instance, the IRS might send a Notice of Third Party Levy to the broker who keeps your stock portfolio. He will, in turn, forbid you to trade on your stocks for a twenty-one day freeze. At the end of the freeze period, your stockbroker will have to sell the stocks on behalf of the IRS and hand the money to the Internal Revenue Service. The same applies to your bank accounts, as soon as the IRS manages to locate them.

The only real way for tax relief from imposed Notice of Third Party Levy is to seek professional help. Once the Levy has been paid to the IRS, there is no way to negotiate a lower rate.

By: N.F.Centeno

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