IRS Bank Levies - Tax Levy or Wage Levy

The IRS is the most brutal collection agency on the planet. If you desire to deal with them on your own (without proper expert representation) it is akin to going to court without a tax attorney. You will get creamed!!

An IRS levy is the actual seizure action taken by the IRS to collect back taxes. For example, the IRS can issue a bank levy to take your cash in savings and checking accounts.

The IRS can levy your wages or accounts receivable and all other sources of income. The person, company, or institution that is served the levy must comply. If they do not comply, they too may have daunting IRS (legal) problems and will need tax relief services. The additional paperwork this person, company or institution is faced with to comply with the levy, usually causes the taxpayer's relationship to suffer with the person being levied.

Tax Levies should be avoided at all costs:
-Levies usually are the result of poor or no communication between the taxpayer and the IRS.

IRS Bank Levies
-When the IRS levies a bank account, the levy is only for the particular day the levy is received by the bank. These are generally referred to "one shot" levies.
-The bank is required to remove whatever amount is available in your account that day (up to the amount of the IRS levy) and send it to the IRS in 21 days unless notified otherwise by the IRS.
-This type of levy does not affect any future deposits made into your bank account unless the IRS issues another Bank Account Levy.

IRS Wage Garnishment / Levy
-An IRS Wage Levy is different
-Wage levies are filed with your employer and remain in effect until the IRS notifies the employer that the wage levy has been released. These are generally referred to as a "continuous" levy.
-Most wage levies take so much money from the taxpayer's paycheck that the taxpayer doesn't have enough money to live on.

If you've been threatened with an IRS bank levy, tax lien, seizure or the denial or termination of an installment agreement, let us represent you and put end to your IRS problems! We can help you file an IRS Collection Appeal to stop an IRS levy or seizure.

Don't Ignore an IRS Collection Notice, Unless You Want Them to Levy Your Bank Account

Have you received a collection notice from the IRS? You don't need to panic because you're not alone. You can get expert tax help to conquer your IRS problems once and for all. If you are in trouble for owing back taxes, the sooner you get help from a tax attorney or Certified Tax Resolution Specialist the better. You must file an IRS Collection Appeal request within a certain legal time frame and follow the IRS guidelines, or you may lose the opportunity to have an Appeals officer listen to you side of the story.

At TRS, we will review your IRS collection letter and let you know up front what tax relief options are viable for resolving your specific IRS problems. The minute you retain TRS, you no longer have to communicate with the IRS.

For more information, check out our IRS Bank Levy Frequently Asked Questions and IRS Guidelines.

Get a free Tax Consultation from one of our experienced tax resolution experts or call 866-IRS-Problems.