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Re:IRS seizure of property (1 viewing) (1) Guest
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TOPIC: Re:IRS seizure of property
#1408
Samantha (User)
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IRS seizure of property 4 Months, 4 Weeks ago Karma: 2  
Once a tax lien is placed on property, approximately how long will it take for the IRS to seize/take the property. Client is being garnished, and can not make payments on the IRS debt, but wants to know how long he can occupy the property before the IRS takes it.

Need a tax attorney referral in Meza, Arizona, any recommendations?<br><br>Post edited by: Samantha, at: 2008/05/10 04:56
 
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#1418
steve (Moderator)
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Re:IRS seizure of property 4 Months, 3 Weeks ago Karma: 3  
The IRS will levy only after these three requirements are met:

1. IRS assessed the tax and sent you a Notice and Demand for Payment;
2. You neglected or refused to pay the tax; and
3. The IRS sent you a Final Notice of Intent to Levy and Notice of Your Right to A Hearing (levy notice) at least 30 days before the levy. The IRS may give you this notice in person, leave it at your home or your usual place of business, or send it to your last known address by certified or registered mail, return receipt requested.

Usually the levy only occurs if an installment payment plan is not set-up or the taxpayer does not make payments.
 
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