When you owe the IRS, there are two seizure methods the IRS will use to forcibly take your money.
Garnishing your Wages
What is a Wage Garnishment?
A Wage Garnishment is when the IRS forces your employer to send a portion, if not all of your pay to the IRS. In rare cases the IRS can take 100% of your paycheck. The IRS can also garnish vendors or accounts receivables of a business and shut off the income flow for a business – effectively killing it.
It is VERY important to address these issues right away as these cases are already ‘on fire’.
At Daniel Henn CPA, PA, we understand the urgency associated with wage garnishments and work quickly to remove them to protect your livelihood and assets.
Levying your Bank Accounts
What is a Bank Levy?
The IRS will do a wide search of any bank accounts connected to your TIN (Tax Identification Number) and will levy all accounts connected to your Social Security Number (SSN), EIN or ITIN.
These are VERY URGENT CASES as there are ONLY 21 days in which to contest a bank levy and negotiate for a full or partial release of funds. After the 21 days have passed, the IRS hardly ever issues refunds. State tax agencies often only allow 10 days to contest a bank levy.
At Daniel Henn CPA, PA, we know how to release bank levys and get your money back.
Ready to Schedule your FREE Strategy Session with Dan?
At Daniel Henn, CPA, PA, we believe that your certified public accountant should inspire comfort and confidence that all of your tax related maters are being resolved. If you need help, Dan offers a FREE Strategy Session to personally evaluate your specific tax situation, obtain all relevant information necessary, and recommend the best course of action for your personal scenario.
Our schedule is very full…but if you call us at (321) 684-7800 or email us we’ll give you two options for coming in right away! We will NOT make dealing with a tax professional as painful as it’s been in the past!