Services: IRS Collection Efforts

Wage Levy

Unlike any other creditor, the IRS has unprecedented power over you to collect unpaid tax liabilities simply by serving a piece of paper on your employer. The IRS can levy on or garnish your wages. Basically, the IRS will take your entire paycheck except for the value of the exemptions claimed by you. You are essentially now working for the government and will receive little, if any, money in your paycheck.

If you are self-employed as an independent contractor, the IRS can levy on or garnish the people that pay money to you. If a levy is served, the payor is required to pay all monies due to you to the IRS.

Case Study: In this case study, our taxpayer arrived at work to find that the IRS had served a levy on his employer. His employer came to him and said that the wage levy will take effect with the payroll that Friday. The employer explained that our taxpayer will only receive $90.00 per paycheck going forward because of the levy. Our taxpayer immediately worried as to how he will pay the rent and keep food on the table. Our taxpayer retained Patrick T. Sheehan & Associates and we were able to negotiate a release of the wage levy before the Friday payroll. We also negotiated an installment agreement with the IRS where the taxpayer made small monthly payments to the IRS without the fear of further wage levies.

A wage levy is financially devastating and immediate action is required. If you are under a wage levy, or have received notice that a levy will soon be issued, please call us. We can help. Call us before the IRS calls you!®

Bank Levy

The IRS, by serving a levy on your bank, can take all of the money in your account. If the IRS has levied on your bank account, you have twenty-one (21) days in which to obtain a release of the levy. If the levy is not released within that 21 day period, ALL of the money in that bank account will be sent to the IRS.

Case study: In this case study, our taxpayer received a call from his bank notifying him that all of the checks he recently wrote had bounced because of insufficient funds. The taxpayer was surprised that his checks had bounced because there was enough money in the bank account. Our taxpayer learned that the IRS served a levy on his bank account and the bank was about to send all of the money in that account to the IRS. Our taxpayer retained Patrick T. Sheehan & Associates and we were able to negotiate the release of the bank levy before the end of the 21-day period. The bank returned the taxpayer’s funds to the account and allowed the checks to clear. Patrick T. Sheehan & Associates also negotiated an installment agreement on behalf of the taxpayer where small monthly payments were made to the IRS until the liability was paid in full without the fear of further bank levies.

A bank levy is financially devastating and immediate action is required. If you are under a bank levy, or have received notice that a levy will soon be served, please call us. We can help. Call us before the IRS calls you!®

Seizure of Assets

The IRS has the authority to seize assets including, but not limited to, your house, boats, cars, airplanes and ATVs. The IRS also has the authority to seize your business.

Case study: In this case study, the IRS showed up unannounced at our taxpayer’s restaurant with movers and instructed all of the patrons eating breakfast to leave. The IRS then began putting the tables, chairs and booths into the moving truck. Our taxpayer called Patrick Sheehan, who then spoke to the IRS Revenue Officer. Because the Revenue Officer had worked with Mr. Sheehan in the past, Mr. Sheehan was able to persuade the IRS to halt the seizure until Mr. Sheehan could make a proposal on behalf of the taxpayer. Mr. Sheehan was subsequently able to negotiate an excellent resolution for this taxpayer and avoided the seizure of the taxpayer’s business.

If any of your assets have been seized, or if the IRS has threatened to seize your assets, home or business, please call us. We can help.

Call us before the IRS calls you!®