Bank Levy/IRS Levy/Tax Levy

An IRS bank levy on your bank account will really hurt! This is where the IRS actually asserts their ownership of your bank account. You can call it by any of three names: Bank levy, IRS levy, or tax levy. The bank will give you 21 days to convince the IRS that it should release the money back to you. The IRS now has its hands on your cash. Why should they give it back? (Other taxing agencies may give you as little as ten days to respond to a tax levy. You must act fast!)

Meanwhile, the bills you paid by check day before yesterday won't clear the bank, because the bank tells you an IRS levy has emptied your account. You find out about the IRS levy AFTER it happens. All those checks are going to bounce! The bank is going to charge you all those NSF (insufficient funds) and overdrawn account fees. Your creditors are going to flip! And you are in trouble!

Now what? That's right. Contact me. Go to the Contact Me page, and fill out the Contact Me information. Right now, as soon as you get the notice. I can help...but only if you act timely.

(If you have a bank levy or tax levy from other than the IRS or a state tax agency, I cannot help you. As a CPA, I can help with tax matters, but not civil matters. For that, you must see an attorney.)