No action is more panic-inducing than an IRS bank levy on your checking or savings account! With one notice, the IRS can seize every penny in your account and apply it to your tax bill.
When the IRS levy is on a bank account, the bank will hold whatever money was seized from your bank account for 21-days from the date that the bank receives the levy notice, before actually sending the seized monies to the IRS, to provide you time to contact the IRS and arrange to pay the tax or notify the IRS of errors in the levy.
The funds in the account are frozen as of the date and time the levy notice is received by the bank.
Coast One Tax Group may be able to successfully release the bank levy in full or to obtain a partial bank levy release. We can help you mitigate the damages arising from back tax debt and have provided significant tax relief to thousands of clients across the country. Don’t wait, call us today for a free consultation to see how we can help you resolve and possibly reduce your tax liability.
If you owe $10,000 or more in back taxes to the State or IRS, the team of tax experts at Coast One Tax Group is here to help.