IRS Bank Levy
Ignoring your taxes, or failing to pay taxes can result in IRS collections simply taking your money by way of a bank levy.
This is a legal order sent to your bank telling them to freeze the money in your accounts. Once the bank receives this levy notice, it is required to freeze all funds in your accounts, up to the amount you owe the IRS. You will not be able to get to this money at all! The freeze will last for 21 days, and after the 21 days have passed, the bank must send the IRS the money. This is true even if they must send all of your money.
Because this form of IRS collection is so severe, it is vital that you get help as soon as you receive a “notice of intent to levy”. Bank levies are serious, so it is imperative that you seek experienced IRS tax help. You only have 21 days to stop the IRS from taking your money.
At Sentinel, our team of professionals have a vast amount of experience in resolving tax issues with IRS collections. The only way to stop a bank levy is to prove extreme economic hardship, or convince the IRS to accept some form of tax resolution instead. Your best hope of convincing the IRS to remove the levy is to let professionals tackle it for you. Sentinel has helped thousands of people solve their tax issues. While bank levies are usually the result of ignoring the IRS for too long, it’s never too late. Don’t wait another day, contact the tax professionals at Sentinel for a FREE confidential consultation about your levy today.