How Tax Reform Has Changed the Tax Levy

         When it comes to collecting tax debt, the IRS has a variety of options to use. Certain ones can only be used when proper criteria have been met. That is the case when it comes to a levy. This can only be applied after a tax debt has been made known to a Taxpayer or business, they refuse to pay, and a notice of a levy has been provided to them.

          The Tax Cut and Jobs Act has now extended the time for filing a claim and take civil action to stop a wrongful levy. That time has increased from 9 months to 2 years. This ability is not available to the one subject to the levy. A wrongful levy claim can only be made by someone who feels the property belongs to them (not the Taxpayer in debt), or that they have a claim greater than the IRS. When it comes to situations like this, it is often best to consult a Qualified Tax Professional to get the best guidance on how to move forward

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