Bank Levy Denver –  Bank Levy by the IRS

Has Your Bank Account, in Denver, Been Levied by the IRS

Oh no the bank just declined your debit card!  That should not have happened, you have money in the bank or so you thought.  You are confident there was more than enough money available to cover the charge.  You contact the bank and find your bank account, at a Denver bank, has been frozen!  Now, panic sets in.

What has happened?  You immediately contact the closest Denver area branch of your trusted bank and learn your bank funds have been seized, by order of the IRS via a bank levy notification.

If this situation has occurred, then you are frustrated and embarrassed, or it has not happened, and you know it is coming.  Tax Relief Systems can help you out either way. (424)264-5854

This is a nightmarish scenario, however, there is a shred of light peeking through the darkness of the IRS hole.  Banks, in Denver and across the nation, are directed and required to hold all levied funds for 21 days before releasing to the IRS.

The good news: you have time.  The bad news: you only have 21 days and the clock is ticking.  Unfortunately, this is your window for a resolution to save your money from seizure.  You have time to respond and possibly keep your funds, but there is no time to waste.

How?  Contact the Tax Relief Systems Denver bank levy team.  ASAP! (424)264-5854

Bank Levy in Denver

Bank levies are the extreme measure the Internal Revenue Service uses when all other measures of collecting a debt have failed.  The California Franchise Board also has this ability, of last resort, at its disposal.

This move, by either agency, is effective because they will get their money.  This is a measure most agents are reluctant to take this drastic measure but when they do, it is extremely effective.  When put into action, the target, of the bank levy, has all available bank funds frozen and the nightmare commences.

The nightmare of declined charges bounced checks and unmet payroll.  These are just a few examples of the bad things that can occur from a bank levy.  The time to get help is now.

There is only a small window of 21 days to act.  The best choice is to seek out assistance before a bank levy occurs. You need a Denver area expert versed in bank levies.

A tax professional, from Tax Relief Systems, can evaluate your situation and help find the best tax resolution to stop or release the tax levy.  Early advice requests can help avoid the bank levy or prevent the funds from being taken once frozen.  The key is to act quickly.  Once the 21 days have passed and the IRS has your money, it becomes extremely difficult to get back.

How to Pay Bills After Your Denver Bank Account is Seized

Your bank funds have been frozen by the IRS resulting in the paying of bills being impossible.  You have no money. No money to feed your family or put gas in your car.

Truthfully, the IRS does not care if you cannot pay your other bills, they want the money they deem owed.  However, you can prove that the levy is causing severe financial hardship which requires appropriate documentation.  Our Denver, CO team can show you what you need and help put the documentation together.

In certain circumstances and conditions, the IRS may be willing to remove the tax lien, which requires you to apply for hardship status.   Tax Relief Systems can walk you through each step of the process.  It is important to remember, with the levied amount seized, you, as a US citizen, have the legal right to deposit funds as needed and use the money deposited after the levy hits.  You Have Rights!

Contact Tax Relief System’s Denver area office and request a free consultation.  You are not alone.


What Are the Specific Laws Governing IRS Bank Account Levies? – for Denver, CO Taxpayers

The freezing and eventual seizing of bank funds, by the IRS, is an extremely powerful tool.  They can wield it as they please.  Even with such power, the IRS has clearly defined guidelines and rules that must be followed along with meeting specific conditions before they can take your money.  The specific conditions that must be met, with a few exceptions, are:

  • The IRS must assess a tax liability and send you a notice.
  • You must fail to pay or fail to make other arrangements.
  • The IRS must send a final notice of intent to levy. The letter must explain that you have 30 days to appeal or make payment arrangements.

If the IRS fails to follow any of these steps, the levy can be reversed based on procedural errors. However, only one notice of your rights is required for each tax period.  Remember, as a United States Taxpayer, you have Rights!

Are there exceptions to the rules?  Yes, there are exceptions. The IRS does not need to give you 30 days’ notice to a hearing if:

  • It feels collection of the tax money you owe is jeopardy (flight risk)
  • To collect tax from a state tax refund
  • The IRS served a Disqualified employment tax levy

If any of these circumstances are true, then the IRS will send you a notice of your appeal rights after it issues the levy.

Worried about an IRS bank levy on your Denver bank account? We can help. Our A+ BBB rated, Denver area, tax relief experts can stop the levy before the IRS seizes your money.

Get a free tax consultation to learn more about your tax rights and options.  Remember, there is no obligation. (424)264-5854

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