Once the IRS Has Levied Your Assets, It Can Be Hard to Get Them to Stop

If you're an Oklahoma resident who owes a substantial back tax bill, then the IRS likely has already put a levy on your assets—that is, garnishing your wages, freezing your bank accounts, seizing your property, and otherwise making it impossible for you to live your life normally. An experienced, aggressive tax lawyer can help you to get a levy lifted, though you'll have to make the IRS the proverbial offer it can't refuse.

A Levy Is Supposed to Make You Cry “Uncle”

Many delinquent taxpayers mistakenly believe if they can prove an IRS levy causes them undue hardship and personal suffering, then the government will have no choice but to cease tampering with their assets. This couldn't be any further from the truth! The fact is the IRS wants a levy to hurt, and if you complain about suffering extreme hardship, the revenue officer will conclude his strategy is working—and that it will only a matter of time before you settle your tax bill.

There are a variety of ways to get the IRS to release a levy, but none of them are painless. These include:

  • Crying “uncle” and borrowing from friends, relatives, and anyone you can think of to settle your back tax debt
  • Filing an Offer in Compromise, in which you agree to pay a reduced tax bill in regular installments
  • Demonstrating to the IRS revenue officer that you have a viable plan for paying your tax debt (you'll need to supply convincing documentation)
  • Claiming “currently not collectible” status, which will entail convincing the IRS you are flat broke and about to become homeless
  • Filing a Collection Appeal Request, which should result in an official hearing within a couple of weeks (but, don't expect the final decision to be in your favor!)

Need to Get a Levy Lifted? Travis W. Watkins Can Help

If your tax problems have gotten so out of hand that the IRS has put a levy on your assets, you are not in a very strong negotiation position. You need a lawyer by your side who knows the ins and outs of federal tax law and can come up with a viable solution to your dilemma. Intrigued? Call the Oklahoma tax experts at Travis W. Watkins, PC (800-721-7054) to find out what we can do for you!