When the IRS moves from collection notices to taking property, a tax problem has reached a serious stage. Bank accounts, wages, income streams, and in some cases physical property may become targets of federal tax collection.

Prendamano Tax Resolution & State Tax Advisory helps individuals and business owners respond to aggressive IRS collection action and determine what options may still be available. From our Melville office, we represent taxpayers throughout Long Island, Nassau County, Suffolk County, Queens, Brooklyn, and New York City.

An IRS levy is the legal seizure of property to satisfy unpaid tax debt. Depending on the circumstances, the IRS may levy wages, bank accounts, retirement income, and other property or rights to property. In more serious cases, the IRS may also seize physical assets, including vehicles or real estate.

A seizure is different from a federal tax lien. A lien establishes the government’s legal claim against property, while a levy or seizure is an actual collection action against property or funds. Understanding where you are in that process is important when deciding what to do next.

IRS enforcement generally follows a collection process involving notices and opportunities to address the liability. If you have received a Final Notice of Intent to Levy or another serious collection notice, it should not be ignored.

The right response depends on the facts of your case. That may involve reviewing whether the collection action followed proper procedures, evaluating appeal rights, establishing an appropriate payment arrangement, addressing financial hardship, or pursuing another tax-resolution strategy.

Even after a levy has occurred, there may be circumstances in which a release can be requested. A levy release, however, does not eliminate the underlying tax debt. The liability still needs to be resolved to reduce the risk of future collection activity.

At Prendamano Tax Resolution, we look at the entire situation, including the tax debt, filing compliance, income, expenses, assets, collection history, and any approaching deadlines.

If you are facing an IRS levy, threatened seizure, or other serious collection action in Melville, Huntington, Hicksville, Garden City, Mineola, Smithtown, Nassau County, Suffolk County, Queens, Brooklyn, or New York City, contact Prendamano Tax Resolution & State Tax Advisory to discuss your options.