The IRS has several extreme methods for collecting money owed to them. More than $80 million dollars in tax debt is outstanding in America, they are constantly seeking it out in whatever way the law allows. Bank account levies are one such way.
A levy is a direct order to seize your money to pay off back tax liability. When a bank receives a notice of Intent to Levy, they have to immediately freeze your assets. This means you won't be able to take out money, use your debit card, or access anything else linked to your bank account. From this point, the bank will wait 21 days before releasing your funds to the IRS for federal tax debt abatement.
How to Resolve a Notice Of Intent to Levy An Intent to Levy means you can lose everything you have in your bank account. If you do not have enough to cover what you owe, then the IRS may seek further courses of action including property liens, wage garnishment, and more. Once your bank notifies you that they have received a notice of Intent to Levy, we urge you contact us at Premier Tax Resolutions in order to get the situation under control.
Once we evaluate your case and decide to take it on, we will file for a suspension of the notice of Intent to Levy, as well as seek a settlement for your tax debt. This will not only allow you access to your account, but it will also stave off further action and penalties by the IRS. Call our office for a free consultation with no obligation. We can be reached at 1-800-554-0146 or by email at info@premiertaxresolutions.com--or simply click here to access our online contact form.
