IRS Bank Levy Removal
An IRS Bank Levy is an enforced tax collection that can devastate you financially. When you check your bank balance and suddenly find that your direct deposit paycheck has been taken by the IRS, or the money in your bank has been seized or frozen by the IRS, we may be able to help. Our attorneys have helped thousands to deal with IRS problems and we may be able to help you get an IRS Bank Levy removed.
The very purpose of the Internal Revenue Service is to collect taxes from individuals and businesses on behalf of the federal government. If a taxpayer doesn’t pay their taxes as they come due, the IRS will demand payment through letters, phone calls, and at times field visits. If the taxpayer continues to disregard the demands for payment, the IRS will give legal notice that it will be resorting to other means to collect the taxes. The IRS doesn’t have to provide any further notice before beginning such collection activity. One of the methods that the IRS uses to collect overdue taxes is through issuing bank levies.
An Internal Revenue Service bank levy is when the IRS simply sends a letter acompanied with an IRS levy notice that they are seizing a taxpayer’s bank account. The bank is instructed to freeze all funds that are in the account and to forward those funds to the IRS. Banks are obligated to follow those instructions and the IRS imposes serious penalties to banks that disregard IRS levies. The IRS commonly uses bank levies as a way for collecting past due taxes, payroll tax deficiencies, and taxes they’ve tried to collect for some time but have received no taxpayer response. These types of levies are most commonly sent to banks. However, the IRS can seize funds from any institution, business or individual that has funds belonging to the taxpayer. For example, the IRS can seize funds from a utility company holding a deposit, a title company, a business vendor, an escrow company, an investment company, a stock broker, or other identifiable location where a taxpayer’s money may be found.
In IRS bank levy can have a very negative impact on a taxpayer’s financial situation. Taxpayers can often avoid bank levies by not waiting for the IRS to start collection efforts and by resolving their account beforehand. At De Luna Law, our tax attorneys understand the federal tax laws as well as the administrative policies and procedures or the IRS. This knowledge is key to getting a bank levies released and the taxpayer’s problems ultimately resolved. As a former IRS Agent for over a decade, Mr. De Luna has the hands on experience working with IRS Auditors, IRS Revenue Officers, IRS appeals officers, and most every kind of IRS representative in the tax controversy process. Having the experience as a tax attorney and certified public accountant who has previously worked for the IRS can sometimes provide a unique insight of a tax controversy case to get an IRS Bank Levy Removed.
If you need help with an IRS Bank Levy, contact us at 800-897-4076 to see how we can help you resolve your tax problems.