3 Effective Ways of Protecting Your Assets From an IRS Levy

Written by admin on May 6th, 2011

If you owe the IRS back taxes, and you have not paid beyond the time that is all their messages and phone calls, it is likely that the IRS begin to own the assets you will collect. With a levy in place of the IRS begins trying to take your assets to meet the owed taxes back. There are many ways to keep the IRS out of your assets, below are the 3 most effective ways.


Transfer your assets – This is a good option if you know whoIRS is planning on placing a levy on your assets and has not done it yet. If you transfer assets while the levy is in place, the IRS nor the law on this asset. Does the transfer of assets to transfer the property to give away, sell, or a combination of both. Do you have a good friend you can trust to keep the asset in law, until the levy has been fixed? They can be a good choice. Sometimes the IRS can still find ways to prove that you were transferred to theto prevent a seizure, but it will slow them down and buy yourself some time.
Do not let yourself be seen from the assets from the IRS – If the IRS can not movable property (boats, cars, motor homes, etc.) not to see it. Knowing that it is illegal to actually keep information from the IRS information about the products. If you keep your movable property, from which the IRS would expect them to be, it is likely that they will not find them, or will it slow and buy more time. Even if the elements are in another state or country, this makes it extremely difficult to use them to IRS.
Transfer Financial Accounts – In order to prevent the IRS to go to your bank account and taking money directly from him (IRS Bank Levy) you can just pay to throw it off course. The only way the IRS is using your bank account from the tax return that you file and displays the bank account that dividends have been paid. The> IRS no access to bank computers, so that will be moved once an account, will find it easy not able to. If the IRS can not find your bank account, they can contribute to the seizure of assets, but the only way they can do this, banks will randomly select and to work with them to see if you have an account.

Running from the IRS and hidden assets is not easy to get and very likely the IRS, the best of you, sooner or later, if you do not resolve your tax returnAsk. Use these methods as a means to the IRS, seeking to prevent your assets if you figure out how to solve your tax problems. These methods will help you keep your valuable assets and will help you buy time to find a better solution. It is also strongly recommended that you speak with a tax professional dealing with some of these methods, because, because, if they are not properly done, can be the illegal.


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