federal tax levies, federal tax levy

1. Bankruptcy – Tips In 60 Seconds
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Federal Tax Levy

2. When you owe money to the
IRS, they can levy your
property, bank accounts, and
other assets

3. They can also garnish your
paycheck

4. Before they do this, however,
they must send you a "Notice
of Intent to Levy"

5. This notice must be sent at least
30 days before the levy can be
executed

6. By law, the IRS can levy up to
70% of your gross income

7. However, you do have the right
to a hearing – in front of an
IRS manager

8. If you lose the hearing, monies
will be deducted from your
paycheck

9. Once the deductions begin, they
will continue until your debt is
repaid.

10. For more information about federal tax
levies, visit our website.
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