If you have received a notice from the IRS threatening to seize personal property or business assets, it’s not something to be taken lightly—nor is it a matter to take into your own hands. If you have a tax liability that you’re currently unable to resolve, the IRS may very well make good on its promise to seize your property, which can make life very difficult for you. The best way to deal with IRS seizure threats is to work with an experienced tax professional. The Highland Tax Group has helped many clients successfully avoid IRS seizures, and we will work with you (and for you) to help you find the best alternatives for resolving your tax problems.
The IRS may exercise its option to seize and liquidate your property after previous attempts at collecting payment have been ignored. The process generally works as follows:
The IRS may seize any of a number of assets that it believes will resolve your tax debt. Examples include, but are not limited to:
The most common way for us to respond to an IRS seizure threat is to submit a Request for a Collection Due Process (CDP) hearing. We will conduct a thorough review of your tax problem and financial situation to determine the best strategy for the hearing. At the hearing, we’ll present a case as to why the IRS should not attempt to seize your property. Strategies may include:
There are a wide range of options that we can utilize to help you avoid having your property seized by the IRS. If you have received a Notice of Intent to Levy, your best defense is to respond with the help of an experienced tax professional. Contact us using the form below to see how we can help.