Tax Bank Levy
The Internal Revenue Service (IRS) has special rules and requirements for tax levy releases. Not only do they follow the general regulations and policies for their wage levies, but they have extra and very specific requirements that must be complied with prior to the release of a tax bank levy. It should be known that while the IRS is naturally the ones that use this method the most, other creditors have also used this method to be given repayment for their debts. For example, if you have a judgment against you for a credit card debt, the creditor can file for a bank levy to be placed on your account.
While state laws differ, in most cases, certain money in your bank account are exempted including social security payments, welfare payments, child support, VA benefits, etc. If a tax bank levy has been placed on your account by a creditor, you usually have 30 days to challenge the levy. If a bank levy happens, the best thing to do is to find a way to learn how to file for an exemption immediately. It should be noted that a bank tax levy can occur regularly and is, therefore, not a one-time event. A creditor can request for a bank levy as many times as he or she would like to, until the debt is compensated. Many banks charge their customers a penalty if their bank account receives a levy. So if you have received a tax levy and have your employer deposit money into your account, this money will be seized as well.
At Premier Tax Resolutions, we are familiar with all the particulars of local tax law in California, as well as for the rest of the United States. We have over 30 years of combined practice in the area of bank levies and can typically lift a bank levy in two to 10 days. All you have to do is contact us as soon as possible, especially if your account is already in the list of those who are to receive as official Notice of Intent to Levy. If you are already having problems with your current bank levy, we will show you viable ways of how to get rid of a bank tax levy. Call us at this number now for a FREE consultation: 1-800-554-0146.
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