An IRS bank account levy is the seizure of funds from your bank account to satisfy unpaid tax debt. The bank will freeze your account so you cannot do anything with your account for 21 days and then the bank sends the funds over to the IRS. Once those funds are seized it is highly unlikely that you will ever see them again. One important thing to realize is that the IRS does not want to levy your bank account and they would much rather settle your taxes in some other manner. It is likely that the IRS has tried repeatedly to make you pay and they have gotten no where so they use a levy as their last line of defense. It is important to understand how IRS bank levies work to ensure you take the appropriate actions to stop the levy while ensuring your future financial well being.

What is an IRS bank levy?  An IRS bank account levy is one of the harshest collection mechanisms used by the IRS. This method of collection is used to forcefully take from a taxpayers bank account in order to satisfy outstanding IRS tax debt. Understand exactly how this levy works and what you can expect if you receive one.

An IRS bank levy can be stopped but it is important to act quickly to resolve this before it is too late and bank account funds have been seized. There are more than one ways to stop an IRS bank levy. After a full understanding of your circumstance, your dedicated tax professional should be able to determine the best method to stop you IRS bank levy.

Need help with an IRS bank levy? We can help. Patriot Tax Professionals can stop the levy before the IRS seizes your money and resolve your tax problems while keeping in mind your financial well being. Understand what the benefits of using a tax professional are. Request a free consultation to talk with one of our tax resolution specialists about stopping your bank levy and settling your tax debt.  For more information call Patriot Tax Professionals at 877-782-9383 or visit the IRS.gov website directly.