If you owe a significant amount in back taxes, there are many ways that the IRS can collect, and many of them may come as quite a surprise to you. Here are just a few of the methods the IRS uses to collect on its debts.
- They can place a property lien on your property, including your home or your vehicle. With this lien, they can repossess your property if you don’t pay what you owe in back taxes.
- Instead of a lien, the IRS can also place a property levy on your property, including your home, vehicles, retirement accounts or boat. Instead of losing your entire property as before, you will lose one or several assets to cover your debt if you do not pay.
- The IRS can also require your employer to send them your paycheck instead of giving it to you, which is called wage garnishment.
If you have back taxes and have experienced any of the above or think you may in the near future, call Levy Tax Help today for tax relief.
