Stay out of Tax Levy Way

Did you know that the IRS also has the power to enforce a tax levy on your earnings if you owe them money? They are going to send you a notice and demand for tax payment after determining the debt. After that, if still you do not make the payments, the IRS would send a final notice that is going to give you a 30 day grace period to resolve the back taxes. Do this before they would enforce a tax levy on your income. Again, if you fail to respond to the reminder of the IRS, the government is going to enforce the law in order to fulfill your debt.

The tax levy process would begin on your salary when the IRS sends a wage levy notice to your place of work. Some and even half of your earnings are going to be confiscated and then submitted to the government. You would just be left enough with some money to cover your basic needs. The levy remains until the IRS gets all the money you owed with the tax debt. This includes any interest and fees incurred along the process.

Submit your annual income taxes right on the schedule always. Do this to prevent the possibility of getting in trouble of tax debt with the IRS. Maintain a clean credit report, stay out of tax lien, and never fall victim to tax levy.