If the IRS thinks you owe them money, they will try and collect it from you. For personal taxes, this means they may take your property, your home, the money in any bank account with your name on it (bank levy), or have your employer send them money out of your paycheck (wage garnishment).
If you own a business, the IRS may seize your business property and assets including your equipment and accounts receivable. When the IRS starts contacting your customers demanding they send money to the IRS rather than you, many customers will stop doing business with you. Accounts receivable collections is one of the most damaging attacks by the IRS.
Contact our San Diego, Orange County or Beverly Hills tax law firm to schedule a free consultation today.
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