Minnesota: What you need to know about IRS levy?
By Joe Alabi EA, Tax Resolution Specialist - Help with IRS Problems
(FishCoin Tax Solutions)
I represent taxpayers in Twin Cities, Minnesota and all the 50 States in the United State before all administrative levels—examination, collection, and appeals—of the Internal Revenue Service (IRS). One of the questions that are asked by taxpayers who have received a CP90 Notice(Intent to Levy) or have a case is in the collection division of the IRS is “What can the IRS can seize?”There are two types of federal tax levies issued by the IRS: a “regular” levy and a “continuing” levy. A continuing levy is a levy issued by the IRS on wages or routinely paid commissions, so it will remain in place until it is released.A “regular” levy issued by the IRS reaches the assets owned by the taxpayer now the levy is received. For example: Assume Taxpayer owes the IRS $20,000. Taxpayer has $400 i...
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