Discussion:EXEMPT FROM LEVY
From TaxAlmanac, A Free Online Resource for Tax Professionals
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.
From TaxAlmanac
Discussion Forum Index --> Advanced Tax Questions --> EXEMPT FROM LEVY
Discussion Forum Index --> Tax Questions --> EXEMPT FROM LEVY
| 4 December 2008 | |
| I was told by the IRS collection that there is no exemption amount, Pub 1494, for an independent contractor whose income is being levied. I am researching now but hope for a quick answer here. | |
| 4 December 2008 | |
| Discussion:IRS levy of A/R | |
| 4 December 2008 | |
| Discussion:Notice of levy on wages..., apply to contractor | |
| 4 December 2008 | |
| Basil, are you familiar with the IRM section on collections? | |
| 4 December 2008 | |
| the short answer is NO but the longer answer is that they aren't levying 'income' they are levying A/R, and with proper negotiation, you can either show hardship or enter into an I/A and get the levy removed. | |
| 4 December 2008 | |
| Thanks guy. I was not associating independent contractor income with AR. Knew that the exemption does not apply to AR. Now I am aware of the independent contractor also. The levy was released, Hardship. | |
| 4 December 2008 | |
| Yes it was a one time and a new one is needed for and future action. Advised client of his serious predicament. I think he gets it now. The person in collection was patient and helpful. | |
To join in on this discussion, you must first
log in.
