Bank Levy

In the event that you fail to pay your taxes or go into debt with the IRS, they can seize your finances and assets.

One of the most common ways the IRS does this is with a bank levy. A bank levy is the process by which the IRS freezes your bank account and eventually takes funds to cover the money you owe. This can be a terrifying and stressful experience, but with help from professionals, you can get a bank levy release quickly and efficiently.

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If the IRS has sent you a Final Notice of Intent to Levy, you have 30 days to request an appeal or CPD hearing.

Taking one of these two actions will buy you some time to find a resolution with the IRS. If you don’t act quickly, the IRS can come after your account funds and property. Typically the first thing the IRS will do is freeze your bank account and take the funds after a short period. If you don’t have enough funds in your account to cover your debt, the IRS may come after your wages and property as well.

At Wasvary Tax Services we have multiple years of experience with helping our clients with bank levy situations. Our expertise can help guide you in what can often seem like a totally overwhelming, perhaps even impossible, process.

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