Have you ever been behind on payments? Bank levies will give your creditors a powerful tool to collect their dues from you. A bank levy is actually a legal action that allows owed money to get taken directly from your bank account. Once set in motion, your bank will freeze the funds in your account and […]
Precision Tax Relief Wins BBB Torch Award for Ethics
Precision Tax Relief is honored to announce our distinction as the winner of the East Washington-North Idaho 2019 Better Business Bureau Torch Award for Ethics. Precision ranked top among regional contenders for this prestigious award. On September 26, 2019, Better Business Bureau officially conferred the award at our Coeur D’Alene offices. Better Business Bureau distinguishes […]
What is a Tax Levy on a Paycheck?
A tax levy on your paycheck is also referred to as wage garnishment. This can happen when you owe money to the IRS from unpaid taxes. The IRS has a legal right to take money directly out of your paycheck to pay the taxes you owe. To do this, the IRS will contact your employer directly and […]
IRS Tax Levy Rules For 2019
The US Internal Revenue Service (IRS) estimates that around 3 percent of eligible taxpayers in the US don’t file tax returns. This amount equals roughly 14 million taxpayers who owe more than $130 billion to the US government. When this failure to pay takes place, the IRS is entitled by federal law to issue a […]
Tax Levies: How To Avoid & Deal With Them!
Do You Owe Back Taxes? If so, you could face tax levies if you continue to miss payments. These penalties are serious business that could lead to devastating consequences. A tax levy is an administrative action that the Internal Revenue Service (IRS) can take. It gives them the authority to seize your personal property to satisfy a tax liability. […]
How To File An IRS Hardship Form
It’s a hard time to be a working-class American. Despite economic gains on a macro level, most American families are still living paycheck to paycheck. This financial hardship can rear its ugly head all through the year but can be especially difficult to face around tax time. The IRS hardship process can be your answer. If you […]
IRS Tax Levy vs. Lien: How Are They Different?
Avoiding paying taxes is impossible. You’ll face government tools like the IRS tax levy and tax lien. Reports show 40 percent of all the money the United States Treasury collects is from individual income taxes proves the same. In roughly equal measure, at least 40 percent of American households don’t pay income tax. Some do it knowingly, […]
How Much Do I Owe The IRS?: How To Find Out What You Owe In Back Taxes
21% of taxpayers in the U. S. are expected to owe the Internal Revenue Service (IRS) money in the 2019 tax season. With the recent changes the Treasury Department and the IRS made to reflect the new Tax Cuts and Jobs act, many taxpayers are set to owe more taxes. For example, these changes bring an […]
Back to Normal: Can an IRS Tax Levy Be Reversed?
About 458 billion dollars in taxes go unpaid each year. So if the IRS says that you owe years of taxes, you are not alone. And if you can’t foresee any way that you’d be able to pay those taxes, you are still not alone. However, if you do owe taxes, one of the worst things you […]
Up for Grabs: What Can The IRS Levy?
In 2018, the IRS collected more than $55 billion in unpaid taxes. These collections can take many forms, including asset levies to recover back taxes and penalties. If you’ve received a levy notice from the IRS, you may wonder what can the IRS levy to recover your taxes owed. These levies can take many forms, depending […]