Understanding a Notice of Intent to Levy: Final Notice and Why You Should Hire an Attorney

If you’ve received a “Notice of Intent to Levy-Final Notice,” it’s a situation that requires immediate attention. This notice, sent by the IRS, indicates that your financial assets, wages, or property are at risk of being seized due to unpaid taxes. Navigating the complexities of the tax system can be overwhelming, especially when dealing with such a serious legal threat. 

What is a Notice of Intent to Levy Final Notice?

A Notice of Intent to Levy-Final Notice is a formal communication from the IRS stating that they intend to seize your assets to satisfy an outstanding tax debt. The IRS doesn’t send this notice without prior communication. Before this final notice, you would have received various letters and reminders about your unpaid taxes, giving you ample opportunity to resolve the issue. However, once this notice is issued, time is running out, and the consequences are severe if no action is taken.

This notice usually comes after a long period of unpaid taxes or failure to respond to previous IRS communications. It serves as a warning that the IRS has the legal right to take drastic measures to collect the debt. In most cases, you have 30 days from the date of the notice to take action before the levy is implemented.

What Can the IRS Seize After a Notice of Intent to Levy Final Notice?

The IRS has broad powers to seize various types of assets once a Notice of Intent to Levy Final Notice has been sent. These assets may include:

1. Wages: The IRS can garnish a portion of your wages directly from your paycheck.
2. Bank Accounts: Your bank accounts can be frozen and the funds can be seized to pay off your debt.
3. Social Security Benefits: Even Social Security payments can be subject to levy.
4. Property: The IRS can seize personal property, including real estate, cars, or other valuable assets.
5. Retirement Accounts: In some cases, the IRS can even levy funds from retirement accounts, though there are some protections in place.

Given the broad range of assets that can be targeted, the implications of this notice are significant, threatening your financial stability and personal well-being.

The Importance of Acting Quickly After Receiving a Notice of Intent to Levy Final Notice

When you receive a Notice of Intent to Levy-Final Notice, you are on a ticking clock. The IRS typically provides 30 days from the date of the notice to address the issue. This is your last chance to resolve your tax debt before the IRS moves forward with the levy.

During these 30 days, you can take several steps to stop the levy, such as:

• Paying the debt in full
• Entering into an installment agreement
• Applying for an Offer in Compromise (OIC)
• Requesting a Collection Due Process (CDP) hearing
• Proving financial hardship

Each of these options has its own requirements and complexities, which can be daunting for someone unfamiliar with tax law. That’s why it’s critical to take immediate action to avoid the serious financial consequences that follow if the levy goes into effect.

Why You Should Hire an Attorney After Receiving a Notice of Intent to Levy Final Notice

Handling a Notice of Intent to Levy Final Notice on your own can be overwhelming, especially with the IRS breathing down your neck. The tax laws are complex, and making a mistake can lead to even greater financial trouble. Here’s why hiring an attorney is the best course of action.

In-Depth Knowledge of Tax Laws

While it may seem tempting to navigate the IRS system alone, tax law is intricate and full of nuances. An attorney who deals with tax issues regularly will have a thorough understanding of the laws and the procedures surrounding levies. They can assess your situation, provide clarity on your options, and advise on the best course of action to resolve your tax debt.

Negotiating with the IRS

An attorney can serve as your representative in dealings with the IRS, shielding you from making statements or actions that could worsen your situation. IRS agents are highly trained to collect debts and may push for actions that aren’t necessarily in your best interest. Your attorney can negotiate more favorable terms for repayment, or in some cases, even challenge the validity of the debt or levy.

By hiring an attorney, you gain a significant advantage in dealing with the IRS. Whether it’s negotiating an installment plan, applying for an Offer in Compromise, or proving financial hardship, an attorney can ensure that your rights are protected and that you aren’t paying more than you owe.

Filing for a Collection Due Process Hearing

After receiving a Notice of Intent to Levy Final Notice, one of your primary rights is to request a Collection Due Process (CDP) hearing. This hearing is a formal opportunity to challenge the levy and present your case. However, filing for this hearing and presenting your case effectively requires knowledge of both the IRS system and legal procedures.

An attorney can help you file the request for the hearing in a timely manner, as well as represent you during the hearing. They will gather the necessary documentation, prepare legal arguments, and ensure that your case is presented in the best possible light. This hearing is one of your last chances to stop the levy, so having a professional guide you through it is critical.

Exploring All Available Options

There are several ways to resolve a tax debt after receiving a Notice of Intent to Levy Final Notice, but not every option will work for every individual. An attorney will review your unique financial situation and explore all available avenues for resolving the debt, including:

• Installment Agreement: Setting up a manageable payment plan with the IRS
• Offer in Compromise (OIC): Negotiating a settlement for less than the total amount owed
• Financial Hardship: Demonstrating that paying the debt would cause you undue financial strain
• Innocent Spouse Relief: If applicable, this allows you to avoid being held responsible for a spouse’s tax debt

Without professional guidance, you may not be aware of all the options available to you, or worse, you could choose an option that doesn’t align with your financial capabilities, leading to more problems down the road.

Protecting Your Assets

One of the biggest fears after receiving a Notice of Intent to Levy Final Notice is the loss of your property, wages, and financial assets. An attorney can work to protect those assets, either by preventing the levy altogether or by negotiating a resolution that minimizes the impact on your finances.

In some cases, an attorney may even be able to reverse a levy that has already taken place by proving that the levy was issued in error or that your financial situation warrants relief.

Hire Witherspoon Law Office to Help with a Notice of Intent to Levy Final Notice

Receiving a Notice of Intent to Levy Final Notice is a serious and urgent matter. The IRS has the power to take drastic measures to collect unpaid taxes, including seizing your wages, bank accounts, and property. While you may feel overwhelmed, you don’t have to face this challenge alone.

Hiring Witherspoon Law Office is your best course of action when dealing with the IRS. They can help you navigate the complexities of tax law, negotiate with the IRS on your behalf, and work to protect your assets. With time running out, it’s essential to act quickly and get professional help before the IRS takes action that could have long-lasting financial consequences.

If you’ve received a Notice of Intent to Levy Final Notice, don’t wait until it’s too late. Contact Witherspoon Law Office today to discuss your options and take the necessary steps to resolve your tax issues.