Stop Tax Levy By Finding the Right Tax Attorney for Your
The IRS can collect unpaid taxes, penalties, and interest in several ways when you owe money to them. These collection methods include tax liens, levies, and IRS wage garnishments.
Below are some of the types of assets that the IRS can collect from you if you owe taxes: The IRS aims to collect back taxes from taxpayers as rapidly as possible by selling the assets that generate revenue in the range of the tax debt.
- Personal property: Movable Property, e.g., car, boat, jewelry, motorhome, recreational vehicles, etc.
- Real property, property that cannot be moved
- Investments: Stocks, bonds, annuities, and retirement plans.
- Retirement Accounts
- Bank Accounts
- Rental Income
- Accounts Receivables
- Cash’s loan value of your life insurance policy