Post by myTax Solutions on Mar 22, 2016 20:24:03 GMT
YES! There are lots of different things that can slow down the process and provide extra time to prevent a levy. Generally, the IRS cannot move forward with a levy if you have submitted a proposed resolution (i.e., an installment agreement, offer in compromise, etc.). This also holds true for certain objections or appeals that are submitted. The main goal of these restrictions is to honor the fact that you have done your part of the work, and now you are just waiting for the IRS to do its part. Therefore, it wouldn't be fair to take action while you're stuck playing the waiting game.
There are also additional steps that the IRS must take if the asset they are going after happens to be your primary residence (where you live). Because this is where you live, certain extra steps must be followed before the IRS can take your home. This also extends to your personal belongings. The policy is that the IRS can't just take everything you own and kick you to the curb. In fact, if they did so, then those hard earned tax dollars would actually be spent on social programs to provide for you. With that in mind, there are certain limits on what the IRS can take, which in turn ensures that you aren't left with nothing.
There are also additional steps that the IRS must take if the asset they are going after happens to be your primary residence (where you live). Because this is where you live, certain extra steps must be followed before the IRS can take your home. This also extends to your personal belongings. The policy is that the IRS can't just take everything you own and kick you to the curb. In fact, if they did so, then those hard earned tax dollars would actually be spent on social programs to provide for you. With that in mind, there are certain limits on what the IRS can take, which in turn ensures that you aren't left with nothing.