FORMER IRS ENFORCEMENT PERSONNEL
FORMER STATE ENFORCEMENT PERSONNEL
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If you or your business owe tax to the Internal Revenue Service or other governmental agency, you and your business may become the subject of the aggressive collection tactics which governmental agencies are allowed to use. Federal and State Taxing Authorities do not have to have a judge determine that the amounts they say you owe are accurate. Unlike other collectors, a governmental unit’s determination that you owe money, if uncontested, is the equivalence of a court judgment.
On the basis of a determination that you owe money or otherwise are not in compliance with tax law, a governmental agency may “levy” (SEIZE BY ANY MEANS) your property and dispose of the property, to provide for payment of your debt. In addition to levying your property the taxing authority may levy your paycheck, your bank account, stock or bond accounts or any other money or personal property you own. A taxing authority can also levy property held in trust, including residences, creating a particularly difficult situation. Governmental Agencies can levy property, such as accounts receivable, which is already subject to liens by banks or other U.C.C. financiers. Failure to take proper action, such as obtaining “subordination agreements” can result in your business losing its accounts receivable.
In addition to levying, another common method used by governmental authorities for collecting tax is filing a tax lien against your property. These liens are usually recorded against real estate, and make transfers of real estate difficult. Tax Liens usually appear on your credit report and make if difficult to engage in credit transactions.
Most government agencies are subject to specific detailed procedures, which they are supposed to follow before issuing levies and liens. In addition, there are normally procedures in place where levies and liens can be lifted, removed, or dealt with in ways which limit the hardship created.
Click here to review some of the applicable
Federal and Illinois Statutes.
This Firm has the ability to guide you through the dangers and difficulties caused be tax liens and levies.
The Law Offices of Thomas W. Lynch & Associates, P.C.
9231 S. Roberts Road
Hickory Hills, IL 60457
TEL: (708) 598-5999 – FAX: (708) 598-6299
E-Mail: info@thomaswlynchpc.com
Learn about different types of IRS Tax problems:
- Employment Tax (941 Issues)
- IRS & State Tax Appeals & Audits
- Liens & Levies
- Non-Filing Tax Returns
- Tax Court
- Tax Criminal Prosecution
We are serving the following towns and their surroundings:
