IRS Bank Levy

If you've received an IRS bank levy, don't panic. There may still be a chance to get it released. Act quickly and contact us now for assistance.

An IRS bank levy is a legal seizure of your property to satisfy a tax debt. When you receive a levy notice, it's important to obtain a copy from your bank to understand the amount being levied and the timeframe before the funds are taken from your account. State and federal tax authorities can freeze your account and forward the money within a specified period, depending on the state or the IRS.

Dealing with an IRS bank levy requires urgency. While the IRS provides notice, it's crucial to take action promptly. Delaying can result in the loss of your funds and make it more challenging to negotiate payment options. Working with a tax professional is essential to expedite the process and achieve the best outcome.

An IRS bank levy is issued when you have a significant tax debt that you haven't addressed. It's a serious matter that requires attention. Responding within the given timeframe by appealing, providing evidence, or negotiating a payment plan with the IRS is crucial. State tax authorities may act even faster and begin withdrawing funds within days.

If the account being levied is not yours, you can contact the IRS and provide evidence to substantiate that fact. However, time is of the essence, and seeking professional assistance is recommended.

Our licensed and experienced staff specializes in resolving IRS bank levies. We understand the importance of releasing the levy and can expedite the process for you. Our goal is to protect you from further collection actions and help you settle your taxes for the least amount possible. With our in-house tax preparers, we can efficiently handle any missing returns and ensure compliance with the conditions for the levy release.

Receiving an IRS levy does not leave you defenseless. Seeking professional help allows you to appeal the levy, negotiate with the IRS, and find a payment plan that works for you. It's crucial to address your tax debt promptly to release the levy and avoid additional collection actions.

Remember, the IRS can levy other accounts and assets if your tax debt exceeds the funds in your bank account. Seeking legal representation can make a significant difference in challenging the IRS's decisions and protecting your rights.

Once the IRS bank levy is released, obtaining a resolution in writing is critical. Failure to meet the conditions of the release can result in further levies or wage garnishment. Our dedicated staff will guide you throughout the process, ensuring compliance and working towards the best resolution.

Contact us at NY Tax Solvers for a free consultation. We only take cases in which we can help, and our expertise can make a difference in resolving your tax issues effectively.