Backdating income levy

18-Mar-2020 15:58

backdating income levy-31

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The IRS has the legislative authority to “levy” a taxpayer’s income and assets when there is a demand for payment and there has been a refusal or an inability to pay by the taxpayer subject to the levy.There are statutory limitations on the legislative authority delegated to the IRS by Congress in circumstance where an IRS levy of income and assets creates an economic hardship on individuals and businesses.There is a large body of taxpayers living from paycheck to paycheck who suffer when ongoing paychecks are levied.

The most onerous of levies is the levy of a bank account of a business which contains money for payroll and other business expenses.Notwithstanding the clear intent of the law precluding a levy that creates an economic hardship, taxpayers throughout the U. will testify to their Congressional representatives, and we will document in the IRS Forum, that the IRS regularly exceeds its legislative authority to levy[3].The IRS Forum will accomplish four objectives from a data base of unlimited duration based upon actual case histories of IRS levy abuse case histories: Given the large amount of unreasonable levies against taxpayers, Congress added a new statute in 1998[4] requiring the IRS to provide a Notice of Levy to taxpayers.The IRS takes the position that levy relief for “economic hardship” only applies to individuals and not to businesses.[5] The IRS continues to levy families even if that levy violates the law that restricts the IRS power to levy in “hardship” cases.