What is a Levy? IRS and Other Asset Levies Explained

Author: Vicki R. Bott, MBA, CPA | Feb 24, 2021 | Categories: Tax Troubles , Federal Tax Liens , Income Tax Lien , IRS Collection Tactics , IRS Problem , IRS Problems , IRS Tax Levy , Tax Levy , Tax Problems

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The IRS can seize your property, take money from your bank accounts, or sell your assets to satisfy the balance due. This is a levy of your property.

Tax Resolution and Your Finances: What is an Offer in Compromise?

Author: David F. Bott, CPA/ PFS | Jan 09, 2020 | Categories: Accounting Services , Back Taxes , Behind on Taxes , Can't Pay Taxes , Certified Public Accountants , CPA , CPA Firm , CPAs , Did not file income tax returns , Fear of the IRS , Income Tax Preparation , Income Tax Problem , Internal Revenue Service , IRS , IRS Audits , IRS Collection Tactics , IRS Problem Resolution Services , IRS Problems , IRS Tax Help , Late Tax Filing , Offer in Compromise , old income tax returns , Payroll Tax Problems , penalities and interest , Penalties , Resolving Tax Problems , Small Business Accounting , Small Business Tax , Tax Debt , Tax Preparation , Tax Problem Solution Services , Tax Problems , Tax Professionals , Tax Resolution Specialist , Tax Return Amounts Due , Unfiled income tax returns , Unpaid Income Tax Withholdings

An experienced tax resolution specialist will have thorough knowledge of all the IRS programs, including the offer in compromise option. Call us today for help. (405) 721-8558.

How the IRS Makes Your Life Miserable If You Owe Back Taxes

Author: David F. Bott, CPA/ PFS | Aug 30, 2019 | Categories: IRS Collection Tactics

The IRS has a lot of power over your life. They not only can freeze your bank accounts—that’s right—but they can seize all the money in your bank accounts too. They can garnish your wages. They can legally take as much as 90% of your net pay check. Make no mistake—the IRS is the most brutal collection agency on the planet.