IRS Levy

The IRS levy can take a few different forms. It is defined as the actual action taken by the IRS to collect taxes. Few other organizations have this power, and once a levy has been enacted, it is almost a sure thing that your money will be seized. One example might be what is called a bank levy. A bank levy is typically issued in order to freeze cash in savings and checking accounts. With a bank levy, your bank is required to remove whatever amount is available in your account that day (to a maximum of the amount the IRS is levying for), and send it to the IRS within 21 days.

In other cases, the IRS may levy your wages or accounts receivables, if the levy is issued on a business. This can greatly affect your relationship with your employer or business customers, as they must comply with the order and provide additional paperwork. Avoiding a levy is your best choice, and usually are only issued if there is little or no communication with the IRS as well. It is really a default action that the IRS only applies when they can find no other way. This levy type does not affect other deposits made into your account unless the IRS issues another bank account levy.

IRS Wage Levies

IRS wage levies can be very harsh. This form of levy is filed with your employer, and remains in effect until the IRS releases it. The real problem with these types of levies is that they often take so much money from your wages that you have difficulty living. The result can be credit problems and real financial difficulties. We have helped many of our clients with IRS levies and wage garnishment. We can help you too.

Let us help you today. Contact us here for a free consultation.

Free Tax Consultation
If you're finding yourself drowning in tax debt, we may be able to help. Get your life back on track with one free 10 minute consultation.

Testimonials
Read what just a few of our clients have to say about our tax relief services.