IRS Bank Levy Release Help – Using Your Account Again
Posted by LWM Team on Fri, Mar 05, 2010
Often, after being served a bank levy and paying it off, an individual may require IRS bank levy release help and they may need to find out whether they are actually able to use their bank account again or if there are any limitations imposed on their account.
Bank levies are very different from wage levies. Wage levies are something that are continuous, so you have to keep on paying them, but bank levies are not like this.
A bank levy is simply a one-off deduction from your bank account, so anything you put into it after the levy has been paid in full (whether it be all at once or through an installment agreement between you and the IRS) is completely yours and the IRS will not take any of it from you. Many individuals however decide to switch bank accounts anyway after receiving bank levy release help.
The only way the IRS will take money out of your account after you have paid your bank levy off is if they issue another levy – although this is something you would be made aware of before it happens.
More importantly, if you want IRS bank levy release help, you have a window period between when the money is deducted from your account to pay the levy and when the IRS actually gets it. This window period is 21 days and the bank holds the money during this period, meaning neither you nor the IRS gets it. During this period, it is sometimes possible to negotiate with the IRS to get the levy released, and if they do so within 21 days, the money will go back into your account.