Educational Tax Tip: Understand the Different Types of Tax Levies

Have you ever heard about the different kinds of tax levies the IRS or state agencies can impose? Depending on your situation, the IRS or state can seize wages, bank funds, property, or even business assets to collect unpaid taxes. For example, a property tax levy can affect your real estate, while an income tax levy might lead to wage garnishments or bank account seizures. Businesses can also face sales tax or business tax levies that put operations and assets at risk. Each type carries serious consequences, but with proactive compliance and the right support, you can avoid costly enforcement actions.

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