If you have an IRS bank levy, we can help! The OIC Tax team has extensive experience in successfully negotiating the release of IRS bank levies. If you’d like to find out how we can help you, please contact us today by calling 916-331-2011 or fill out our Free Consultation form for a free confidential analysis. an IRS levy can be very stressful. If not handled properly, it will seriously affect you and your family. If a taxpayer disregards the demands for payment, the IRS will give legal notice that they will resort to other means to collect the tax debt. The IRS DOES NOT have to provide any further notice before beginning collection activity. The IRS is given broad collection powers and it is not unlawful for the IRS to issue a levy as one method of collection.
A Bank Levy is Easy for the IRS
The IRS commonly uses a bank levy as a method to collect back taxes from the taxpayer. It is as easy as the IRS sending a letter to the taxpayer’s bank accompanied with the levy notice stating they will be seizing the taxpayer’s bank account. The bank must freeze all of the taxpayer’s funds and forward them to the IRS. A bank that disregard an IRS levy will face serious penalties. All banks follow the IRS instructions regarding a levy. 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, an escrow company, an investment company or even a stock broker. This bank levy process is easy for the IRS.
We can Help with your Bank Levy
Our team of tax professionals have stopped and negotiated many bank levy situations for taxpayers within days of calling OIC Tax. If you want to stop a bank levy or seek assistance in negotiating a bank levy situation, contact our firm today at 916-331-2011 or fill out our Free Consultation form for a free confidential tax analysis.
Our tax professionals stand by their commitment to put you in a better situation.