Tax Law | Tax Levy



When tax debt is left unpaid and unaddressed, the IRS and/or California Franchise Tax Board (FTB) have a number of methods for which they will attempt to collect the balance due. A tax levy occurs when the IRS and/or FTB legally seize your property to satisfy a tax debt. People often confuse tax liens and tax levies. Tax liens are merely a claim to secure a tax debt while tax levies actually result in the taking of property to satisfy a tax debt. 

With a tax levy, the IRS and/or FTB may seize any real or personal property including houses, cars, boats, bank accounts, retirement accounts, rental income, etc. The most common type of levy is a bank levy since it is easiest for the IRS and/or FTB to get a hold of cash. The worst part is that the IRS and/or FTB can levy your account as many times as they see fit for unpaid taxes. 

If you have not yet addressed your tax debt, now is the time. Tax debt is a frightening subject but with an experienced tax attorney you can rest assured that your account is less likely to go into the final stages of IRS and/or FTB collections. 

Don't wait until your property has been levied to contact us. The Law Offices of Lucy Zheng may be able to prevent a levy in some situations if we step in as early as possible.