How To Stop Bank Levy
Releasing and removing IRS Bank Levy
The IRS can place a levy on your bank accounts. When this occurs, it is imperative to act quickly because you only have 21 days to have the levy released before the bank is required to send the money in the account to the IRS.
Stop Bank Levy
In most cases, we at J. David Tax Relief can remove a bank levy almost immediately. Sometimes, you are required to be in compliance and file any unfiled tax returns before we can negotiate a resolution for you and release a bank levy. Other times, we can show that the levy is putting you in a financial hardship and we can have the IRS release it immediately, even without filing past due tax returns.
How To Stop a Bank Levy On Your Account
Our Process in Releasing an IRS Bank Levy
We go through a financial analysis with you to analyze your monthly income and expenses. In doing so, we determine if you are already in a financial hardship or if having the bank levy is putting you into a financial hardship. We will gather any necessary documentation from you to prove your income and expenses to the IRS and we can have the levy released immediately even before filing past due tax returns. If the levy does not put you in a financial hardship then we go to the next step.
Getting Into Compliance First
We prepare and file your past due tax returns to bring you into compliance. Once you are compliant we can then enter you into a formal resolution such as an installment agreement or an offer in compromise. Once we have you in a formal agreement with the IRS we can have your bank levy released. It is important to contact a tax attorney quickly because of the 21 day deadline.
Not all Tax Firms will Release a Bank Levy Quickly
Many tax firms will not even work on your case until you have 50%-80% paid their fee. This leaves you subject to wage garnishments and bank levies even after they have filed a power of attorney for you with the IRS! At J. David Tax Relief we begin working on your case immediately even if you have not yet paid 20% of our fee. We believe this is the reason you hired us and we won’t compromise our quality of work. Our tax attorneys begin working right away and will have your bank levy released as soon as possible.