The ability to levy on the assets of a tax debtor that has failed to meet his or her federal tax obligations is one of the major enforcement remedies the Internal Revenue Service (IRS) has at its disposal. Generally speaking, levies that are not continuous wage levies and is served prior to the expiration of
conditions for levy release
Transferee Liability: Avoiding a Levy
Transferee liability situations can arise where a taxpayer transfers assets to another (the “transferee”), while owing taxes to the Internal Revenue Service (IRS), and the the IRS pursues those transferred assets in order to satisfy the transferor’s tax obligation. A transferee can be an heir, a recipient of a gift, or a shareholder of a
Jeopardy Assessments and Jeopardy Levys (IRM 5.1.4 and 5.11.3)
The Internal Revenue Service (IRS) has a number of remedies at its disposal designed to further the collection of outstanding tax obligations. Among these remedies is a jeopardy assessment, which occurs where the IRS believes following the normal course of tax collection would result in a loss to the IRS and the government. Under IRC
Bank Levies
When a tax debtor fails to meet his or her tax obligations, the Internal Revenue Service will typically initiate collection proceedings that begin in the form of instituting a levy on the tax debtor’s assets. A levy on the tax debtor’s assets is a effective way to ensure that those assets will be available to