Release of IRS Bank Levy in Tustin

What is a Release of IRS Bank Levy?

IRS Bank Levies are normally released when you pay off your tax debt. Depending on the situation, we can appeal and have the IRS release a levy. If the levy would lead to a severe economic hardship for you, the IRS might hold off on collecting, but the debt will still exist.

Another common method occurs when the IRS contacts your bank and asks them to freeze the available funds in your account for a duration of 30 days. We can help you but you must call now! The longer you wait, the less likely it is to get a bank levy released.

An IRS bank account levy is when the IRS seized funds directly from your bank account to cover the back tax obligations you owe. Typically, the IRS calls your bank regarding your taxes owed. Next, your bank must freeze your assets for 21 days from the date it receives the IRS notice. As a result, if you don't respond during that time, the bank sends all the funds to the IRS.

An IRS bank levy will just affect the current funds in the account. When your bank activates the bank levy, it will not impact any future deposits. The IRS can release an additional bank levy in the future. However, this rarely happens.

The bank puts a hold or "freeze on the account" on the funds in the account. This holds true even if it produces checks to be returned as well as overdraft account fees. The bank has to wait 21 days before sending the funds to the IRS. If the levy is not released during this time, then the following day the funds will be sent to the IRS.

Normally, this is the last line of defense for the IRS. The IRS only uses this enforcement collection method after trying to get in touch with you several times without getting a response.

Three Requirements need to usually be met before the IRS will levy:

  • The IRS analyzed the tax and sent you a Notice and Requirement for Repayment
  • You failed or declined to pay the tax
  • You were sent a Final Notice of Intent to Levy and Notice of Your Right to A Hearing a minimum of one month prior to the levy.

They may give you this notification in person, leave it at your residence or usual workplace or send it to the last known address they have on file, for you by certified mail, return invoice requested.

For more information about Release of IRS Bank Levy in Tustin, California, contact Tax Alliance at 800.987.3051 or visit our website: TaxAlliance.com to learn more. Let's Resolve Your Tax Debt Today!

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Efficiency through Automation!

Because of advancements in our technology, we are able to communicate with the IRS electronically, its as if we are in the same office! Faster service and more cost effective!

Our Money Back Guarantee!

If you are not happy with our tax services within the initial 21 days, we will give you a 100% refund of services rendered, no questions asked!

Price Match Guarantee

You find it, we will match it! Tax Alliance will match and beat (by 10%) any competitive offer. Contact our office today and receive a free no obligation tax consultation.

Call Us