Tax Relief Attorney - Tennessee
Tax Lawyer Kenneth L. Sheppard, Jr.
IRS, Tennessee Department of Revenue
and Local Tax Attorney (877) 505-9455
SPEAK WITH A FEDERAL TAX ATTORNEY TODAY (877) 505-9455
TN Department of Revenue Tax Levies - Wages & Property
The Tennessee Department of Revenue can seize and sell your real and personal property in order to satisfy a state of Tennessee tax debt. Additionally, the TN Department of Revenue can levy against your wages, also known as a wage garnishment. In order to collect back taxes, the Tennessee Department of Revenue can assess a levy against other property you may own including retirement accounts, accounts receivables, rental income, and of course bank accounts.
When the Tennessee Department of Revenue files a tax lien it is filing a claim against real property that is used to secure payment of a Tennessee tax debt, while a tax levy assessed by the Tennessee Department of Revenue takes property or wages to satisfy the tax debt owed to the Tennessee Department of Taxation. A tax lien filed by the Tennessee Department of Revenue lays the groundwork for a levy, which is why it is important to take immediate action and contact a qualified tax attorney serving Tennessee f you receive a tax notice of a Distress Warrant for Collection of Tax.
A bank levy or any other type of levy by the state tax collectors will occur only after certain events have taken place. After a tax debt has been assessed, the state issues a Notice of Demand and Payment. If you fail to respond to that Notice of Demand and Payment by failing to pay the tax debt or establishing some type of tax settlement or repayment plan, the state tax collectors will send you Notices of Intent to Levy. These are warning letters informing you of the need to take action to get your tax debt problem resolved as the state taxation authority will soon seek to levy your property. The state will issue Final Notice of Intent to Levy and Notice of Your Right to A Hearing at least 30 days before the levy.
Should the state tax collectors escalate their efforts to collect on your debt, the following are examples of assets that may be seized:
Checking and Savings Accounts
Once your bank is notified of the levy of your account by the state of Tennessee Department of Revenue, the bank is required to place all funds on hold for 21 days. At the end of the 21 day period, the bank is then required to turn over the levied funds from that bank account to the Tennessee Department of Revenue. If your tax debt approaches or has already achieved this stage, it is crucial that you take steps to resolve the Tennessee tax debt within the twenty-one day period. It is also important to have any agreed upon tax resolution in writing to use as evidence in future dealings with the state tax collectors.
It is possible to appeal to remove a tax levy assessed by the Tennessee Department of Revenue under certain circumstances. The Tax Attorney at Sheppard Tax Relief can help you to appeal a tax levies assessed by the Tennessee Department of Revenue. Listed are some of the grounds upon which we can help you win an appeal of your tax levy:
The state assessed your tax and sent the notice of levy during your bankruptcy proceedings
The state made a procedural error during the assessment of your taxes
The statute of limitations expired prior to the state sending the notice of levy
You were not afforded an opportunity to dispute your assessed liability
You have made a request to discuss collection options
A tax levy ends when either the levy is released by the Tennessee Department of Taxation, you pay tax debt in its entirety, or the time period for collection has expired. A tax levy assessed by the Tennessee Department of Revenue may also be released if you can prove that an economic hardship would result if the levy would take place. However, this does not mean that the tax debt owed to the Tennessee Department of Revenue disappears. Action must take place with the Tennessee Department of Revenue to establish a tax settlement or payment plan arrangement.
Contact the tax relief attorney at Sheppard Law Offices today at 614-523-3106 to receive a free consultation regarding your TN tax lien, tax levy, or wage garnishment. We are experienced in dealing with the IRS, State, and local taxation authorities.
Sheppard Law Offices
Law offices Kenneth L. Sheppard, Jr., Tax Attorney serving Memphis, Knoxville, Nashville ant throughout Tennessee, as well as a national and local scale. We handle tax issues for clients located in Tennessee and throughout the country, including Ohio, North Carolina, California, Florida, Illinois, Maryland, New Jersey, New York, Pennsylvania, Texas, and Virginia.
Tennessee Tax Lawyer Offices
Memphis Tax Lawyer Office
5100 Poplar Avenue, 27th Floor
Memphis, TN 38137
Knoxville Tax Attorney Office
First Tennessee Plaza
800 S. Gay Street, Suite 700
Knoxville, TN 37929
Nashville Tax Attorney Office
3200 West End Avenue, Suite 500
Nashville, TN 37203
National Tax Relief Attorney
Kenneth L. Sheppard, Jr. IRS, State, & Local Tax Lawyer (866) 484-1775