{"id":28298,"date":"2017-09-18T21:28:33","date_gmt":"2017-09-18T21:28:33","guid":{"rendered":"https:\/\/resource-center.hrblock.com\/?p=28298"},"modified":"2018-04-16T17:30:41","modified_gmt":"2018-04-16T22:30:41","slug":"tax-dictionary-seize-assets","status":"publish","type":"post","link":"https:\/\/hrbcomlnp.hrblock.com\/tax-center\/irs\/audits-and-tax-notices\/tax-dictionary-seize-assets\/","title":{"rendered":"Seize Assets"},"content":{"rendered":"<h2>IRS Definition<\/h2>\n<p>The IRS may levy (seize) assets such as wages, bank accounts, social security benefits, and retirement income. The IRS also may seize your property (including your car, boat, or real estate) and sell the property to satisfy the tax debt. In addition, any future federal tax refunds or state income tax refunds that you&#8217;re due may be seized and applied to your federal tax liability.<\/p>\n<h2>More from H&amp;R Block<\/h2>\n<p>If don&#8217;t pay the full tax balance shown on your federal income tax return by the due date, the IRS will send you increasingly urgent notices requesting payment.<\/p>\n<p>If the IRS doesn&#8217;t get a response, the IRS can begin enforced collection actions, such as issuing a levy. A levy takes a portion of your wages or the balance in your bank account. The IRS can also take your state tax refund and future IRS tax refunds until the balance is paid off.<\/p>\n<p>If you own a business, the IRS can take payments due to you from customers. To avoid a levy, contact the IRS to get into a payment agreement before the due date on your <a href=\"https:\/\/hrbcomlnp.hrblock.com\/tax-center\/irs\/audits-and-tax-notices\/irs-notice-cp90\/\" target=\"_blank\" rel=\"noopener\">Final Notice of Intent to Levy<\/a>.<\/p>\n<p><a href=\"https:\/\/hrbcomlnp.hrblock.com\/tax-center\/irs\/audits-and-tax-notices\/bill-for-unpaid-taxes\/\">Learn about all of the options you may have if you owe taxes and can&#8217;t pay.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>IRS Definition The IRS may levy (seize) assets such as wages, bank accounts, social security benefits, and retirement income. The IRS also may seize your property (including your car, boat, or real estate) and sell the property to satisfy the tax debt. In addition, any future federal tax refunds or state income tax refunds that [&hellip;]<\/p>\n","protected":false},"author":605,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[25,51],"tags":[],"class_list":["post-28298","post","type-post","status-publish","format-standard","hentry","category-irs","category-audits-and-tax-notices"],"acf":[],"yoast_head":"<title>Tax Dictionary - Seize Assets | H&amp;R Block<\/title>\n<meta name=\"description\" content=\"Get the facts from H&amp;R Block about IRS levies, which seize assets, like your wages, your bank account balance, and more income sources.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/hrbcomlnp.hrblock.com\/tax-center\/irs\/audits-and-tax-notices\/tax-dictionary-seize-assets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Seize Assets\" \/>\n<meta property=\"og:description\" content=\"Get the facts from H&amp;R Block about IRS levies, which seize assets, like your wages, your bank account balance, and more income sources.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/hrbcomlnp.hrblock.com\/tax-center\/irs\/audits-and-tax-notices\/tax-dictionary-seize-assets\/\" \/>\n<meta property=\"og:site_name\" content=\"H&amp;R Block\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/hrblock\" \/>\n<meta property=\"article:published_time\" content=\"2017-09-18T21:28:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-04-16T22:30:41+00:00\" \/>\n<meta name=\"author\" content=\"Elyce Luegers\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@hrblock\" \/>\n<meta name=\"twitter:site\" content=\"@hrblock\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Elyce Luegers\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/hrbcomlnp.hrblock.com\/tax-center\/irs\/audits-and-tax-notices\/tax-dictionary-seize-assets\/\",\"url\":\"https:\/\/hrbcomlnp.hrblock.com\/tax-center\/irs\/audits-and-tax-notices\/tax-dictionary-seize-assets\/\",\"name\":\"Tax Dictionary - 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