Tax Problems

If you don't deal with your IRS problem, any of the following could occur:

* The IRS can levy (seize) your bank account and take your money out of the bank.
* The IRS can file a notice of levy with your employer to levy your wages, salary, and other income. They can take a substantial amount of your paycheck. This also tells your employer that you have a problem with the IRS. The IRS also enforces collection against your 401(k) and other retirement accounts.
* Penalties and interest will continue to accrue.
* The IRS can levy (seize) your assets and sell them at public auction to satisfy your tax liability.
* With court approval, the IRS can levy (seize) your residence and sell it at public auction to satisfy your tax liability.
* The IRS can issue a summons to third parties such as your bank, credit union, employer, and others to determine assets or property owned by you.
* The IRS can issue a summons to you requiring you to appear, testify or produce books, papers, records, or other data.
* The IRS can file a Notice of Federal Tax Lien, which is public notice of a lien in favor of the United States on all property and rights to property belonging to you.