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What Types of Tax Levies Can You Receive? Take a closer look at what a tax levy means for you and how this method differs from other collection strategies. With a tax levy in place, the IRS can seize almost any type of property, including your bank account, your wages, your retirement account, or even the cash value of your life insurance policy. When the IRS places a tax levy on your property, the agency legally seizes your property in order to collect your back back taxes. The IRS has a long list of methods it can use to resolve outstanding back taxes and collect what taxpayers owe. Find out how an IRS tax levy affects your finances and learn how you can stop a tax levy to resolve your back taxes. FRAUD INVESTIGATOR CARDWORKS HOW TOIf you’ve received a tax levy notice from the IRS or if you’re wondering how to stop a state tax levy, you have several helpful options to consider.
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