Tax relief companies are often in the business of creating FEAR to get you to hire them. But your average tax problem resolution professional is NOT going to state the following fact: IRS wage levies and bank levies are at their absolute low as a result of IRS budget cuts. We at WATAX don't play the scare game with our clients. It's disingenuous particularly in an environment where the IRS really doesn't levy much. But the IRS still levies and garnishes.
Worried about levies? Here are some clues to where you stand with the IRS:
Six months or longer from levy: Cp14 letter
90 days or longer from levy: CP523, CP504, LT11 or LT16 letters
30 days from levy: Final Notice of Intent Letter/1058 letter from Rev. Officer.
In the last two years, we've seen more levies from cases with Revenue Officers then Automated Collection Services. But increased IRS budgeting and levies are always possible and could easily get back to normal levels when Congress and the President align on that goal.