Top 5 Ways the IRS Can Forcibly Collect Your Back Taxes

When the IRS Forcibly Collects Back Taxes

Back taxes that remain unpaid after repeated reminders from the IRS can be collected through forcible collection actions.

Top 5 Ways IRS Forcibly Collects Back Taxes

• If you receive a notice regarding an assessed balance, it means that the IRS has discovered that you owe back taxes and will pursue collection efforts if you do not take action.

• The IRS may use the following five ways to forcibly collect what you owe:

-Wage Garnishment

-Bank Levy

-Property Seizure

-Refund Offset

-Levy on Savings Accounts

Wage Garnishment

A common method the IRS uses to collect back taxes is to

garnish a taxpayer’s wages. Under a wage garnishment, the IRS takes funds from the debtor’s paycheck each pay period.

Bank Levy

Another damaging way the IRS collects back taxes is with a bank levy. Under a bank levy, the IRS informs the taxpayer’s bank about the tax

debt and asks them to transfer a specific amount to them.

Property Seizure

The IRS can seize and sell a taxpayer’s property, such as a

house, car or boat to collect back taxes.

Refund Offset

When an individual has tax debt and they are due a tax refund, the IRS will offset that refund. This means that they will keep the refund

amount and put it toward the taxpayer’s unpaid balance.

Levy on Savings Accounts

Your savings accounts are not beyond the reach of the IRS. To collect back taxes, they may tap into your savings accounts,

including your IRA .

for more info log on to www.taxassistancegroup.org

This is basic information on how the IRS Can Forcibly Collect Back Taxes. More on the way, so stay connected

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