If you have received a “Notice of Intent to Levy,” or your bank has been levied, help is one phone call away. Our team of licensed Enrolled Agents, CPAs, and Tax Attorneys here at Tax Network USA have multiple effective strategies to prevent, remove, and even release all types of bank levies from IRS and State Taxing Authorities.
Typically, the IRS will only give taxpayers 21 days to resolve the bank levy. Due to the severity of this matter, it’s always best to have a tax professional representing on all bank levy disputes.
In one phone call, you can get all your bank levy questions answered by a licensed tax professional:
Don’t make any major decisions until you get every bank levy question answered during your Free No Obligation Consultation.
An IRS bank account levy is when the IRS seizures funds directly from your bank account to cover unpaid taxes that you owe. If the IRS contacts your bank, they must freeze your banking assets for 21 days from the day they receive the notice.
The IRS normally sends you five letters (five for individuals and four for businesses) before actually seizing the balance in your bank account. It is recommended to consult with a licensed tax professional when you receive your first Letter of Intent To Levy.
Yes. You have the legal right to appeal a tax levy, but you must act quickly as the IRS can start seizing your assets within 30 days of sending the notice. In most cases, it is recommended to have a licensed tax professional on your side when presenting and filing appeals.
The IRS can levy a bank account more than once. When the IRS levy’s you, it is not a standing levy, which means you can deposit money the next day. An IRS bank levy attaches to funds once the bank processes the tax levy.
If you make a deposit a few days later, the bank should not freeze it. The IRS would have to send another levy to the bank.
Levies are not able to occur after the IRS’s 10-year statute of limitations for collecting debts is up. Unfortunately, while in that 10 year period, there is no limit to the amount of times they are able to levy your account.
