Bank Levy Los Angeles – IRS Bank Levy
The IRS Has Levied My Los Angeles Bank Account
You were at a local Los Angeles store and your bank card was declined. You are certain the was plenty of money available to cover the charge. In a panic, you contact the nearest branch of your Los Angeles bank only to discover your funds have been seized as ordered by an IRS bank levy notification. Imagine the frustration and embarrassment.
In this nightmare scenario, there is a shred of light peeking through the darkness. Banks, in Los Angeles and across the nation, are instructed and compelled to hold all levied funds for 21 days before releasing to the IRS. Thus, this is your window for resolution to save your money. You have time to respond and possibly keep your funds.
How? Contact the Tax Relief Systems Los Angeles bank levy team. ASAP! (424)264-5854
Bank Levy in Los Angeles
When all other measures of collecting a debt has failed for the Internal Revenue Service and the California Franchise Board, they have one potent arrow still available in their quiver. Most agents are do not like to take this drastic measure but when they do, it is highly effective. The target of the levy has all their available bank funds seized and their nightmare begins.
Charges begin declining, checks bounce, and payroll is not met. These are just a few of the horrible things that can occur from a bank levy. The time to get help is now. It is better to get help before a Los Angeles bank levy occurs.
A tax professional, from Tax Relief Systems, can evaluate your situation and assist in finding 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 the bank has frozen them. The key is to act quickly. Once the 21 days have passed and the IRS has your money, it is difficult to get back.
Paying Bills After Your Los Angeles Bank Account is Seized
The IRS seized the funds in your bank account, and this has resulted in you not being able to pay your bills. Honestly, the IRS doesn’t care if you can’t pay your other bills. However, with appropriate documentation, you can prove that the levy is causing severe financial hardship, in Los Angeles.
The IRS may be willing to remove the tax lien under certain conditions. For this to occur, you need to apply for hardship status. Tax Relief Systems can walk you through each step of the process. It’s 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.
Contact Tax Relief System’s Los Angeles area office and request a free consultation. You’re not in this alone.
What Are the Specific Laws Governing Los Angeles IRS Bank Account Levies?
As stated, the tremendous power afforded to the IRS, when it comes to seizing assets such as bank funds, is jaw-dropping. They can take money out of your personal bank account. However, the IRS has guidelines and rules to follow along with specific conditions before they can take your money. The following are the three conditions that usually must be met (with exceptions):
- 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.
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 situations hold, 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 Los Angeles bank account? We can help. Our A+ BBB rated, Los Angeles 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