IRS​ ​Bank​ ​Levy

IRS Bank Levy / Bank Garnishment

 

When​ ​the​ ​IRS​ ​issues​ ​a​ ​notice​ ​that​ ​it​ ​intends​ ​to​ ​levy​ ​or ​seize​ ​the money in your bank accounts, or any of you other financial assets,​ ​you​ ​have​ only ​30​ ​days​ ​to respond and three basic options:

  • Pay the amount due in full
  • Resolve the tax debt by entering into an installment agreement or making other arrangements
  • Challenge the bank levy ​

If​ ​you​ ​cannot​ ​pay​ ​your ​tax​ ​debt​ ​in​ ​full​ ​before​ ​the​ ​IRS​ ​is​ ​scheduled​ ​to​ ​seize​ ​your​ ​accounts or assets,​ ​an installment agreement ​may be​ ​your best option. Making monthly payments on your tax debt is easier than paying it all at once, but that may also lead to you paying more in total depending on the amount you owe and the number of years it will take to resolve the debt.

Other types of tax resolution arrangements may also be available to you, depending on your situation. The main thing to remember is that working with the IRS is usually to your advantage, and it will help you avoid the negative and lasting consequences a bank levy can bring.

Frequently Asked Tax Resolution Questions (FAQ’s)

Do you offer a free consultation?

Yes, we offer a free consultation. Keep in mind a consultation is the assess your current situation and agree upon a fee arrangement. We may not be able to give you a legal opinion until more research is done given your situation. Sometimes it may be necessary to charge a research fee or analysis fee to give you a complete plan of action and legal opinion. We strive to keep this fee as reasonable as possible.

How much do your tax resolution cost?
We provide the initial consultation free of charge, so we can learn about any tax issues you may have and design a tax resolution plan to meet your needs. We offer many services for a flat fee, and also give you the option of paying over time. We’ll do our best to work with you regardless of your financial situation.