Free Tax Debt Analysis
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Bank Levy Release
A Levy against the taxpayer's bank account is a one time Levy attached to her funds in her bank account at the time of the Levy.
When the taxpayer's bank gets the notice of the Bank Levy they must freeze all of her money in her bank accounts. Her bank will hold the money for 21 days before they release any of her funds to the IRS. This will provide the taxpayer or her representative time to get in touch with the IRS and work on negotiating a release of her funds.
The IRS may release the taxpayer's funds under certain circumstances, such as:
- the taxpayer's tax debt is paid in full or becomes unenforceable due to time lapses
- the IRS may release the taxpayer's funds if that means she could then pay back the tax debt in full
- if the taxpayer agrees to a payment schedule for the tax debt
- if the tax Levy is causing the taxpayer extreme financial hardships and problems, they may release her funds
If the taxpayer needs more information on wage garnishments and tax Levies, we can provide her with a free and completely confidential consultation. If the taxpayer needs to have funds released, whether partial or full, we can help. With our team of professionals including enrolled agents, tax lawyers and CPA's, we may be able to negotiate the release of her funds successfully. We can also help the taxpayer with wage garnishments or orders to withhold her pay. For business people we can also assist with levies on account receivables.
We know that Levies and garnishments can cause hardships and financial problems. That is why we will help the taxpayer as quickly as possible, and in any way that we can.