Bank Account Levy

What to do if the IRS Threaten to Levy Your Account

When it comes to paying your taxes, the IRS does not mess around. Get on the wrong side of the taxman and boy, will you know about it. If the IRS threaten to levy your bank account, you had better take this threat seriously. A bank account levy is an action enforced by the IRS or the state when they determine that an individual owes them back taxes or unfiled returns. Remember, a bank account levy is usually only used as a last resort, when an individual has ignored multiple requests to pay their tax bill. When a levy is put in place, the individual or business taxpayer in question basically has their bank account frozen, as they cannot access their funds or transfer funds. After 21 days, the bank will remove funds from the taxpayer’s bank account, and send them to pay the IRS the back taxes that they believe they are owed.

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But what can you do if the IRS threaten you with a bank account levy? Well, let’s take a look, shall we?

Hire professional tax representation firm – One of the first things you should do when the IRS or the state threatens to levy your account, is to contact our professional tax representation firm. We have years upon years of experience in this field, and we can deal with all of your tax-related worries, unpaid taxes, unfiled returns, other enquires effectively and efficiently. Contacting our tax relief experts will also provide you with peace of mind, which will help set your mind at ease, which is a huge bonus in itself.

Set up a payment agreement – Now, assuming that the IRS or the state tax agency haven’t made a mistake, and, for whatever reason, you haven’t paid your tax bill, the last thing you want is for a levy to be placed on your bank account. What can you do? Well, you can contact our firm to set up some sort of payment agreement with the IRS or the state tax agency. This could be beneficial for both parties, as we are likely to negotiate for you so that we can set up a small payment plan that is affordable for you, and convenient. This is also much better than paying off one huge lump sum in one go. We negotiate the lowest settlements based on your financial situation, and not based on IRS’ demands.

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Can’t pay at all – If times are hard, believe it or not, but the IRS are not monsters and they are willing to reach a compromise. Say for example, you don’t currently have an income, or your living expenses exceeds your limited income, we negotiate a CNC hardship for you, so the IRS will place you in CNC ‘currently uncollectable’ status, which is exactly as it sounds. It means that they will leave you alone and leave you to get your finances in order.

Appeal the decision – If you do feel that the IRS or the state tax agency have made a mistake, or causing hardship, you will have 21 days to file an appeal and let them know that you are seeking help and appealing their levy decision. Again, this is where our tax relief experts prove so useful in resolving your back taxes or unfiled returns.

Get a Free Case Evaluation Today at 877-788-2937

Mike Habib is an IRS licensed Enrolled Agent who owns and operates a specialized tax representation firm serving individual and business taxpayers seeking bank levy release in various metro areas such as Los Angeles, Whittier, Pasadena, Glendale, Burbank, Orange County, Riverside, Palm Springs, San Bernardino, Palmdale, Bakersfield, New York, New Jersey, Chicago, Houston, Phoenix, Philadelphia, San Antonio, San Diego, Dallas, San Jose, Detroit, Jacksonville, Indianapolis, San Francisco, Columbus, Austin, Memphis, Fort Worth, Baltimore, Charlotte, El Paso, Boston, Seattle, Washington DC, Milwaukee, Denver, Louisville, Jefferson, Las Vegas, Reno, Hempstead, Tucson, Nashville, Davidson, Portland, Tucson, Albuquerque, Santa Fe, Anchorage, Atlanta, Long Beach, Fresno, Sacramento, Mesa, Kansas City, Cleveland, Virginia Beach, Omaha, Miami, Oakland, Tulsa, Honolulu, Minneapolis, Pittsburgh, Colorado Springs, Arlington, Wichita, Birmingham, Montgomery, Tampa, Orlando.

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Bank levy release, IRS and state representation help for clients throughout Southern California including Norwalk, Santa Fe Springs, Downey, Pico Rivera, Montebello, Hacienda Heights, La Habra Heights, West Covina, La Habra, Brea, Fullerton, Yorba Linda, Cerritos, La Mirada, Lakewood, Anaheim, Santa Ana, Long Beach, Compton, Torrance, Los Angeles, Pasadena, Beverly Hills, Santa Monica and throughout Los Angeles County, Newport Beach, Irvine, Orange County, Corona, San Bernardino County, Riverside County, the Inland Empire, the San Fernando Valley, Ventura county, and the San Gabriel Valley.