In the event that the Internal Revenue Service has placed an administrative levy on your property and your property is being seized, it is of the utmost importance to have the most qualified tax expert and specialists at your disposal, immediately. The Austin IRS enrolled agents and tax experts of Escobar & Associates have decades of experience dealing with the most dire tax cases and will use their exceptional knowledge and expertise to fight for your rights.
IRS Seized Property
By the time the IRS attempts to seize your property, they should have made several attempts to contact you in order to resolve the alleged tax debt; property seizure is the last ditch effort the IRS will use if they believe you have been uncooperative in resolving the tax debt. After your unpaid taxes became delinquent, a lien would have been filed on your property. If the tax debt remains unsatisfied, the IRS will place a levy and seize your assets. This can include real property such as vehicles, boats and real estate, belongings in your home as well as property being held elsewhere such as wages, the cash value of your life insurance policy, your retirement accounts, etc. The IRS will continue to levy your property and liquidate your assets until the debt has been satisfied.
If you have just received a Final Notice and the levy is impending, you have a limited amount of time to request a hearing to contest the seizure of your property. There are some common defense strategies to consider. For example, you could demonstrate that the IRS records are incorrect, as you have previously satisfied the debt. The statute of limitations for the IRS to collect on the debt has already expired. Your spouse is the one responsible for the debt. Your tax obligation was incorrectly assessed and needs to be reviewed. You are in the middle of a bankruptcy. The IRS will review the information from the hearing and make a judgment on the case. If the judgment is not a favorable one, you may file an appeal. If the IRS is currently seizing your property, you should have your case fully evaluated to see what options may exist to alleviate the burden of crushing tax debt and property loss.
Having superior representation during this time is a necessity. For the best possible outcome, having a comprehensive team of tax specialists and IRS Enrolled Agents to lead you through the process is imperative. Escobar & Associates are your IRS Austin, TX, experts. Contact these professionals for a free consultation and take charge of your financial future.