The good news for people facing liens and levies is that it is possible to avoid these problems.
Atlanta, GA (PRWEB) February 19, 2013
CTR’s Atlanta tax attorney is advising taxpayers in Georgia to respond quickly to liens and levies. These actions taken by the IRS can have strong negative effects on taxpayers, both financially and in their lifestyles.
“The good news for people facing liens and levies is that it is possible to avoid these problems,” said a CTR spokesperson. “Understanding what this means and what can be done about it is the first step toward freedom.”
CTR recommends that taxpayers seek help with debt collection efforts as soon as they receive notice of them to delay any further action. IRS liens give the IRS priority over all other creditors when it comes to holding or seizing property and assets. California tax lawyers warn individuals in the Sunnyvale area that liens damage credit ratings and stay on credit reports for 7 years. Liens can be released if the debt is satisfied.
CTR is working to inform taxpayers of the importance of rapid response to liens to avoid levy action. A levy could allow the IRS to seize money in bank accounts, take state income tax refunds and any payments normally received from the federal government. First, a bank freezes the taxpayer’s accounts for 21 days. If the debt is resolved within that time period, the freeze can be lifted. Otherwise the funds will be sent to the IRS.
Tax attorneys in California are making sure taxpayers living in Palo Alto are aware that the IRS can even seize and sell any property owned during a levy process. This can change a taxpayer’s life drastically, including losing a car or a house.
“In a difficult economy like this, taxpayers cannot afford to lose part of their paychecks,” quoted a CTR spokesperson. “Every penny counts and so people can’t waste time in getting wage garnishment stopped through settlement.”
CTR advises taxpayers to watch for notices of wage garnishment. This is a specific type of levy that the IRS can employ in which work earnings are withheld until the debt is fully paid. Texas residents calling a Dallas tax attorney should determine their debt resolution options to start receiving their full income again.
CTR offers tax debt resolution and tax services for individuals and businesses across the United States. The company uses a three step program to create personalized strategies to help taxpayers settle their IRS debt. The company offers many services, including: state and federal tax debt resolution, IRS audit defense, tax preparation and bookkeeping.