Bank Levy

How is this for a nightmare?

Imagine finding out all your bank accounts have been cleaned out. The IRS will take every last penny! If the amount they took did not cover what is owed, the IRS will keep emptying your bank accounts until the entire liability has been paid off. The IRS is fully aware that levying your bank accounts will cause checks to bounce and let many people know that you have tax problems. But the IRS does not mind! Their only goal is to collect the back taxes owed.

Bank Levy Release Conditions

To convince the IRS to release a bank levy is not an easy task and requires proof of financial hardship from the taxpayer such as an eviction notice or utility shut-off notice. Many other documents will need to be presented along with a request for bank levy releases. If a case for hardship cannot be made the IRS will simply tell you: “We are sorry but our policy is not to release bank levies under any circumstances.” They are quite serious about this!

Bank Levy Solutions: Act Fast!

The IRS orders your bank to freeze all the money in your account(s) up to the amount of the levy (the total the IRS claims you owe) for 21 days. If the IRS has not provided a “Bank Levy Release” notice your bank must then send the money to the IRS. Time is rapidly running out and the IRS has already told you “No” when you pleaded and begged them to let you pay for living expenses. You will have much better odds in your favor by letting one of our certified tax relief professionals handle this for you.