Bank Levy – IRS Bank Levy
My Bank Account Has Been Levied by The IRS
Has your bank account been levied by the IRS? Or have you received an official notice from the Internal Revenue Service with notification the levying of your bank account is imminent? You owe money to the IRS.
This is one of the most lethal tools, in the IRS tool kit. The ability to take money out of a person’s bank account is an extreme power and demeaning to the individual or company. There is probably no other action, by the IRS, that is more panic instilling, surprising, and disruptive. This single action can send your entire world into a tailspin.
Don’t panic, help is here! Tax Relief Systems. Call Now! (877)829-0040
Bank Levy Power of the IRS
With just one notice to the bank, the IRS can wreak havoc on your life. This notice informs the bank that the IRS is taking procession or seizing every penny you have and applying it toward the tax bill they deem you owe. The amount you owe may be the sticking point. To the IRS, the amount you owe is what they say until proven otherwise.
Nonetheless, they have taken your money and you may not realize it until the money has disappeared. Imagine being in line at the grocery store, you receive notice a check has not cleared, or worse payroll checks bounce. This is the definition of a waking nightmare. Your bank account is frozen.
An IRS bank levy can make your life a living nightmare. Tax Relief Systems can relieve your nightmare and give your life back! Call Now! (877)829-0040
What Do You Do When the IRS Applies a Bank Levy on Your Bank Account?
The best thing to remember is to not let your IRS issue get to this point. The sooner you address your issue head-on, the better. Internal Revenue Agents would rather not levy your bank account, therefore try not to leave this a bank levy as their only option.
Options you have before this point are to work out an Installment Agreement, Offer in Compromise, or file a Request for a Collection Due Process or Equivalent Hearing Appeal (Form 12153) in reply to a “Final Notice” of Intent to levy.
Once an IRS bank levy happens, banks are directed and required to hold all levied funds for 21 days before releasing it to the IRS. This is your window for resolution to save your money. If you have not contacted Tax Relief Systems before this clock has started, call now there is still time. Once the money is released to the IRS, things get much tougher.
It is important to remember, the banks cannot legally stop the IRS from doing this, and if they do interfere, they are held financially responsible for any payments that may have been levied from your account.
Important Steps to Take
Tax Relief Systems will walk you through every step, however, time is short and here are a few important things to do. Written documentation is your friend. Write down everything. Determine the amount the IRS has frozen in your account and obtain written documentation.
Documentation concerning the amount held, by the bank, is crucial to the possible securing of the release of your funds. Even with the levied amount seized, you have the legal right to deposit funds as needed and use the money deposited after the levy hits.
Quickly determine the amount you need for your expenses to provide for you and your family or keep your business in operation. Use bills, invoices, or any other documentation for calculation and supporting documents, including what is owed on your next payroll, if affected.
Navigating through the maze of an IRS bank ley is difficult and having a trained representative, from Tax Relief Systems, with unmatched experience, greatly increases your chances of success. You only have a short amount of time, and you may only get one shot at this.
Do not delay. Contact Tax Relief Systems ASAP by calling our toll-free number or completing our simple secure online form.
Call Now! (877)829-0040
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