Owing back taxes can cause a lot of undue financial hardship for you and your family. The IRS will only send you five notices about your taxes due before taking action against you with a levy to recover money you owe. Issuing a tax levy is one way among many that the IRS will use to pressure you into paying your back taxes.
Click Here For Tax Levy!
A bank account levy is a direct order from the IRS to your bank to seize your money in order to settle your tax liability in full (or partially). After a Notice of Levy has been ordered, you only have 21 days to reverse the directive, otherwise your money is gone for good. This is a critical time in which proper legal representation is extremely vital. At Tax Tiger, we will move quickly to stop an IRS tax levy on your bank account or wages to preserve your assets.
How to Resolve a Tax Levy
We begin resolving your situation by first contacting the IRS to unfreeze your accounts, explaining that you have retained representation in order to rectify the situation. Even though the bank can't release the money for 21 days, the IRS will freeze your funds immediately upon sending a Notice of Levy. All accounts linked to your social security number are frozen, including stocks, bonds, checking accounts, credit cards, loans, etc.
We will work fast to release your money and then negotiate with the IRS to find a mutually beneficial settlement of your tax liability, but you have to take immediate action. After the 21-day period, there is nothing we can do to save the funds that the bank is holding--they will be sent to the IRS. Even if this is the case, you should still contact us, as the IRS is known to issue multiple bank levies, one right after the other, until the debt is satisfied. Contact our office and find out why so many people are extremely satisfied with the tax services we provide.
