The Internal Revenue Service (IRS) and other taxing agencies including the Franchise Tax Board (FTB), Employment Development Department (EDD) and State Board of Equalization (SBE) use tax levies to collect taxes owed by a taxpayer. The power to levy assets is one of the most powerful tools that the IRS or any tax agency has to collect outstanding taxes.
Taxpayers are given short notice that the government will soon seize their properties unless appropriate arrangements are made to prevent such seizure. Levies can have a devastating effect on many taxpayers and may result in the loss of your wages, an empty bank or investment account, and/or liquidation or your retirement savings. We strongly encourage you to contact a lawyer immediately if you are threatened with a levy.
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