| Taxes, I am sure you are like me and do not like | | | | amount, so they may use bank levies in the |
| paying them, but it is required by law. If you | | | | future if they see additional funds in any of your |
| choose not to pay your taxes, you will become | | | | bank accounts. |
| subject to an IRS bank levy. | | | | You're Options |
| Don't Let The IRS Levy Your Money | | | | Trying to stop the IRS from a bank levy usually |
| A bank levy is when the IRS lawfully goes into | | | | isn't an easy process. If they have already frozen |
| your bank account and takes out your finances in | | | | your account, it will be tremendously difficult to |
| order to pay your IRS tax debt. This is one of | | | | prevent the IRS from collecting the back taxes |
| the fastest and easiest ways for the IRS to | | | | from your account. If you knew about the levy a |
| compel back taxes and in fact is the number one | | | | head of time, you would have a better chance of |
| way the IRS collects taxes. The only option for | | | | stopping it. Previously mentioned, you never know |
| the bank is to let the IRS into your bank account. | | | | until after the fact. If you are lucky, the IRS didn't |
| If the bank doesn't allow the IRS, they will seize | | | | collect all the taxes owed in the first seizure. Then |
| the banks funds that they could have received if | | | | there are certain actions that can be taken to |
| they would have levied your account. | | | | prevent them from using a bank levy a second |
| How A IRS Bank Levy Works | | | | time. You would need to contact the IRS, and |
| Before the IRS can levy your bank account they | | | | work with them. Confess your problems and set |
| must give you a tax bill to pay. But if you don't | | | | up a tax settlement agreement. This is something |
| pay or agree on a payment plan and don't hold up | | | | you can try to do yourself or contact a |
| your end of the bargain, they will send one final | | | | professional IRS tax relief specialist |
| notice of plan to levy your funds. When you are | | | | (recommended route to take, less headaches). |
| getting served with the bank levy, you will not | | | | If you have unpaid taxes, the consequences can |
| find out until after the levy is complete. Usually | | | | be extremely bad for you. To prevent the IRS |
| you will notice that your money has been frozen. | | | | from levying your bank account; you should take |
| The money will remain frozen for 21 days until | | | | action as soon as possible. If you feel |
| the IRS seizes the funds. Many times the IRS | | | | overwhelmed dealing with IRS, find a reputable |
| does not seize the entire amount from the bank | | | | tax settlement company to assist you. |
| account to satisfy the entire outstanding tax | | | | |